BGC Partners (BGCP) Hits New 12-Month High at $16.92
BGC Partners, Inc. (NASDAQ:BGCP) hit a new 52-week high on Monday . The company traded as high as $16.92 and last traded at $16.68, with a volume of 1587500 shares changing hands. The stock had previously closed at $16.69.
BGCP has been the subject of a number of research analyst reports. ValuEngine raised BGC Partners from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Zacks Investment Research raised BGC Partners from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research report on Wednesday, October 4th. Finally, BidaskClub raised BGC Partners from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th.
The stock has a market cap of $4,818.13, a PE ratio of 16.51 and a beta of 1.27. The company has a quick ratio of 1.31, a current ratio of 1.32 and a debt-to-equity ratio of 2.97.
BGC Partners (NASDAQ:BGCP) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.29 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. The firm had revenue of $827.03 million during the quarter. BGC Partners had a return on equity of 42.02% and a net margin of 4.67%.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 29th. Stockholders of record on Tuesday, November 14th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.39%. The ex-dividend date was Monday, November 13th. BGC Partners’s payout ratio is 153.19%.
In other news, Director Linda A. Bell sold 13,650 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $14.70, for a total value of $200,655.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 44.45% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Advisor Group Inc. increased its position in BGC Partners by 7.6% during the 2nd quarter. Advisor Group Inc. now owns 11,974 shares of the financial services provider’s stock valued at $103,000 after buying an additional 850 shares in the last quarter. Sei Investments Co. increased its position in BGC Partners by 47.8% during the 2nd quarter. Sei Investments Co. now owns 8,312 shares of the financial services provider’s stock valued at $105,000 after buying an additional 2,689 shares in the last quarter. Ffcm LLC increased its position in BGC Partners by 169.5% during the 2nd quarter. Ffcm LLC now owns 8,901 shares of the financial services provider’s stock valued at $113,000 after buying an additional 5,598 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in BGC Partners during the 3rd quarter valued at about $114,000. Finally, PNC Financial Services Group Inc. increased its position in BGC Partners by 13.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,508 shares of the financial services provider’s stock valued at $120,000 after buying an additional 1,100 shares in the last quarter. 43.10% of the stock is currently owned by institutional investors.
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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