BidaskClub upgraded shares of BGC Partners, Inc. (NASDAQ:BGCP) from a hold rating to a buy rating in a research note published on Sunday.

Separately, Zacks Investment Research upgraded shares of BGC Partners from a hold rating to a strong-buy rating and set a $13.00 price target on the stock in a research report on Monday, April 3rd.

Shares of BGC Partners (NASDAQ:BGCP) traded up 0.08% during midday trading on Friday, hitting $12.94. 921,183 shares of the stock were exchanged. BGC Partners has a 1-year low of $8.36 and a 1-year high of $13.02. The firm has a 50-day moving average of $11.95 and a 200-day moving average of $11.28. The company has a market capitalization of $3.69 billion, a P/E ratio of 34.23 and a beta of 1.29.

BGC Partners (NASDAQ:BGCP) last announced its quarterly earnings results on Thursday, May 4th. The financial services provider reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. BGC Partners had a net margin of 4.14% and a return on equity of 32.21%. The company had revenue of $707.40 million for the quarter, compared to analysts’ expectations of $693 million. During the same quarter in the previous year, the business posted $0.18 earnings per share. BGC Partners’s quarterly revenue was up 10.4% on a year-over-year basis. On average, equities analysts expect that BGC Partners will post $1.00 EPS for the current year.

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Large investors have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its stake in shares of BGC Partners by 17.4% in the first quarter. Wells Fargo & Company MN now owns 567,501 shares of the financial services provider’s stock valued at $6,446,000 after buying an additional 84,031 shares in the last quarter. TFS Capital LLC boosted its stake in shares of BGC Partners by 142.9% in the first quarter. TFS Capital LLC now owns 31,119 shares of the financial services provider’s stock valued at $354,000 after buying an additional 18,305 shares in the last quarter. TNB Financial acquired a new stake in shares of BGC Partners during the first quarter valued at $392,000. United Services Automobile Association boosted its stake in shares of BGC Partners by 2.9% in the first quarter. United Services Automobile Association now owns 146,800 shares of the financial services provider’s stock valued at $1,668,000 after buying an additional 4,200 shares in the last quarter. Finally, Jackson Grant Investment Advisers Inc. acquired a new stake in shares of BGC Partners during the fourth quarter valued at $151,000. Institutional investors own 45.83% of the company’s stock.

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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