BlackRock Inc. raised its position in BGC Partners, Inc. (NASDAQ:BGCP) by 66,726.9% during the first quarter, Holdings Channel reports. The firm owned 14,384,491 shares of the financial services provider’s stock after buying an additional 14,362,966 shares during the period. BlackRock Inc. owned 0.05% of BGC Partners worth $163,409,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of BGC Partners by 7.1% in the first quarter. Vanguard Group Inc. now owns 18,310,093 shares of the financial services provider’s stock worth $208,003,000 after buying an additional 1,214,964 shares during the period. Dimensional Fund Advisors LP increased its position in shares of BGC Partners by 11.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,367,855 shares of the financial services provider’s stock worth $72,338,000 after buying an additional 643,716 shares during the period. Edge Asset Management Inc. increased its position in shares of BGC Partners by 19.5% in the first quarter. Edge Asset Management Inc. now owns 4,260,061 shares of the financial services provider’s stock worth $48,394,000 after buying an additional 694,519 shares during the period. Principal Financial Group Inc. increased its position in shares of BGC Partners by 24.9% in the first quarter. Principal Financial Group Inc. now owns 2,277,745 shares of the financial services provider’s stock worth $25,875,000 after buying an additional 454,076 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of BGC Partners by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 1,986,307 shares of the financial services provider’s stock worth $22,564,000 after buying an additional 77,964 shares during the period. 45.93% of the stock is owned by institutional investors and hedge funds.

BGC Partners, Inc. (BGCP) opened at 13.34 on Friday. The stock’s 50 day moving average price is $12.49 and its 200-day moving average price is $11.55. The stock has a market capitalization of $3.80 billion, a P/E ratio of 35.29 and a beta of 1.29. BGC Partners, Inc. has a 52 week low of $8.36 and a 52 week high of $13.40.

BGC Partners (NASDAQ:BGCP) last issued its quarterly earnings data on Thursday, May 4th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The business had revenue of $707.40 million during the quarter, compared to the consensus estimate of $693 million. BGC Partners had a return on equity of 32.21% and a net margin of 4.14%. The business’s revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. Equities research analysts expect that BGC Partners, Inc. will post $1.00 earnings per share for the current year.

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BGCP has been the subject of a number of analyst reports. Zacks Investment Research downgraded BGC Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 30th. BidaskClub raised BGC Partners from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th.

BGC Partners Company Profile

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. It provides a range of services, including trade execution, broker-dealer services clearing, trade compression, post trade, information, and other back-office services to a range of financial and non-financial institutions.

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Institutional Ownership by Quarter for BGC Partners (NASDAQ:BGCP)

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