Verition Fund Management LLC lifted its holdings in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 344.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,575 shares of the financial services provider’s stock after buying an additional 69,434 shares during the quarter. Verition Fund Management LLC’s holdings in BGC Partners were worth $1,353,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Assetmark Inc. increased its position in shares of BGC Partners by 270.2% during the fourth quarter. Assetmark Inc. now owns 6,912 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 5,045 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of BGC Partners during the third quarter worth approximately $114,000. Cornerstone Wealth Management LLC purchased a new stake in shares of BGC Partners during the fourth quarter worth approximately $153,000. B. Riley Financial Inc. purchased a new stake in shares of BGC Partners during the third quarter worth approximately $153,000. Finally, Elkfork Partners LLC increased its position in shares of BGC Partners by 644.1% during the fourth quarter. Elkfork Partners LLC now owns 11,296 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 9,778 shares in the last quarter. 44.35% of the stock is owned by institutional investors and hedge funds.
NASDAQ:BGCP traded down $0.28 during trading hours on Friday, hitting $13.16. The company had a trading volume of 1,762,237 shares, compared to its average volume of 2,022,404. BGC Partners, Inc. has a 1 year low of $10.60 and a 1 year high of $16.97. The stock has a market cap of $4,030.13, a P/E ratio of 10.97 and a beta of 1.13. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 1.45.
BGC Partners (NASDAQ:BGCP) last announced its quarterly earnings results on Friday, February 9th. The financial services provider reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.07. BGC Partners had a return on equity of 47.22% and a net margin of 0.05%. The business had revenue of $894.23 million for the quarter, compared to analyst estimates of $853.00 million. During the same quarter in the prior year, the company posted $0.25 EPS. equities analysts anticipate that BGC Partners, Inc. will post 1.37 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 13th. Investors of record on Tuesday, February 27th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 5.47%. The ex-dividend date was Monday, February 26th. BGC Partners’s payout ratio is 60.00%.
Several analysts have issued reports on BGCP shares. BidaskClub cut BGC Partners from a “strong-buy” rating to a “buy” rating in a report on Friday, December 15th. BGC Financial upgraded BGC Partners from a “hold” rating to a “buy” rating in a report on Tuesday, February 13th. TheStreet cut BGC Partners from a “b” rating to a “c+” rating in a report on Monday, February 12th. Finally, ValuEngine cut BGC Partners from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target 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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