Short Interest in Burford Capital Limited (NYSE:BUR) Grows By 26.8%

Burford Capital Limited (NYSE:BUR) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 7,670,000 shares, a growth of 26.8% from the October 15th total of 6,050,000 shares. Based on an average daily volume of 553,100 shares, the days-to-cover ratio is currently 13.9 days. Currently, 4.1% of the company’s stock are short sold.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd bought a new position in Burford Capital in the third quarter valued at about $595,000. State Street Corp increased its position 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 purchasing an additional 582,514 shares in the last quarter. Michelson Medical Research Foundation Inc. lifted its stake in Burford Capital by 50.0% in the 3rd quarter. Michelson Medical Research Foundation Inc. now owns 180,000 shares of the company’s stock valued at $2,387,000 after purchasing an additional 60,000 shares during the last quarter. HighTower Advisors LLC boosted its position in Burford Capital by 15.7% in the third quarter. HighTower Advisors LLC now owns 314,037 shares of the company’s stock valued at $4,154,000 after buying an additional 42,699 shares in the last quarter. Finally, Claar Advisors LLC boosted its holdings in shares of Burford Capital by 22.7% during the 3rd quarter. Claar Advisors LLC now owns 595,446 shares of the company’s stock valued at $7,896,000 after acquiring an additional 110,000 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wedbush reissued an “outperform” rating and issued a $18.00 price objective on shares of Burford Capital in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft started coverage on shares of Burford Capital in a research note on Friday, September 6th. They issued a “buy” rating and a $18.00 price target for the company.

Burford Capital Stock Down 1.2 %

Shares of NYSE:BUR opened at $13.19 on Friday. The firm has a 50 day moving average of $13.43 and a 200-day moving average of $13.62. Burford Capital has a 12 month low of $12.07 and a 12 month high of $16.77. 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 Company Profile

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.