BGC Partners (BGCP) Reaches New 1-Year High at $16.54
Shares of BGC Partners, Inc. (NASDAQ:BGCP) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $16.54 and last traded at $16.55, with a volume of 1034971 shares trading hands. The stock had previously closed at $16.35.
A number of analysts have recently issued reports on the company. BidaskClub upgraded BGC Partners from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. ValuEngine cut BGC Partners from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research upgraded BGC Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th.
The firm has a market capitalization of $4,763.25, a PE ratio of 16.33 and a beta of 1.27. The company has a current ratio of 1.32, a quick ratio of 1.31 and a debt-to-equity ratio of 2.97.
BGC Partners (NASDAQ:BGCP) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.29. BGC Partners had a return on equity of 42.02% and a net margin of 4.67%. The firm had revenue of $827.03 million for the quarter.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 29th. Shareholders of record on Tuesday, November 14th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date was Monday, November 13th. BGC Partners’s dividend payout ratio (DPR) is 153.19%.
In other BGC Partners news, Director Linda A. Bell sold 13,650 shares of the company’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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 44.45% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Advisor Group Inc. grew its holdings in shares of BGC Partners by 7.6% during the second quarter. Advisor Group Inc. now owns 11,974 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 850 shares during the last quarter. Sei Investments Co. lifted its stake in shares of BGC Partners by 47.8% during the second quarter. Sei Investments Co. now owns 8,312 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 2,689 shares during the period. Ffcm LLC lifted its stake in shares of BGC Partners by 169.5% during the second quarter. Ffcm LLC now owns 8,901 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 5,598 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in shares of BGC Partners during the third quarter valued at $114,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of BGC Partners by 13.1% during the second quarter. PNC Financial Services Group Inc. now owns 9,508 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 1,100 shares during the period. Institutional investors own 43.10% of the company’s stock.
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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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