BGC Partners (BGCP) Downgraded by BidaskClub to “Hold”
BGC Partners (NASDAQ:BGCP) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
BGCP has been the topic of several other reports. Zacks Investment Research upgraded shares of BGC Partners from a “hold” rating to a “strong-buy” rating and set a $18.00 target price on the stock in a research note on Wednesday, October 4th. ValuEngine cut shares of BGC Partners from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st.
BGC Partners (NASDAQ:BGCP) traded up $0.09 during midday trading on Tuesday, reaching $14.79. 2,667,000 shares of the company’s stock traded hands, compared to its average volume of 1,997,386. BGC Partners has a fifty-two week low of $10.39 and a fifty-two week high of $16.97. The company has a quick ratio of 1.31, a current ratio of 1.32 and a debt-to-equity ratio of 2.97. The stock has a market cap of $4,250.00, a PE ratio of 23.48 and a beta of 1.27.
BGC Partners (NASDAQ:BGCP) last posted its earnings results on Thursday, October 26th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. BGC Partners had a net margin of 4.67% and a return on equity of 42.02%. The business had revenue of $827.03 million for the quarter.
Several institutional investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC raised its position in shares of BGC Partners by 11.4% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,262,771 shares of the financial services provider’s stock valued at $18,272,000 after buying an additional 129,237 shares in the last quarter. Insight Capital Research & Management Inc. purchased a new stake in shares of BGC Partners during the 3rd quarter valued at $1,363,000. California Public Employees Retirement System raised its position in BGC Partners by 9.9% in the 3rd quarter. California Public Employees Retirement System now owns 807,948 shares of the financial services provider’s stock worth $11,691,000 after purchasing an additional 72,648 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its position in BGC Partners by 4.6% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 141,764 shares of the financial services provider’s stock worth $2,052,000 after purchasing an additional 6,236 shares during the period. Finally, Granahan Investment Management Inc. MA raised its position in BGC Partners by 29.8% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 175,774 shares of the financial services provider’s stock worth $2,543,000 after purchasing an additional 40,317 shares during the period. Hedge funds and other institutional investors own 43.04% of the company’s stock.
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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