Teacher Retirement System of Texas lowered its stake in Burford Capital Limited (NYSE:BUR - Free Report) by 18.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,370,000 shares of the company's stock after selling 1,450,000 shares during the quarter. Teacher Retirement System of Texas owned about 2.91% of Burford Capital worth $81,218,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in BUR. Sunbelt Securities Inc. purchased a new stake in shares of Burford Capital in the third quarter worth about $57,000. HM Payson & Co. bought a new stake in Burford Capital in the 4th quarter worth approximately $119,000. BBR Partners LLC purchased a new stake in shares of Burford Capital during the 3rd quarter worth approximately $133,000. Steward Partners Investment Advisory LLC boosted its position in shares of Burford Capital by 54.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,242 shares of the company's stock valued at $169,000 after acquiring an additional 4,670 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new position in shares of Burford Capital in the fourth quarter valued at $171,000.
Insider Buying and Selling
In other news, President Aviva O. Will sold 7,500 shares of the firm's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $14.61, for a total value of $109,575.00. Following the completion of the sale, the president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Perla sold 3,000 shares of the company's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $14.61, for a total transaction of $43,830.00. Following the transaction, the insider now owns 82,489 shares in the company, valued at $1,205,164.29. The trade was a 3.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,500 shares of company stock worth $1,468,305 over the last three months. 0.19% of the stock is owned by insiders.
Burford Capital Price Performance
Burford Capital stock traded down $0.31 during mid-day trading on Friday, reaching $13.80. 1,323,864 shares of the company's stock traded hands, compared to its average volume of 965,759. Burford Capital Limited has a 12-month low of $12.07 and a 12-month high of $16.77. The company has a market cap of $3.03 billion, a price-to-earnings ratio of 11.90 and a beta of 0.44. The stock has a 50 day moving average of $14.22 and a two-hundred day moving average of $13.64. The company has a quick ratio of 15.75, a current ratio of 15.75 and a debt-to-equity ratio of 0.54.
Burford Capital (NYSE:BUR - Get Free Report) last announced its earnings results on Monday, March 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.62). Burford Capital had a net margin of 34.81% and a return on equity of 8.07%. The business had revenue of $65.69 million for the quarter, compared to analysts' expectations of $219.38 million. Equities analysts forecast that Burford Capital Limited will post 1.28 earnings per share for the current year.
Burford Capital Cuts Dividend
The business also recently declared a semi-annual dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a yield of 1.8%. Burford Capital's payout ratio is presently 18.46%.
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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