Burford Capital Limited (NYSE:BUR) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its stake in Burford Capital Limited (NYSE:BUR) by 18.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,370,000 shares of the company’s stock after selling 1,450,000 shares during the quarter. Teacher Retirement System of Texas’ holdings in Burford Capital were worth $81,218,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BUR. Xponance Inc. raised its position in Burford Capital by 9.7% in the fourth quarter. Xponance Inc. now owns 14,381 shares of the company’s stock valued at $183,000 after purchasing an additional 1,272 shares during the period. Intech Investment Management LLC grew its stake in shares of Burford Capital by 265.4% in the fourth quarter. Intech Investment Management LLC now owns 72,935 shares of the company’s stock valued at $930,000 after buying an additional 52,974 shares in the last quarter. Cibc World Markets Corp acquired a new stake in shares of Burford Capital in the fourth quarter valued at $239,000. Swiss National Bank increased its stake in Burford Capital by 0.5% during the fourth quarter. Swiss National Bank now owns 387,690 shares of the company’s stock worth $5,028,000 after purchasing an additional 2,093 shares during the period. Finally, HighTower Advisors LLC grew its holdings in shares of Burford Capital by 2.8% in the fourth quarter. HighTower Advisors LLC now owns 322,845 shares of the company’s stock valued at $4,116,000 after purchasing an additional 8,808 shares in the last quarter.

Burford Capital Price Performance

Shares of BUR opened at $14.02 on Thursday. 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 Limited has a fifty-two week low of $12.07 and a fifty-two week high of $16.77. The company has a market cap of $3.08 billion, a P/E ratio of 12.08 and a beta of 0.44. The firm’s 50 day moving average price is $14.17 and its 200 day moving average price is $13.63.

Burford Capital (NYSE:BUR) last released its earnings results on Monday, March 3rd. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.56 by ($0.62). The company had revenue of $65.69 million for the quarter, compared to analyst estimates of $219.38 million. Burford Capital had a return on equity of 8.07% and a net margin of 34.81%. On average, research analysts forecast that Burford Capital Limited will post 1.28 earnings per share for the current fiscal year.

Burford Capital Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 23rd will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a yield of 1.8%. Burford Capital’s dividend payout ratio (DPR) is 18.46%.

Insider Activity at Burford Capital

In other Burford Capital news, CEO Christopher P. Bogart sold 90,000 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $14.61, for a total value of $1,314,900.00. Following the sale, the chief executive officer now directly owns 452,185 shares in the company, valued at $6,606,422.85. This trade represents a 16.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David Perla sold 3,000 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $14.61, for a total value of $43,830.00. Following the transaction, the insider now directly owns 82,489 shares of the company’s stock, valued at approximately $1,205,164.29. This represents a 3.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,500 shares of company stock valued at $1,468,305 over the last 90 days. 0.19% of the stock is owned by corporate insiders.

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.