Several other brokerages have also recently weighed in on BGCP. ValuEngine cut BGC Partners from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research lowered BGC Partners from a “hold” rating to a “sell” rating in a report on Monday, October 28th.
Shares of BGCP opened at $5.81 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.38. BGC Partners has a 12 month low of $4.46 and a 12 month high of $6.45. The firm’s 50 day moving average is $5.60 and its 200-day moving average is $5.33. The stock has a market capitalization of $2.03 billion, a PE ratio of 8.07 and a beta of 1.44.
BGC Partners (NASDAQ:BGCP) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. The business had revenue of $521.10 million during the quarter, compared to analysts’ expectations of $511.05 million. BGC Partners had a return on equity of 35.30% and a net margin of 2.56%. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 earnings per share. Equities research analysts predict that BGC Partners will post 0.62 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of BGCP. First Trust Advisors LP boosted its position in shares of BGC Partners by 79.8% during the 3rd quarter. First Trust Advisors LP now owns 3,362,275 shares of the financial services provider’s stock worth $18,493,000 after acquiring an additional 1,492,055 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC increased its stake in BGC Partners by 68.6% in the third quarter. Philadelphia Financial Management of San Francisco LLC now owns 3,562,223 shares of the financial services provider’s stock valued at $19,592,000 after acquiring an additional 1,449,619 shares during the last quarter. Millennium Management LLC raised its position in BGC Partners by 98.9% during the third quarter. Millennium Management LLC now owns 2,565,376 shares of the financial services provider’s stock valued at $14,109,000 after purchasing an additional 1,275,410 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in BGC Partners during the second quarter valued at approximately $4,974,000. Finally, Vanguard Group Inc. raised its position in BGC Partners by 3.7% during the second quarter. Vanguard Group Inc. now owns 26,563,720 shares of the financial services provider’s stock valued at $138,928,000 after purchasing an additional 944,600 shares in the last quarter. Institutional investors own 53.37% of the company’s stock.
BGC Partners Company 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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