Bank of Montreal Can Decreases Stock Position in Burford Capital Limited (NYSE:BUR)

Bank of Montreal Can cut its stake in Burford Capital Limited (NYSE:BUR) by 48.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,989,449 shares of the company’s stock after selling 2,763,582 shares during the period. Bank of Montreal Can’s holdings in Burford Capital were worth $39,640,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its holdings in Burford Capital by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,315 shares of the company’s stock worth $6,369,000 after buying an additional 2,277 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Burford Capital during the 3rd quarter worth about $265,000. Evergreen Wealth Management LLC purchased a new stake in Burford Capital during the 3rd quarter worth about $1,434,000. Covestor Ltd lifted its holdings in Burford Capital by 27.6% during the 3rd quarter. Covestor Ltd now owns 8,527 shares of the company’s stock worth $113,000 after buying an additional 1,842 shares during the last quarter. Finally, Clear Harbor Asset Management LLC lifted its holdings in Burford Capital by 9.6% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 81,754 shares of the company’s stock worth $1,084,000 after buying an additional 7,175 shares during the last quarter.

Burford Capital Stock Up 0.7 %

BUR opened at $13.54 on Friday. The business’s 50-day simple moving average is $13.51 and its 200-day simple moving average is $13.49. The company has a debt-to-equity ratio of 0.54, a quick ratio of 15.75 and a current ratio of 15.75. Burford Capital Limited has a one year low of $12.07 and a one year high of $16.77. The stock has a market capitalization of $2.97 billion, a P/E ratio of 11.67 and a beta of 0.49.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $18.00 price target on shares of Burford Capital in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft assumed coverage on Burford Capital in a report on Friday, September 6th. They set a “buy” rating and a $18.00 price target for the company.

About Burford Capital

Burford Capital Limited provides legal finance products and services worldwide. The company operates through two segments, Capital Provision, and Asset Management and Other Provision. The Capital Provision segment provides capital to the legal industry or in connection with legal matters directly and through investment in private funds; legal risk management services; lower risk legal finance business focusing on pre-settlement litigation matters with lower risk and lower expected returns; post-settlement finance; and complex strategies in which it acts as a principal and acquires assets that are mispriced.