Rangeley Capital LLC Acquires New Holdings in Burford Capital Limited (NYSE:BUR)

Rangeley Capital LLC bought a new stake in Burford Capital Limited (NYSE:BUR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 461,000 shares of the company’s stock, valued at approximately $5,878,000. Burford Capital comprises approximately 5.3% of Rangeley Capital LLC’s holdings, making the stock its 4th biggest holding. Rangeley Capital LLC owned about 0.21% of Burford Capital at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Emeth Value Capital LLC acquired a new stake in shares of Burford Capital in the fourth quarter valued at $17,980,000. Proficio Capital Partners LLC grew its holdings in shares of Burford Capital by 553.8% in the fourth quarter. Proficio Capital Partners LLC now owns 963,122 shares of the company’s stock valued at $12,280,000 after purchasing an additional 815,812 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Burford Capital by 22.8% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,727,735 shares of the company’s stock worth $47,529,000 after buying an additional 691,269 shares during the period. State Street Corp lifted its holdings in Burford Capital by 24.6% during the 3rd quarter. State Street Corp now owns 2,946,927 shares of the company’s stock worth $39,076,000 after buying an additional 582,514 shares in the last quarter. Finally, Rovida Investment Management Ltd purchased a new position in Burford Capital in the 4th quarter valued at approximately $7,449,000.

Burford Capital Stock Performance

Shares of BUR opened at $13.63 on Thursday. Burford Capital Limited has a 1 year low of $12.07 and a 1 year high of $16.77. The stock has a 50-day simple moving average of $14.31 and a 200-day simple moving average of $13.68. The stock has a market capitalization of $2.99 billion, a PE ratio of 11.75 and a beta of 0.44. 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 (NYSE:BUR) last announced its quarterly earnings results on Monday, March 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.62). Burford Capital had a return on equity of 8.07% and a net margin of 34.81%. The business had revenue of $65.69 million for the quarter, compared to analysts’ expectations of $219.38 million. On average, analysts predict that Burford Capital Limited will post 1.28 earnings per share for the current fiscal year.

Burford Capital Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 23rd will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a dividend yield of 1.8%. Burford Capital’s payout ratio is 18.46%.

Insider Buying and Selling

In other Burford Capital news, President Aviva O. Will sold 7,500 shares of Burford Capital stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $14.61, for a total value of $109,575.00. Following the transaction, the president now directly owns 310,979 shares in the company, valued at approximately $4,543,403.19. This trade represents a 2.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Perla sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $14.61, for a total value of $43,830.00. Following the sale, the insider now owns 82,489 shares of the company’s stock, valued at $1,205,164.29. This trade represents a 3.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,500 shares of company stock valued at $1,468,305 over the last quarter. 0.19% of the stock is currently owned by insiders.

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.