Shares of BGC Partners, Inc. (NASDAQ:BGCP) have been given an average recommendation of “Hold” by the six ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $16.00.
BGCP has been the topic of several analyst reports. ValuEngine lowered BGC Partners from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 22nd. Zacks Investment Research lowered BGC Partners from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. Raymond James lowered their price objective on BGC Partners from $17.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 26th. BidaskClub lowered BGC Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. Finally, TheStreet lowered BGC Partners from a “b” rating to a “c+” rating in a research note on Wednesday, December 19th.
Shares of BGCP opened at $6.11 on Wednesday. BGC Partners has a 12-month low of $4.93 and a 12-month high of $14.96. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market cap of $1.98 billion, a P/E ratio of 5.09 and a beta of 1.22.
BGC Partners (NASDAQ:BGCP) last issued its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.03). BGC Partners had a net margin of 2.49% and a return on equity of 43.44%. The firm had revenue of $977.25 million for the quarter, compared to the consensus estimate of $969.00 million. Analysts anticipate that BGC Partners will post 1.41 EPS for the current fiscal year.
In other BGC Partners news, insider Sean Galvin purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The shares were acquired at an average cost of $11.08 per share, for a total transaction of $221,600.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 32.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew its position in BGC Partners by 2.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 741,277 shares of the financial services provider’s stock worth $8,762,000 after acquiring an additional 16,103 shares during the last quarter. Swiss National Bank grew its position in BGC Partners by 4.5% during the 3rd quarter. Swiss National Bank now owns 419,508 shares of the financial services provider’s stock worth $4,959,000 after acquiring an additional 17,900 shares during the last quarter. Allianz Asset Management GmbH grew its position in BGC Partners by 6.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,685,186 shares of the financial services provider’s stock worth $31,739,000 after acquiring an additional 154,295 shares during the last quarter. Nomura Holdings Inc. grew its position in BGC Partners by 607.6% during the 2nd quarter. Nomura Holdings Inc. now owns 200,848 shares of the financial services provider’s stock worth $2,274,000 after acquiring an additional 172,462 shares during the last quarter. Finally, Vident Investment Advisory LLC grew its position in BGC Partners by 148.6% during the 2nd quarter. Vident Investment Advisory LLC now owns 38,495 shares of the financial services provider’s stock worth $436,000 after acquiring an additional 23,012 shares during the last quarter. Institutional investors and hedge funds own 51.42% of the company’s stock.
About BGC Partners
BGC Partners, Inc operates as a brokerage company servicing the financial and real estate markets worldwide. It operates in two segments, Financial Services and Real Estate Services. The Financial Services segment provides brokerage services for fixed income, interest rate derivatives, spot foreign exchange, foreign exchange derivatives, government bonds, corporate bonds, credit derivatives, insurance and money market products, energy, metals, equity derivatives, and structured market data products and services.
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