Short Interest in Burford Capital Limited (NYSE:BUR) Rises By 16.4%

Burford Capital Limited (NYSE:BUR) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 2,490,000 shares, a growth of 16.4% from the May 31st total of 2,140,000 shares. Based on an average daily volume of 1,090,000 shares, the short-interest ratio is currently 2.3 days. Currently, 1.3% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reiterated a “buy” rating and issued a $22.50 price target on shares of Burford Capital in a report on Tuesday.

Burford Capital Price Performance

NYSE:BUR opened at $13.01 on Wednesday. The company has a current ratio of 14.17, a quick ratio of 14.17 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $14.28 and a 200 day simple moving average of $14.69. The stock has a market capitalization of $2.85 billion, a PE ratio of 9.10 and a beta of 0.58. Burford Capital has a 1-year low of $11.83 and a 1-year high of $17.70.

Burford Capital (NYSE:BUR) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.59). The company had revenue of $44.30 million during the quarter, compared to analyst estimates of $206.00 million. Burford Capital had a net margin of 42.81% and a return on equity of 10.61%. On average, research analysts expect that Burford Capital will post 1.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio lifted its holdings in shares of Burford Capital by 75.8% in the third quarter. Public Employees Retirement System of Ohio now owns 105,950 shares of the company’s stock worth $1,485,000 after acquiring an additional 45,693 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Burford Capital in the fourth quarter worth $2,419,000. Aigen Investment Management LP acquired a new stake in shares of Burford Capital in the fourth quarter valued at about $384,000. SG Americas Securities LLC acquired a new stake in Burford Capital during the 4th quarter valued at approximately $180,000. Finally, Aristides Capital LLC bought a new position in Burford Capital during the fourth quarter worth $780,000.

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.