BGC Partners, Inc. (BGCP) Sees Large Growth in Short Interest
BGC Partners, Inc. (NASDAQ:BGCP) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 1,318,530 shares, a growth of 27.8% from the July 14th total of 1,031,642 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average trading volume of 1,750,025 shares, the short-interest ratio is currently 0.8 days.
A number of analysts recently weighed in on BGCP shares. Zacks Investment Research lowered shares of BGC Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 30th. BidaskClub raised shares of BGC Partners from a “hold” rating to a “buy” rating in a report on Sunday, July 16th.
Shares of BGC Partners (BGCP) opened at 12.47 on Friday. The company’s 50-day moving average is $12.72 and its 200-day moving average is $11.77. BGC Partners has a 12-month low of $8.36 and a 12-month high of $13.44. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 31.41 and a beta of 1.29.
BGC Partners (NASDAQ:BGCP) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. BGC Partners had a net margin of 4.23% and a return on equity of 35.60%. The business had revenue of $737.80 million for the quarter, compared to the consensus estimate of $716 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities research analysts predict that BGC Partners will post $0.99 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 28th. Shareholders of record on Monday, August 14th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 5.77%. The ex-dividend date is Thursday, August 10th. BGC Partners’s dividend payout ratio is currently 180.00%.
Institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. increased its position in BGC Partners by 47.8% in the second quarter. Sei Investments Co. now owns 8,312 shares of the financial services provider’s stock valued at $105,000 after buying an additional 2,689 shares during the period. Ffcm LLC increased its position in BGC Partners by 169.5% in the second quarter. Ffcm LLC now owns 8,901 shares of the financial services provider’s stock valued at $113,000 after buying an additional 5,598 shares during the period. PNC Financial Services Group Inc. increased its position in BGC Partners by 13.1% in the second quarter. PNC Financial Services Group Inc. now owns 9,508 shares of the financial services provider’s stock valued at $120,000 after buying an additional 1,100 shares during the period. Bronfman E.L. Rothschild L.P. bought a new position in BGC Partners during the second quarter valued at approximately $124,000. Finally, Comerica Bank bought a new position in BGC Partners during the second quarter valued at approximately $135,000. 45.88% of the stock is currently owned by hedge funds and other institutional investors.
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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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