Burford Capital Limited (NYSE:BUR) Short Interest Up 26.8% in October

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

Analyst Ratings Changes

BUR has been the subject of several recent research reports. Wedbush restated an “outperform” rating and issued a $18.00 price target on shares of Burford Capital in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft assumed coverage on Burford Capital in a report on Friday, September 6th. They issued a “buy” rating and a $18.00 price objective for the company.

Institutional Investors Weigh In On Burford Capital

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in Burford Capital in the second quarter valued at $438,000. M&G Plc bought a new position in shares of Burford Capital in the 1st quarter worth about $18,108,000. Bank of Montreal Can raised its position in shares of Burford Capital by 367.7% in the 2nd quarter. Bank of Montreal Can now owns 5,753,031 shares of the company’s stock worth $75,077,000 after acquiring an additional 4,523,087 shares in the last quarter. Baillie Gifford & Co. lifted its stake in shares of Burford Capital by 15.6% in the 2nd quarter. Baillie Gifford & Co. now owns 1,534,668 shares of the company’s stock valued at $19,788,000 after purchasing an additional 207,157 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Burford Capital by 456.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 91,905 shares of the company’s stock valued at $1,196,000 after purchasing an additional 75,402 shares in the last quarter.

Burford Capital Stock Performance

NYSE:BUR opened at $13.19 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 15.75 and a quick ratio of 15.75. Burford Capital has a fifty-two week low of $12.07 and a fifty-two week high of $16.77. The company has a 50 day simple moving average of $13.43 and a two-hundred day simple moving average of $13.62.

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.