Riverhead Capital Management LLC acquired a new position in shares of BGC Partners, Inc. (NASDAQ:BGCP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,337 shares of the financial services provider’s stock, valued at approximately $28,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of BGCP. Principal Financial Group Inc. raised its holdings in BGC Partners by 8.3% during the 1st quarter. Principal Financial Group Inc. now owns 18,685,542 shares of the financial services provider’s stock worth $99,223,000 after buying an additional 1,436,046 shares during the period. First Trust Advisors LP acquired a new position in shares of BGC Partners in the 1st quarter valued at about $6,086,000. Raymond James Financial Services Advisors Inc. increased its holdings in shares of BGC Partners by 29.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 2,267,419 shares of the financial services provider’s stock valued at $12,040,000 after purchasing an additional 515,630 shares during the period. Parametric Portfolio Associates LLC increased its holdings in shares of BGC Partners by 33.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 1,880,669 shares of the financial services provider’s stock valued at $9,986,000 after purchasing an additional 474,577 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of BGC Partners by 16.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,631,418 shares of the financial services provider’s stock valued at $13,552,000 after purchasing an additional 376,883 shares during the period. Hedge funds and other institutional investors own 52.61% of the company’s stock.
BGCP has been the topic of a number of research reports. Zacks Investment Research downgraded BGC Partners from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. BidaskClub upgraded BGC Partners from a “buy” rating to a “strong-buy” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $11.00.
Shares of BGCP traded down $0.02 during trading hours on Friday, reaching $5.66. The company’s stock had a trading volume of 1,657,218 shares, compared to its average volume of 1,437,589. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 7.86 and a beta of 1.43. BGC Partners, Inc. has a 1-year low of $4.46 and a 1-year high of $12.14. The company has a quick ratio of 1.09, a current ratio of 1.11 and a debt-to-equity ratio of 1.25. The company has a 50 day moving average of $5.18 and a two-hundred day moving average of $5.32.
BGC Partners (NASDAQ:BGCP) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The business had revenue of $551.20 million during the quarter, compared to analyst estimates of $546.65 million. BGC Partners had a net margin of 6.98% and a return on equity of 38.17%. BGC Partners’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. As a group, analysts forecast that BGC Partners, Inc. will post 0.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a $0.14 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $0.56 annualized dividend and a dividend yield of 9.89%. BGC Partners’s payout ratio is 77.78%.
BGC Partners Profile
BGC Partners, Inc operates as a brokerage and financial technology company worldwide. It offers various brokerage products, such as fixed income, foreign exchange, equities, energy and commodities, insurance, and futures. The company also provides other services that include trade execution, broker dealer, clearing, trade compression, post-trade, information, and other back office services to financial and non-financial institutions.
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