BGC Partners Inc. (BGCP) Shares Up 2.7%
BGC Partners Inc. (NASDAQ:BGCP) shares shot up 2.7% during mid-day trading on Monday . The stock traded as high as $9.14 and last traded at $9.11, with a volume of 838,135 shares traded. The stock had previously closed at $8.87.
Separately, Zacks Investment Research cut shares of BGC Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, July 1st.
The firm’s 50 day moving average price is $8.81 and its 200-day moving average price is $8.95. The firm has a market cap of $2.49 billion and a price-to-earnings ratio of 18.6969.
BGC Partners (NASDAQ:BGCP) last released its earnings results on Thursday, July 28th. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. During the same period last year, the business posted $0.18 EPS. The business earned $652 million during the quarter, compared to the consensus estimate of $665.70 million. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities analysts expect that BGC Partners Inc. will post $0.84 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 7.10%. The ex-dividend date is Tuesday, August 16th.
A number of hedge funds have recently made changes to their positions in BGCP. Rhumbline Advisers boosted its stake in shares of 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. Nationwide Fund Advisors boosted its stake in shares of BGC Partners by 0.5% in the fourth quarter. Nationwide Fund Advisors now owns 197,072 shares of the company’s stock worth $1,933,000 after buying an additional 1,035 shares in the last quarter. Redwood Investments LLC boosted its stake in shares of 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. California Public Employees Retirement System boosted its stake in shares of 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, Eagle Asset Management boosted its stake in shares of BGC Partners by 190.8% in the third quarter. Eagle Asset Management now owns 3,021,320 shares of the company’s stock worth $24,834,000 after buying an additional 1,982,192 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 and Real Estate Services. The Company provides a range of services, including trade execution, broker-dealer services, clearing, processing, information, and other back-office services to a range of financial and non-financial institutions.
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