Bank of New York Mellon Corp decreased its position in Burford Capital Limited (NYSE:BUR - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 830,579 shares of the company's stock after selling 37,436 shares during the period. Bank of New York Mellon Corp owned about 0.38% of Burford Capital worth $10,590,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Evergreen Wealth Management LLC bought a new position in shares of Burford Capital in the third quarter worth $1,434,000. Intech Investment Management LLC purchased a new stake in Burford Capital during the third quarter valued at about $265,000. Charles Schwab Investment Management Inc. lifted its position in Burford Capital by 0.5% in 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. FMR LLC boosted its stake in shares of Burford Capital by 2,032.2% in the 3rd quarter. FMR LLC now owns 23,284 shares of the company's stock valued at $308,000 after purchasing an additional 22,192 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in Burford Capital by 129.1% during the third quarter. MetLife Investment Management LLC now owns 116,066 shares of the company's stock valued at $1,539,000 after buying an additional 65,398 shares during the period.
Burford Capital Trading Up 1.6 %
BUR stock traded up $0.22 during midday trading on Monday, hitting $13.80. The company had a trading volume of 684,189 shares, compared to its average volume of 966,628. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 11.89 and a beta of 0.44. Burford Capital Limited has a 52 week low of $12.07 and a 52 week high of $16.77. The company has a current ratio of 15.75, a quick ratio of 15.75 and a debt-to-equity ratio of 0.54. The stock's 50 day moving average price is $14.12 and its 200 day moving average price is $13.62.
Burford Capital (NYSE:BUR - Get Free Report) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.62). The firm had revenue of $65.69 million for the quarter, compared to the consensus estimate of $219.38 million. Burford Capital had a net margin of 34.81% and a return on equity of 8.07%. As a group, equities research analysts expect that Burford Capital Limited will post 1.28 earnings per share for the current fiscal year.
Burford Capital Cuts Dividend
The firm also recently declared a semi-annual dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.0625 per share. This represents a yield of 1.8%. The ex-dividend date is Friday, May 23rd. Burford Capital's payout ratio is 18.46%.
Insider Transactions at Burford Capital
In related news, insider David Perla sold 3,000 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $14.61, for a total value of $43,830.00. Following the completion of the transaction, the insider now directly owns 82,489 shares of the company's stock, valued at $1,205,164.29. This represents a 3.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher P. Bogart sold 90,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $14.61, for a total value of $1,314,900.00. Following the completion of the transaction, the chief executive officer now owns 452,185 shares of the company's stock, valued at approximately $6,606,422.85. The trade was a 16.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,500 shares of company stock worth $1,468,305. 0.19% of the stock is currently owned by insiders.
Burford Capital Profile
(
Free Report)
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.
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