BGC Partners Inc. (BGCP) Stake Lowered by Dynamic Technology Lab Private Ltd
Dynamic Technology Lab Private Ltd decreased its stake in BGC Partners Inc. (NASDAQ:BGCP) by 18.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,910 shares of the company’s stock after selling 12,901 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in BGC Partners were worth $504,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in BGC Partners by 4.7% in the second quarter. Vanguard Group Inc. now owns 14,309,115 shares of the company’s stock valued at $124,632,000 after buying an additional 637,154 shares during the period. Schroder Investment Management Group raised its position in BGC Partners by 1.6% in the second quarter. Schroder Investment Management Group now owns 8,399,748 shares of the company’s stock valued at $73,162,000 after buying an additional 129,358 shares during the period. Dimensional Fund Advisors LP raised its position in BGC Partners by 12.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,845,573 shares of the company’s stock valued at $42,205,000 after buying an additional 547,379 shares during the period. State Street Corp raised its position in BGC Partners by 3.2% in the first quarter. State Street Corp now owns 3,753,702 shares of the company’s stock valued at $33,974,000 after buying an additional 118,153 shares during the period. Finally, Edge Asset Management Inc. raised its position in BGC Partners by 20.2% in the second quarter. Edge Asset Management Inc. now owns 2,436,457 shares of the company’s stock valued at $21,222,000 after buying an additional 409,643 shares during the period. 38.79% of the stock is currently owned by hedge funds and other institutional investors.
BGC Partners Inc. (NASDAQ:BGCP) opened at 9.04 on Tuesday. BGC Partners Inc. has a 52 week low of $7.80 and a 52 week high of $9.90. The stock’s 50 day moving average price is $8.91 and its 200 day moving average price is $8.97. The company has a market capitalization of $2.50 billion, a P/E ratio of 18.72 and a beta of 1.32.
BGC Partners (NASDAQ:BGCP) last announced its earnings results on Thursday, July 28th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. BGC Partners had a return on equity of 24.31% and a net margin of 5.01%. The company had revenue of $652 million for the quarter, compared to analyst estimates of $665.70 million. During the same quarter in the prior year, the company earned $0.18 EPS. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. Analysts anticipate that BGC Partners Inc. will post $0.84 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 18th were given a dividend of $0.16 per share. The ex-dividend date was Tuesday, August 16th. This represents a $0.64 annualized dividend and a dividend yield of 7.12%. BGC Partners’s payout ratio is 128.00%.
Separately, Zacks Investment Research lowered BGC Partners from a “hold” rating to a “strong sell” rating in a research report on Friday, July 1st.
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. The Company provides a range of services, including trade execution, broker-dealer services, clearing, processing, information, and other back-office services to a range of financial and non-financial institutions.
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