Stoneridge Investment Partners LLC Sells 98,545 Shares of BGC Partners, Inc. (NASDAQ:BGCP)
Stoneridge Investment Partners LLC reduced its position in BGC Partners, Inc. (NASDAQ:BGCP) by 57.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,894 shares of the financial services provider’s stock after selling 98,545 shares during the period. Stoneridge Investment Partners LLC’s holdings in BGC Partners were worth $909,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Eqis Capital Management Inc. purchased a new stake in BGC Partners during the first quarter worth $182,000. Wells Fargo & Company MN increased its stake in 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 worth $6,446,000 after buying an additional 84,031 shares during the last quarter. Paragon Capital Management Ltd purchased a new stake in BGC Partners during the first quarter worth $171,000. Shell Asset Management Co. purchased a new stake in BGC Partners during the first quarter worth $1,116,000. Finally, Commonwealth Financial Services LLC purchased a new stake in BGC Partners during the first quarter worth $118,000. Institutional investors own 45.88% of the company’s stock.
Shares of BGC Partners, Inc. (BGCP) opened at 12.70 on Thursday. The company has a 50-day moving average price of $12.69 and a 200-day moving average price of $11.75. The company has a market cap of $3.63 billion, a P/E ratio of 31.99 and a beta of 1.29. BGC Partners, Inc. has a 52-week low of $8.36 and a 52-week high of $13.44.
BGC Partners (NASDAQ:BGCP) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. BGC Partners had a return on equity of 35.29% and a net margin of 4.23%. The company had revenue of $737.80 million during the quarter, compared to analyst estimates of $716 million. During the same period in the prior year, the company earned $0.21 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. On average, equities analysts predict that BGC Partners, Inc. will post $0.99 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 28th. Investors of record on Monday, August 14th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date of this dividend is Thursday, August 10th. BGC Partners’s payout ratio is presently 180.00%.
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A number of analysts recently weighed in on the company. BidaskClub upgraded BGC Partners from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Zacks Investment Research downgraded BGC Partners from a “buy” rating to a “hold” rating in a research report on Friday, July 28th.
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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