BGC Partners Inc. (BGCP) Trading 2.7% Higher
Shares of BGC Partners Inc. (NASDAQ:BGCP) traded up 2.7% on Monday . The stock traded as high as $9.14 and last traded at $9.11, with a volume of 838,135 shares changing hands. The stock had previously closed at $8.87.
Separately, Zacks Investment Research downgraded BGC Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, July 1st.
The stock has a market cap of $2.53 billion and a P/E ratio of 19.04. The company has a 50 day moving average price of $8.81 and a 200-day moving average price of $8.94.
BGC Partners (NASDAQ:BGCP) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.19 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.19. The firm earned $652 million during the quarter, compared to the consensus estimate of $665.70 million. BGC Partners’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 EPS. On average, analysts forecast that BGC Partners Inc. will post $0.84 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, August 18th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.99%. The ex-dividend date of this dividend is Tuesday, August 16th.
Several hedge funds have recently added to or reduced their stakes in the stock. Redwood Investments LLC boosted its stake in BGC Partners by 68.3% in the fourth quarter. Redwood Investments LLC now owns 234,354 shares of the company’s stock worth $2,299,000 after buying an additional 95,103 shares in the last quarter. Buckhead Capital Management LLC boosted its stake in BGC Partners by 13.7% in the fourth quarter. Buckhead Capital Management LLC now owns 144,880 shares of the company’s stock worth $1,421,000 after buying an additional 17,500 shares in the last quarter. Edge Asset Management Inc. purchased a new stake in BGC Partners during the fourth quarter worth approximately $9,215,000. California Public Employees Retirement System boosted its stake in BGC Partners by 4.4% in the fourth quarter. California Public Employees Retirement System now owns 857,200 shares of the company’s stock worth $8,409,000 after buying an additional 36,300 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in BGC Partners by 8.2% in the fourth quarter. Rhumbline Advisers now owns 181,296 shares of the company’s stock worth $1,779,000 after buying an additional 13,690 shares in the last quarter.
BGC Partners Inc (BGC) is a global brokerage company servicing the financial and real estate markets. The Company operates through two segments: Financial Services, which offers fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commodities, futures and structured products, and Real Estate Services (or Newmark Grubb Knight Frank (NGKF)), which is a full-service commercial real estate platform that consists of its Real Estate Services segment.
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