BGC Partners, Inc. (BGCP) Stake Increased by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 1.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,619,070 shares of the financial services provider’s stock after buying an additional 308,977 shares during the quarter. Vanguard Group Inc. owned approximately 6.51% of BGC Partners worth $235,346,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of BGC Partners by 66,726.9% during the first quarter. BlackRock Inc. now owns 14,384,491 shares of the financial services provider’s stock worth $163,409,000 after buying an additional 14,362,966 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of BGC Partners by 247.8% during the second quarter. Principal Financial Group Inc. now owns 7,921,620 shares of the financial services provider’s stock worth $100,129,000 after buying an additional 5,643,875 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of BGC Partners by 11.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,367,855 shares of the financial services provider’s stock worth $72,338,000 after buying an additional 643,716 shares in the last quarter. State Street Corp grew its position in shares of BGC Partners by 2.4% during the first quarter. State Street Corp now owns 4,409,057 shares of the financial services provider’s stock worth $50,085,000 after buying an additional 102,825 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of BGC Partners by 20.7% during the second quarter. JPMorgan Chase & Co. now owns 3,061,709 shares of the financial services provider’s stock worth $38,700,000 after buying an additional 525,899 shares in the last quarter. 42.26% of the stock is owned by institutional investors and hedge funds.

BGC Partners, Inc. (BGCP) opened at 16.01 on Friday. The firm has a 50-day moving average of $14.00 and a 200-day moving average of $12.53. BGC Partners, Inc. has a 12-month low of $8.36 and a 12-month high of $16.51. The firm has a market cap of $4.52 billion, a P/E ratio of 43.98 and a beta of 1.31.

BGC Partners (NASDAQ:BGCP) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. The business had revenue of $737.80 million for the quarter, compared to analysts’ expectations of $716.00 million. BGC Partners had a return on equity of 35.60% and a net margin of 4.23%. BGC Partners’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 earnings per share. On average, analysts expect that BGC Partners, Inc. will post $1.07 EPS for the current year.

A number of analysts have recently weighed in on BGCP shares. BidaskClub raised shares of BGC Partners from a “hold” rating to a “buy” rating in a research report on Friday, July 7th. ValuEngine raised shares of BGC Partners from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research downgraded shares of BGC Partners from a “buy” rating to a “hold” rating in a research report on Friday, July 28th.

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In other BGC Partners news, Director Linda A. Bell sold 13,650 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $14.70, for a total value of $200,655.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 37.40% of the company’s stock.

BGC Partners Company Profile

BGC Partners, Inc (BGC) is a global brokerage company servicing the financial and real estate markets. The Company operates through two segments: Financial Services and Real Estate Services. It provides a range of services, including trade execution, broker-dealer services clearing, trade compression, post trade, information, and other back-office services to a range of financial and non-financial institutions.

Institutional Ownership by Quarter for BGC Partners (NASDAQ:BGCP)

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