Share Name Share Symbol Market Type Share ISIN Share Description
Burford Capital Limited LSE:BUR London Ordinary Share GG00B4L84979 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -4.00p -0.26% 1,560.00p 1,551.00p 1,556.00p 1,560.00p 1,559.00p 1,560.00p 608 08:01:32
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 314.6 239.3 82.9 18.3 -

Burford Capital Share Discussion Threads

Showing 6976 to 6998 of 7175 messages
Chat Pages: 287  286  285  284  283  282  281  280  279  278  277  276  Older
DateSubjectAuthorDiscuss
25/6/2019
13:54
Well - what they aren't is in control of when a case settles, or not. So surely, based on the facts, if they can find a willing third party who is able to buy a proportion of a claim off them based on the fact pattern and their due diligence - that's the best possible evidence as to value, right? So I'm really struggling to see a downside to what they're doing - unless they are selling out and crystallising losses?
kirkie001
25/6/2019
12:50
If it's a mechanism for writing up unrealised gains - then it's being done off the basis of an actual transaction which has taken place: therefore giving a market observable basis for the value (as opposed to a theorerical value based on an assessment of the likely value)? So - therefore - better evidence? Or am I missing something?
kirkie001
25/6/2019
12:23
Alphabet - do you think the sale was organised and executed yesterday - between the hearing and the release of the RNS? It could be prudent risk management - it could also be a mechanism for writing up unrealised gains.
trident5
25/6/2019
12:20
YPF showing absolutely no inclination to settle: Https://www.courtlistener.com/recap/gov.uscourts.nysd.440752/gov.uscourts.nysd.440752.87.0.pdf
bestace
25/6/2019
11:52
Trident - Burford can't control the hearing timetable. If they were doing this outside a notable event then there would be a case but each time they're selling it is because something has changed to up the value of their investment. If they didn't sell stakes then they would still be consequently upping the valuation on the case value anyway which would still feed into the accounts. Looks nothing more than prudent risk management.
alphabeta4
25/6/2019
11:38
What has Portia, not the heiress of Belmont, done now (as I must have missed it)? Anyway, the illogicality (is that a word?) of the share price reaction to more cash for compounding and a re-valuation of Petersen means that something is adrift and it presents me with an accumulation opportunity. (Reminder: 1630'ish gets it back on the 95% CAGR trend line going back to December 2016... 95% I repeat).
sogoesit
25/6/2019
11:37
No problem Martin. I only referred to the realised gain as a profit banked in response to the view of many that unrealised gains are effectively worthless. With the decision going in their favour, I can only see the notional value of the remaining 61.25% increasing as the pressure grows on Argentina to settle. Regardless, BUR continue to generate exceptional returns.
xajorkith
25/6/2019
10:36
Volumes today very low. Thank you Portia Patel for helping me top up at a big discount with your naive analysis.
brexitplus
25/6/2019
10:31
Trident - I'm not sure I understand you? They've sold this investment in June - after the year end (obviously!), after the accounts for the year end were signed off, and before the half year end....
kirkie001
25/6/2019
09:46
I'm just commenting on what has now become a clear pattern.
trident5
25/6/2019
09:41
Trident5 What would you do in their position? I look at it this way. 1 Burford recycles profits. There is a big demand for their service. The $100 million can be recycled to generate more profits. 2 Burford had no say in the date of the Court decision. It could have been after year end. Other investors have obviously been clamouring for part of the deal. Agreements with the ELEVEN investors (and remember it was oversubscribed) must have been made well in advance to have been announced at the same time as the decision.
brexitplus
25/6/2019
09:38
Burford have an extraordinary habit of selling part-interests in cases between year end and accounts sign off. Are they selling these interests for the right reasons or to trigger write-ups in their remaining interests to make the year end accounts look better?
trident5
25/6/2019
09:17
So Liberum target price 2x Cannacord Someone is wrong!!!
brexitplus
25/6/2019
09:09
Brexit plus,thanks,I haven't heard that quote before,stoxx67,I'm conservative ( with a small 'c',)I hasten to add!
djderry
25/6/2019
08:58
Liberum:Burford has announced good news in the Petersen case. The US Supreme Court has declined to hear Argentina's appeal that the case should not be seen in a US Federal Court. Secondly, Burford has sold a further 10% in the matter for $100m, implying an original valuation of $1bn, 25% up on the level at which the company sold a 4% interest in H2 2018. Burford's current 61.25% entitlement is therefore implied at $613m. Although we do not value individual investments for Burford we view this as a positive since it de-risks our forecasts for 2019. We leave our forecasts and £24.70 TP unchanged and re-iterate BUY.Burford Capital has announced that the US Supreme Court has declined to hear Argentina's and YPF's appeals in the Petersen case.This follows on from the announcement on 10 July 2018 that the US Second Circuit Court of Appeals had affirmed the trial court decision, finding the Petersen claims against Argentina and YPF will be justiciable in the United States Federal Courts. Argentina subsequently appealed this decision.Burford has also announced that it has sold a further 10% of its entitlement in the Petersen matter into the secondary market it has been developing, leaving Burford with 61.25% of its original entitlement. The sale price was $100 million, implying a value of $1 billion for 100% of Burford's original Petersen entitlement. Burford has now generated $236 million in proceeds from Petersen sales and has a residual equity value of $613m.We show below all historic secondary sales and the implied total valuation at those dates. The implied total valuation has increased at each secondary sale. Furthermore, the 10% sale was to 11 institutional investors and was significantly over-subscribed. Including prior purchasers, there are now approximately 40 institutional investors participating in the Petersen secondary market.Burford has been positioning itself as the leading legal services focussed investment bank and delivering this sale to so many institutions, so supporting a healthy secondary market for its investments, shows it is continuing to broaden its service offering and network.The sale of $100m of interest in the case will be directly recorded as revenue for 2019. Our current forecast for revenue in 2019 is $457m, so this constitutes 22% of our annual forecast. We have always stated that Burford is impossible to forecast since the company gives no guidance and is subject to the timetables of different courts and to individually unpredictable legal outcomes. Any particular reporting period could be strong or weak for reasons which no outside observer could predict.As such we do not change our forecasts but note risk to the upside if a number of other investments conclude during 2019.
lomax99
25/6/2019
08:55
It was on the 25th July last year.
lomax99
25/6/2019
08:49
i was hoping more around the £40's in a couple of Years DJD, as we know with companies like ASOS, stratospheric share price appreciation can happen, i had expected a little more from Burford, i was in around £9, but other market participants have stalled the rise , for now at least. last results did surprise a little, great results, little response in SP, i expected £23 back then, and still we languish at £16. we know this is a growth company and one of the best QUALITY growth companies around, being involved in a relatively new and massive growth sector. very lazy of me, but when do we get next trading update, end of July ?
stoxx67
25/6/2019
08:48
Djderry Completely agree. A full listing would be very helpful though. Buffett said “I could improve your ultimate financial welfare by giving you a ticket with only twenty slots in it so that you had twenty punches - representing all the investments that you got to make in a lifetime. And once you'd punched through the card, you couldn't make any more investments at all. Under those rules, you'd really think carefully about what you did, and you'd be forced to load up on what you'd really thought about. So you'd do so much better." Burford is one of those investments.
brexitplus
25/6/2019
08:40
The Petersen matter,as I mentioned last week,is just one,albeit high profile,case that Burford has backed.As the years go by,we will see many others.As an investor,I try not to focus on irrelevant metrics .The share price is one of those.It only becomes relevant if I am about to buy or sell.Then it becomes a big deal.Otherwise ,it makes absolutely no difference,becoming much less important than what I choose to have for breakfast.The key is to look past the noise.And a fund manager who rightly saw the value in Burford who now becomes a forced seller is more 'noise'.(Obviously,a very painful experience for him and his investors.)Of course,the old adage,'never a forced seller be' is the key takeaway.No,the investor carries on ,choosing breakfast wisely,knowing the right choice sets him or her up for the day,knowing he or she has absolutely no control over the squiggles on a graph,or the share price as it's better known.He or she factors the latest news in,in this case the 100 million contribution from a case which has yet to resolve.The cash will then be recycled into further cases,reducing the need to tap the markets until,I estimate,2021.As with the Petersen case,there will be many twists and turns,some good years and some less good ,or perhaps stellar years.Overall,it looks more and more like they can hit the Hardman estimate of $1.98 to $2.03 EPs for 2020 .If the company keeps doing what it's doing and keeps its strict due diligence in place,I'm confident the so will,in time,respond.Predictions are futile but,here goes,the so in March 2021;£31!
djderry
25/6/2019
08:39
I can’t help thinking that whenever Burford comes out with good news, poor old Portia Patel, living in her multimillion pound Islington townhouse, has had a blazing row with her husband/wife/whatever goes these days, and is in a bad mood. It can’t be anything to do with the Burford.
brexitplus
25/6/2019
08:06
Though remember the entire Petersen claim cost $18m. Jaw dropping profitability
mad foetus
25/6/2019
08:03
Hi Xajorkith My apologies, having re-read your post, I see you realise BUR still own 61.25%. My other thought was about you suggesting a realised gain of $100m; obviously that is the incoming cash, but I think the associated profit on this sale is $20m as it will already have had a value (of $80m) on the BUR B/S. Best wishes, Martin
shanklin
25/6/2019
07:19
Canaccord Genuity have yesterday raised their target price but (wait for it) only by 44p, from 1196p to 1240p. I suspect this almost instant (hence, unreflected and lacking any depth of thought) reiteration of their view that Burford is still worth less than the current share price is what may have stopped in its tracks the move-up yesterday. The 44p would seem to correspond simply to a little shopkeeper "cash in, cash out" kind of approach, of simply considering only the effect of the increase in the secondary market value to $1bn. Thus they choose to attribute no value whatsoever to the fact that this decision by the US Supreme Court removes an important element of uncertainty that has been hangong over Burford, in effect derisking to a large degree the outcome of the Petersen case. They seem to attribute no value at all to the fact that institutions were queueing up to get a slice of the action from Burford. They seem to attribute no value at all to the fact that there are now 40 other parties (just as clever and just as competent and just as savvy as CG) who will each have done their own research and decided, in effect, to trust the Burford management to deliver the goods. This is not "analysis" in any sense of the word and shows clearly how nonsensical their approach is and how ridiculous their method of valuation is. No wonder that they are the only ones out of the nine or ten analysts following Burford who are pushing this nonsense. Unfortunately, of course, the market reacts to this tripe and that harms the share price and all of us.
galatea99
Chat Pages: 287  286  285  284  283  282  281  280  279  278  277  276  Older
Your Recent History
LSE
BUR
Burford Ca..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20190718 07:18:29