Stock Traders Buy Large Volume of Call Options on BGC Partners (BGCP)
BGC Partners (NASDAQ:BGCP) was the recipient of some unusual options trading on Tuesday. Investors purchased 8,710 call options on the stock. This represents an increase of 5,310% compared to the typical volume of 161 call options.
BGCP has been the subject of several recent research reports. TheStreet upgraded BGC Partners from a “c+” rating to a “b” rating in a report on Thursday, May 3rd. BGC Financial upgraded BGC Partners from a “hold” rating to a “buy” rating in a report on Tuesday, February 13th. BidaskClub upgraded BGC Partners from a “sell” rating to a “hold” rating in a research note on Saturday, March 10th. Zacks Investment Research downgraded BGC Partners from a “buy” rating to a “hold” rating in a research note on Monday, April 16th. Finally, ValuEngine downgraded BGC Partners from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $18.00.
BGCP opened at $12.16 on Thursday. The company has a market cap of $3.71 billion, a PE ratio of 10.13 and a beta of 1.07. The company has a current ratio of 1.14, a quick ratio of 1.12 and a debt-to-equity ratio of 0.99. BGC Partners has a twelve month low of $12.04 and a twelve month high of $12.14.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 5th. Investors of record on Monday, May 21st will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, May 18th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.92%. BGC Partners’s dividend payout ratio is presently 60.00%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assetmark Inc. increased its stake in shares of BGC Partners by 270.2% during the fourth quarter. Assetmark Inc. now owns 6,912 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 5,045 shares during the period. Signition LP acquired a new position in shares of BGC Partners during the first quarter valued at approximately $135,000. Ancora Advisors LLC acquired a new position in shares of BGC Partners during the first quarter valued at approximately $148,000. Cornerstone Wealth Management LLC acquired a new position in shares of BGC Partners during the fourth quarter valued at approximately $153,000. Finally, Elkfork Partners LLC increased its stake in shares of BGC Partners by 644.1% during the fourth quarter. Elkfork Partners LLC now owns 11,296 shares of the financial services provider’s stock valued at $171,000 after acquiring an additional 9,778 shares during the period. Institutional investors and hedge funds own 45.12% of the company’s stock.
About BGC Partners
BGC Partners, Inc operates as a brokerage company servicing the financial and real estate markets worldwide. It operates in two segments, Financial Services and Real Estate Services. The Financial Services segment provides brokerage services for fixed income, interest rate derivatives, spot foreign exchange, foreign exchange derivatives, government bonds, corporate bonds, credit derivatives, insurance and money market products, energy, metals, equity derivatives, and structured market data products and services.
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