|Bid||534.20 x 0|
|Ask||534.80 x 0|
|Day's range||522.00 - 556.20|
|52-week range||250.43 - 1,795.00|
|Beta (5Y monthly)||1.30|
|PE ratio (TTM)||5.52|
|Earnings date||28 Apr 2020|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||14 Nov 2019|
|1y target est||27.05|
(Bloomberg) -- The unraveling of German payments firm Wirecard AG just months after the downfall of hospital operator NMC Health Plc has left short sellers betting against European stocks feeling vindicated.Wirecard on Thursday said it’s filed an application for insolvency proceedings after last week revealing that 1.9 billion euros ($2.1 billion) of cash was missing. Short sellers had been criticizing Wirecard for years, but rather than investigate the company, German regulator Bafin said it would look into possible market manipulation and temporarily banned bets against the company’s stock.“With the collapse of NMC, a FTSE 100 company, and now Wirecard, a member of the DAX 30, each within the space of a few months, this should present a monumental wakeup call to European investors and regulators that fraud remains prevalent,” said Matthew Earl, managing partner at ShadowFall in London and an early short seller in Wirecard. “When short sellers or journalists attempt to highlight it, the response should not be to either ignore or persecute the skeptics, rather to open-mindedly evaluate the allegations.”Germany’s top financial regulator said this week his agency hadn’t been effective in overseeing Wirecard.Of course, not every short bet has paid off. Here’s a round-up of some of the European companies targeted by short sellers over the past year, and where they are now:NMC HealthMuddy Waters Capital in December said that Middle Eastern hospital operator NMC Health was understating its debt and overstating its cash. London-listed NMC denied wrongdoing, said it would hire an accounting firm for a review and would pursue regulatory action against third parties that tried to manipulate the share price. The company collapsed after uncovering $2.7 billion of hidden debt in March and saying fraud apparently occurred. A U.K. court placed NMC into administration in April and the stock is now worthless.EurofinsShadowFall in October criticized Eurofins Scientific SE’s governance, accounting at subsidiaries and debt levels. Short sellers had begun stepping up their bets against the stock a year earlier, and in February 2019 the Luxembourg-based company came under scrutiny by accounting and valuation analysts at Exane BNP Paribas who queried the use of smaller auditors for many of its subsidiaries. The laboratory-testing firm defended its governance practices and rejected ShadowFall’s criticism as inaccurate and unfounded. The company has seen demand for tests tied to the coronavirus pandemic, and its shares have soared 82% since their 2019 low, closing at a record high on June 3.BurfordShares in London-listed Burford Capital Ltd. tumbled after Muddy Waters in August said the litigation-finance company overstated the returns on its investments and had questionable financial reporting and governance. The stock is down 57% since the report. Burford said the short seller’s critique was “false and misleading,” though it named a new chief financial officer to replace Elizabeth O’Connell, who is married to Chief Executive Officer Christopher Bogart. Burford provided additional disclosures when it published its full-year results in April and is pursuing plans to list on the U.S. stock market.Bio-OnQuintessential Capital Management in July accused Bio-On SpA of fabricating sales and said the value of its technology to make bio plastics was questionable. The Italian company denied allegations of mismanagement and communication of false information to the market. The stock plunged more than 80% before trading was suspended in October and its founder was arrested by the Italian finance police in a probe of false accounting. Ansa reported in December that a court declared Bio-On bankrupt. The company has said it acted correctly in managing the business.AureliusLittle known Ontake Research in January said Aurelius Equity Opportunities SE has overstated the proceeds it received from selling assets. The German investment manager called Ontake’s allegations incorrect and unfounded. The stock has fallen 60% since the report came out. It’s not the first time Aurelius has been targeted by a short seller -- Gotham City Research in March 2017 said the firm appeared to be overstating its results and understating its liabilities.CasinoCasino Guichard-Perrachon SA’s complex shareholding structure, with Jean-Charles Naouri in control of the French retailer, parent Rallye SA and other holding companies on top of it, has been under scrutiny for years, leading to repeated short-seller attacks. A perceived lack of transparency and high debt levels have also been a cause of discontent. Casino has been selling assets in a bid to slash debt and its parent companies in March secured court approval for a debt-restructuring plan. Even amid protests in France and the coronavirus pandemic, the stock has risen 14% in the past year, outpacing the slumping broader market.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The Burford Capital (LON:BUR) share price has risen by 6.02% over the past month and it’s currently trading at 472.9. For investors considering whether to buy,...
In this article we will quickly re-cap the broker forecasts for Burford Capital (LON:BUR). The Burford Capital share price has risen by 21.6% over the past mon...
The Burford Capital (LON:BUR) share price has risen by 15.5% over the past month and it’s currently trading at 424. For investors considering whether to buy, h...
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Potential Burford Capital Limited (LON:BUR) shareholders may wish to note that the Chief Executive Officer...
Burford Capital (LON:BUR) shareholders are no doubt pleased to see that the share price has bounced 35% in the last...
The Burford Capital (LON:BUR) share price has risen by 8.36% over the past month and it’s currently trading at 329.3. For investors considering whether to buy,8230;
The latest analyst coverage could presage a bad day for Burford Capital Limited (LON:BUR), with the analysts making...
Momentum is sticky and persists for longer than investors tend to anticipate. The downside of this is that stocks with recent negative momentum are likely to c8230;
A Dubai appeal court has dismissed a freezing order on a $436 million superyacht belonging to a Russian billionaire at the centre of one of the world's costliest divorce battles, according to a copy of the final ruling reviewed by Reuters. Oil and gas tycoon Farkhad Akhmedov was ordered to pay about 40% of his fortune to his former wife Tatiana Akmedova by London's High Court in 2016, in one of the largest divorce settlements in legal history.
The company, which finances litigation and takes a cut from payouts, has seen its market value halve since Muddy Waters took a short position in the company last August. Burford said in a statement on Monday that 2019 net realised gains would be about $20-30 million lower year-on-year, while forecasting roughly $50-70 million decline in net unrealised gains for the same period.
While Burford Capital Limited (LON:BUR) shareholders are probably generally happy, the stock hasn't had particularly...
Liquidator Grant Thornton is seeking litigation funding to step up its hunt for 500 million pounds invested in UK company Euro Forex, which Chinese police have said was a pyramid scheme. Reuters reported in 2016 how Euro Forex, or EuroFX, allegedly scammed thousands of investors in China and other countries. EuroFX had a British CEO and headquarters and has since been wound up.
The Burford Capital (LON:BUR) share price has risen by 18.6% over the past month and it’s currently trading at 803.96p. The move follows a sharp pull back in t8230;
Burford Capital began legal action on Monday against the London Stock Exchange seeking trading data it said it needs to investigate alleged manipulation of its share price. Burford, a company which specialises in financing litigation, raised concerns about trading activity on Aug. 12 after a sharp fall in its shares, alleging 'spoofing' and 'layering', where traders make and cancel orders to influence share prices, and said it was investigating. London-listed Burford last month commissioned a report from Columbia University academic and data analyst Joshua Mitts to assess publicly available market data on its shares.
Burford Capital <BURF.L> began legal action on Monday against the London Stock Exchange <LSE.L> seeking trading data it said it needs to investigate alleged manipulation of its share price. Burford raised concerns about trading activity on Aug. 12 after a sharp fall in its shares, alleging 'spoofing' and 'layering', where traders make and cancel orders to influence share prices, and said it was investigating. A spokesperson for the LSE was not immediately able to comment when contacted by Reuters about the legal action by litigation financing specialist Burford.
Burford said there were 'strong grounds' to believe the huge decline in its share price was largely as a result of unlawful trading.
If you own shares in Burford Capital Limited (LON:BUR) then it's worth thinking about how it contributes to the...
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