Raymond James & Associates increased its position in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 149.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,583,444 shares of the financial services provider’s stock after purchasing an additional 3,348,709 shares during the quarter. Raymond James & Associates owned 1.76% of BGC Partners worth $63,205,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Keybank National Association OH acquired a new stake in BGC Partners in the second quarter worth $113,000. Comerica Bank acquired a new stake in BGC Partners in the second quarter worth $115,000. CIBC Asset Management Inc acquired a new stake in BGC Partners in the second quarter worth $127,000. Signition LP acquired a new stake in BGC Partners in the first quarter worth $135,000. Finally, Ancora Advisors LLC acquired a new stake in BGC Partners in the first quarter worth $148,000. Hedge funds and other institutional investors own 51.57% of the company’s stock.
Several equities research analysts have weighed in on the company. Zacks Investment Research raised BGC Partners from a “sell” rating to a “hold” rating in a research report on Monday, June 25th. BidaskClub raised BGC Partners from a “strong sell” rating to a “sell” rating in a research report on Friday, August 3rd. Finally, ValuEngine lowered BGC Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, May 29th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. BGC Partners presently has an average rating of “Buy” and a consensus price target of $13.00.
Shares of NASDAQ BGCP opened at $12.16 on Friday. BGC Partners, Inc. has a 1-year low of $10.39 and a 1-year high of $16.97. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 10.13 and a beta of 1.02.
BGC Partners (NASDAQ:BGCP) last issued its earnings results on Thursday, August 2nd. The financial services provider reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.02. The firm had revenue of $960.08 million for the quarter, compared to analyst estimates of $938.00 million. BGC Partners had a return on equity of 46.19% and a net margin of 1.53%. During the same period last year, the company earned $0.24 earnings per share. sell-side analysts anticipate that BGC Partners, Inc. will post 1.38 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 5th. Stockholders of record on Monday, August 20th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date of this dividend was Friday, August 17th. BGC Partners’s dividend payout ratio (DPR) is 60.00%.
In other BGC Partners news, Director William J. Moran purchased 10,000 shares of the stock in a transaction dated Thursday, August 2nd. The shares were bought at an average cost of $11.09 per share, with a total value of $110,900.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 32.80% of the stock is currently owned by company insiders.
BGC Partners Company Profile
BGC Partners, Inc operates as a brokerage company servicing the financial and real estate markets worldwide. It operates in two segments, Financial Services and Real Estate Services. The Financial Services segment provides brokerage services for fixed income, interest rate derivatives, spot foreign exchange, foreign exchange derivatives, government bonds, corporate bonds, credit derivatives, insurance and money market products, energy, metals, equity derivatives, and structured market data products and services.
Featured Article: Short Selling Stocks and Day Traders
Want to see what other hedge funds are holding BGCP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BGC Partners, Inc. (NASDAQ:BGCP).
Receive News & Ratings for BGC Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BGC Partners and related companies with MarketBeat.com's FREE daily email newsletter.