BGC Partners, Inc. (BGCP) Sees Large Decrease in Short Interest
BGC Partners, Inc. (NASDAQ:BGCP) saw a significant decline in short interest in February. As of February 15th, there was short interest totalling 1,558,169 shares, a decline of 46.6% from the January 31st total of 2,918,142 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average daily volume of 2,520,360 shares, the days-to-cover ratio is currently 0.6 days.
A number of institutional investors have recently added to or reduced their stakes in BGCP. Renaissance Technologies LLC boosted its holdings in BGC Partners by 89.0% in the fourth quarter. Renaissance Technologies LLC now owns 3,762,048 shares of the financial services provider’s stock worth $56,845,000 after acquiring an additional 1,771,548 shares in the last quarter. Millennium Management LLC boosted its holdings in BGC Partners by 79.3% in the fourth quarter. Millennium Management LLC now owns 3,665,986 shares of the financial services provider’s stock worth $55,393,000 after acquiring an additional 1,620,823 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in BGC Partners by 70.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,847,509 shares of the financial services provider’s stock worth $58,136,000 after acquiring an additional 1,594,437 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in BGC Partners by 19.1% in the third quarter. Principal Financial Group Inc. now owns 9,436,839 shares of the financial services provider’s stock worth $136,552,000 after acquiring an additional 1,515,219 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of BGC Partners by 284.6% during the third quarter. Wells Fargo & Company MN now owns 1,597,002 shares of the financial services provider’s stock valued at $23,108,000 after purchasing an additional 1,181,790 shares in the last quarter. 43.15% of the stock is currently owned by institutional investors and hedge funds.
Shares of BGC Partners (NASDAQ:BGCP) opened at $13.25 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 1.45. BGC Partners has a 1-year low of $10.39 and a 1-year high of $16.97. The company has a market capitalization of $3,784.03, a price-to-earnings ratio of 11.80 and a beta of 1.10.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 13th. Shareholders of record on Tuesday, February 27th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 5.43%. The ex-dividend date is Monday, February 26th.
Several equities research analysts recently weighed in on BGCP shares. BidaskClub lowered BGC Partners from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 15th. ValuEngine downgraded BGC Partners from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. BGC Financial raised BGC Partners from a “hold” rating to a “buy” rating in a report on Tuesday, February 13th. Finally, TheStreet downgraded BGC Partners from a “b” rating to a “c+” rating in a report on Monday, February 12th. One analyst has rated the stock with a sell rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $18.00.
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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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