Parametric Portfolio Associates LLC Buys 368,505 Shares of BGC Partners, Inc. (BGCP)
Parametric Portfolio Associates LLC boosted its stake in BGC Partners, Inc. (NASDAQ:BGCP) by 47.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,142,608 shares of the financial services provider’s stock after purchasing an additional 368,505 shares during the period. Parametric Portfolio Associates LLC owned about 0.40% of BGC Partners worth $14,443,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in BGC Partners by 1.7% in the second quarter. Vanguard Group Inc. now owns 18,619,070 shares of the financial services provider’s stock valued at $235,346,000 after purchasing an additional 308,977 shares during the period. BlackRock Inc. increased its holdings in BGC Partners by 66,726.9% in the first quarter. BlackRock Inc. now owns 14,384,491 shares of the financial services provider’s stock valued at $163,409,000 after purchasing an additional 14,362,966 shares during the period. Principal Financial Group Inc. increased its holdings in BGC Partners by 247.8% in the second quarter. Principal Financial Group Inc. now owns 7,921,620 shares of the financial services provider’s stock valued at $100,129,000 after purchasing an additional 5,643,875 shares during the period. Dimensional Fund Advisors LP increased its holdings in BGC Partners by 11.2% in the first quarter. Dimensional Fund Advisors LP now owns 6,367,855 shares of the financial services provider’s stock valued at $72,338,000 after purchasing an additional 643,716 shares during the period. Finally, State Street Corp increased its holdings in BGC Partners by 2.4% in the first quarter. State Street Corp now owns 4,409,057 shares of the financial services provider’s stock valued at $50,085,000 after purchasing an additional 102,825 shares during the period. Institutional investors and hedge funds own 42.25% of the company’s stock.
Shares of BGC Partners, Inc. (NASDAQ BGCP) opened at 15.94 on Friday. The firm has a market capitalization of $4.50 billion, a P/E ratio of 43.79 and a beta of 1.31. BGC Partners, Inc. has a 12-month low of $8.36 and a 12-month high of $16.03. The company has a 50-day moving average price of $13.50 and a 200-day moving average price of $12.34.
BGC Partners (NASDAQ:BGCP) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. BGC Partners had a net margin of 4.23% and a return on equity of 35.60%. The business had revenue of $737.80 million during the quarter, compared to the consensus estimate of $716.00 million. During the same period in the previous year, the firm posted $0.21 earnings per share. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities analysts predict that BGC Partners, Inc. will post $1.07 EPS for the current year.
A number of research firms recently weighed in on BGCP. Zacks Investment Research upgraded BGC Partners from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective for the company in a report on Wednesday. ValuEngine downgraded BGC Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. Finally, BidaskClub upgraded BGC Partners from a “hold” rating to a “buy” rating in a report on Thursday, August 17th.
In other BGC Partners news, Director Linda A. Bell sold 13,650 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $14.70, for a total value of $200,655.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 37.40% of the stock is currently owned by insiders.
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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