Treasurer of the State of North Carolina increased its position in BGC Partners, Inc. (NASDAQ:BGCP) by 4.5% during the second quarter, Holdings Channel reports. The firm owned 140,912 shares of the financial services provider’s stock after buying an additional 6,100 shares during the quarter. Treasurer of the State of North Carolina’s holdings in BGC Partners were worth $737,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC bought a new stake in shares of BGC Partners in the 2nd quarter valued at about $25,000. Rockefeller Capital Management L.P. bought a new stake in shares of BGC Partners in the 2nd quarter valued at about $27,000. Riverhead Capital Management LLC bought a new stake in shares of BGC Partners in the 2nd quarter valued at about $28,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of BGC Partners in the 2nd quarter valued at about $33,000. Finally, Enterprise Financial Services Corp raised its holdings in shares of BGC Partners by 21.4% in the 2nd quarter. Enterprise Financial Services Corp now owns 11,195 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 1,973 shares during the period. 52.56% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of BGC Partners from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. BidaskClub raised shares of BGC Partners from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 12th. Finally, ValuEngine raised shares of BGC Partners from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $11.00.
BGC Partners stock opened at $5.49 on Friday. The stock has a market cap of $1.84 billion, a P/E ratio of 7.62 and a beta of 1.44. The company has a quick ratio of 1.09, a current ratio of 1.11 and a debt-to-equity ratio of 1.25. BGC Partners, Inc. has a twelve month low of $4.46 and a twelve month high of $11.43. The company’s 50-day moving average price is $5.36 and its two-hundred day moving average price is $5.27.
BGC Partners (NASDAQ:BGCP) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). The company had revenue of $551.20 million during the quarter, compared to the consensus estimate of $546.65 million. BGC Partners had a net margin of 6.98% and a return on equity of 38.17%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 earnings per share. Equities analysts anticipate that BGC Partners, Inc. will post 0.63 earnings per share for the current fiscal year.
About BGC Partners
BGC Partners, Inc operates as a brokerage and financial technology company worldwide. It offers various brokerage products, such as fixed income, foreign exchange, equities, energy and commodities, insurance, and futures. The company also provides other services that include trade execution, broker dealer, clearing, trade compression, post-trade, information, and other back office services to financial and non-financial institutions.
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