Tonix Pharmaceuticals stock halted ahead of FDA approval news
Travis Lenkner, the Chief Development Officer of Burford Capital Ltd (LSE:BUR), recently purchased 25,283 ordinary shares of the company, according to a recent SEC filing. The shares were acquired at a price of $13.25 each, totaling approximately $334,999. The purchase comes as InvestingPro data shows the stock’s RSI indicating oversold territory, with shares trading near their 52-week low of $12.07. This transaction increases Lenkner’s direct ownership of the company’s shares to the same amount, reflecting his confidence in the company’s prospects. Burford Capital, a finance services firm with a market capitalization of $2.8 billion, continues to be a significant player in the legal finance industry. The company maintains strong fundamentals with a healthy current ratio of 5.83 and has maintained dividend payments for five consecutive years. For deeper insights into Burford Capital’s financial health and growth prospects, including additional ProTips and comprehensive analysis, visit InvestingPro.
In other recent news, Burford Capital reported a significant miss on its fourth-quarter 2024 earnings, with earnings per share (EPS) at -$0.06, falling short of the expected $0.5467. Revenue also came in below expectations at $65.69 million, compared to the forecasted $249.61 million. Despite the earnings miss, Burford Capital highlighted a strong financial performance for 2024, with a return on invested capital of 108% and total realizations of $641 million for the year. The company also reported net realized gains of $327 million, more than doubling the average annual gains over the past four years.
Burford Capital’s operating expenses decreased by 43% year-over-year, reflecting improved operational efficiency. The firm’s cash reserves grew from $300 million to over $500 million, indicating strong cash flow management. In terms of analyst activity, there were no specific upgrades or downgrades mentioned, but Deutsche Bank (ETR:DBKGn) and Jefferies analysts participated in the earnings call, seeking clarification on various aspects of the company’s performance and strategy. Burford Capital remains optimistic about its future prospects, with plans to maintain its focus on risk-adjusted returns and continue growing its portfolio. The company has scheduled an Investor Day to provide more insights into its strategic initiatives and future guidance.
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