King Luther Capital Management Corp reduced its position in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 26.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 235,900 shares of the financial services provider’s stock after selling 86,815 shares during the quarter. King Luther Capital Management Corp owned 0.08% of BGC Partners worth $2,982,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BGCP. Bank of Montreal Can boosted its stake in shares of BGC Partners by 23.1% during the 1st quarter. Bank of Montreal Can now owns 55,789 shares of the financial services provider’s stock worth $633,000 after acquiring an additional 10,469 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of BGC Partners by 17.4% during the 1st quarter. Wells Fargo & Company MN now owns 567,501 shares of the financial services provider’s stock worth $6,446,000 after acquiring an additional 84,031 shares in the last quarter. Eqis Capital Management Inc. purchased a new stake in shares of BGC Partners during the 1st quarter worth about $182,000. First Trust Advisors LP boosted its stake in shares of BGC Partners by 31.7% during the 1st quarter. First Trust Advisors LP now owns 110,582 shares of the financial services provider’s stock worth $1,256,000 after acquiring an additional 26,643 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of BGC Partners by 4.1% during the 1st 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 acquiring an additional 77,964 shares in the last quarter. 43.76% of the stock is currently owned by institutional investors and hedge funds.

BGC Partners, Inc. (BGCP) opened at 13.14 on Friday. BGC Partners, Inc. has a 52 week low of $8.36 and a 52 week high of $13.44. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 33.10 and a beta of 1.31. The company has a 50-day moving average of $12.83 and a 200-day moving average of $12.04.

BGC Partners (NASDAQ:BGCP) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. BGC Partners had a net margin of 4.23% and a return on equity of 35.60%. The company had revenue of $737.80 million for the quarter, compared to analyst estimates of $716.00 million. During the same period in the prior year, the business posted $0.21 earnings per share. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. Analysts anticipate that BGC Partners, Inc. will post $0.99 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 28th. Shareholders of record on Monday, August 14th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $0.72 annualized dividend and a yield of 5.48%. BGC Partners’s payout ratio is currently 180.00%.

Several equities research analysts have recently issued reports on BGCP shares. Zacks Investment Research lowered shares of BGC Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 30th. BidaskClub lowered shares of BGC Partners from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Finally, ValuEngine raised shares of BGC Partners from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st.

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About BGC Partners

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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