Raymond James Financial Services Advisors Inc. trimmed its holdings in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 18.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,096,267 shares of the financial services provider’s stock after selling 255,200 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in BGC Partners were worth $16,564,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in BGCP. Advisor Group Inc. raised its stake in shares of BGC Partners by 7.6% during the 2nd quarter. Advisor Group Inc. now owns 11,974 shares of the financial services provider’s stock worth $103,000 after buying an additional 850 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in shares of BGC Partners during the 3rd quarter worth approximately $114,000. PNC Financial Services Group Inc. raised its stake in shares of BGC Partners by 13.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,508 shares of the financial services provider’s stock worth $120,000 after buying an additional 1,100 shares during the period. Miller Howard Investments Inc. NY acquired a new position in shares of BGC Partners during the 3rd quarter worth approximately $148,000. Finally, B. Riley Financial Inc. acquired a new position in shares of BGC Partners during the 3rd quarter worth approximately $153,000. 43.15% of the stock is owned by institutional investors and hedge funds.
Shares of BGC Partners, Inc. (NASDAQ BGCP) opened at $13.70 on Monday. The company has a debt-to-equity ratio of 2.97, a quick ratio of 1.31 and a current ratio of 1.32. BGC Partners, Inc. has a 12-month low of $10.39 and a 12-month high of $16.97. The company has a market capitalization of $3,957.34, a P/E ratio of 12.34 and a beta of 1.06.
BGC Partners (NASDAQ:BGCP) last issued its quarterly earnings results on Friday, February 9th. The financial services provider reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.07. BGC Partners had a return on equity of 48.27% and a net margin of 0.05%. The firm had revenue of $894.23 million during the quarter, compared to analysts’ expectations of $853.00 million. During the same period in the previous year, the business earned $0.25 earnings per share. analysts predict that BGC Partners, Inc. will post 1.35 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Investors of record on Tuesday, February 27th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 5.26%. The ex-dividend date of this dividend is Monday, February 26th.
Several research analysts have recently weighed in on the company. TheStreet downgraded BGC Partners from a “b” rating to a “c+” rating in a research note on Monday, February 12th. BGC Financial raised BGC Partners from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. BidaskClub downgraded BGC Partners from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 15th. Finally, ValuEngine cut BGC Partners from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $18.00.
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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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