BidaskClub Lowers BGC Partners (NASDAQ:BGCP) to Hold

BGC Partners (NASDAQ:BGCP) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Tuesday, January 9th.

A number of other analysts have also recently weighed in on BGCP. ValuEngine cut BGC Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research raised BGC Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th.

Shares of BGC Partners (BGCP) opened at $14.04 on Tuesday. The stock has a market capitalization of $4,055.55, a PE ratio of 29.87 and a beta of 1.06. The company has a debt-to-equity ratio of 2.97, a current ratio of 1.32 and a quick ratio of 1.31. BGC Partners has a 1 year low of $10.39 and a 1 year high of $16.97.

Several hedge funds have recently modified their holdings of BGCP. Sei Investments Co. increased its stake in BGC Partners by 47.8% in the 2nd quarter. Sei Investments Co. now owns 8,312 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 2,689 shares in the last quarter. State of Wisconsin Investment Board purchased a new position in BGC Partners during the second quarter worth $576,000. SG Americas Securities LLC increased its position in BGC Partners by 96.0% during the second quarter. SG Americas Securities LLC now owns 31,090 shares of the financial services provider’s stock worth $393,000 after buying an additional 15,231 shares in the last quarter. Legal & General Group Plc increased its position in BGC Partners by 14.6% during the second quarter. Legal & General Group Plc now owns 83,351 shares of the financial services provider’s stock worth $1,053,000 after buying an additional 10,634 shares in the last quarter. Finally, Comerica Bank purchased a new position in BGC Partners during the second quarter worth $135,000. 43.34% of the stock is owned by institutional investors and hedge funds.

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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.

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