Cannon Global Investment Management LLC Invests $629,000 in Burford Capital Limited (NYSE:BUR)

Cannon Global Investment Management LLC purchased a new position in shares of Burford Capital Limited (NYSE:BUR) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 39,400 shares of the company’s stock, valued at approximately $629,000. Burford Capital makes up about 1.7% of Cannon Global Investment Management LLC’s holdings, making the stock its 17th biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Anchor Investment Management LLC purchased a new stake in shares of Burford Capital during the fourth quarter worth about $31,000. ADAR1 Capital Management LLC purchased a new stake in Burford Capital in the fourth quarter valued at approximately $165,000. SG Americas Securities LLC purchased a new stake in Burford Capital in the fourth quarter valued at approximately $180,000. State of New Jersey Common Pension Fund D grew its holdings in Burford Capital by 24.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 22,426 shares of the company’s stock valued at $350,000 after purchasing an additional 4,415 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in Burford Capital in the fourth quarter valued at approximately $384,000.

Burford Capital Price Performance

Burford Capital stock traded up $0.18 during trading on Friday, reaching $13.05. The company had a trading volume of 29,729,377 shares, compared to its average volume of 1,118,173. Burford Capital Limited has a 12-month low of $11.78 and a 12-month high of $17.70. The stock’s 50 day moving average price is $14.37 and its two-hundred day moving average price is $14.69. The company has a debt-to-equity ratio of 0.58, a current ratio of 14.17 and a quick ratio of 14.17.

Burford Capital (NYSE:BUR) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.59). The business had revenue of $44.30 million for 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%. As a group, sell-side analysts forecast that Burford Capital Limited will post 1.47 earnings per share for the current year.

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.