BGC Partners (NASDAQ:BGCP) Stock Rating Lowered by Zacks Investment Research


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BGC Partners (NASDAQ:BGCP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday, Zacks.com reports.

According to Zacks, “BGC PARTNERS, INC. is a leading global full-service inter-dealer broker, specializing in the trading of financial instruments and related derivatives products. BGC Partners provides integrated voice, hybrid, and fully electronic execution and other brokerage services to some of the world’s largest and most credit worthy banks, broker-dealers, investment banks and investment firms for a broad range of global financial products, including fixed income securities, foreign exchange, equity derivatives, credit derivatives, futures, structured products and other instruments. Through its eSpeed and BGCantor Market Data brands, BGC also offers financial technology solutions and market data and analytics related to selected financial instruments and markets. Named after fixed income trading innovator B. Gerald Cantor, BGC Partners has offices in New York and London, as well as in Beijing, Chicago, Copenhagen, Hong Kong, Istanbul, Mexico City, Nyon, Paris, Seoul, Singapore, Sydney, Tokyo and Toronto. “

Separately, TheStreet upgraded shares of BGC Partners from a “c” rating to a “b-” rating in a research report on Thursday, April 29th.

BGCP stock opened at $5.40 on Monday. The firm has a market cap of $2.00 billion, a PE ratio of 49.10 and a beta of 1.76. The firm’s fifty day moving average is $5.19 and its 200 day moving average is $4.25. BGC Partners has a one year low of $2.22 and a one year high of $5.98.

BGC Partners (NASDAQ:BGCP) last released its quarterly earnings results on Wednesday, April 28th. The financial services provider reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.01). BGC Partners had a net margin of 2.21% and a return on equity of 40.10%. During the same quarter last year, the business posted $0.19 EPS. Research analysts predict that BGC Partners will post 0.56 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors grew its position in shares of BGC Partners by 192.3% in the fourth quarter. Captrust Financial Advisors now owns 6,541 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 4,303 shares during the period. US Bancorp DE grew its position in shares of BGC Partners by 958.3% in the fourth quarter. US Bancorp DE now owns 7,038 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 6,373 shares during the period. Ground Swell Capital LLC acquired a new stake in shares of BGC Partners in the first quarter valued at about $53,000. Blair William & Co. IL purchased a new position in shares of BGC Partners in the fourth quarter worth about $48,000. Finally, GWM Advisors LLC purchased a new position in shares of BGC Partners in the first quarter worth about $60,000. Institutional investors and hedge funds own 45.67% of the company’s stock.

BGC Partners Company Profile

BGC Partners, Inc operates as a brokerage and financial technology company in the United States, Canada, Europe, the United Kingdom, Latin America, Asia, Africa, the Middle East, and internationally. It offers various brokerage products, such as fixed income, such as government bonds, corporate bonds, and other debt instruments, as well as related interest rate derivatives and credit derivatives; and fixed income, equity derivatives and cash equities, energy and commodities, shipping, insurance, and futures and options.

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