Trexquant Investment LP Raises Position in BGC Partners, Inc. (NASDAQ:BGCP)
Trexquant Investment LP boosted its stake in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 38.2% during the second quarter, Holdings Channel reports. The firm owned 46,560 shares of the financial services provider’s stock after buying an additional 12,880 shares during the period. Trexquant Investment LP’s holdings in BGC Partners were worth $589,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Sei Investments Co. raised its position in shares of BGC Partners by 47.8% in the second quarter. Sei Investments Co. now owns 8,312 shares of the financial services provider’s stock valued at $105,000 after buying an additional 2,689 shares during the period. Commonwealth Financial Services LLC purchased a new position in shares of BGC Partners during the first quarter valued at $118,000. Regent Investment Management LLC raised its position in shares of BGC Partners by 8.3% in the first quarter. Regent Investment Management LLC now owns 13,000 shares of the financial services provider’s stock valued at $148,000 after buying an additional 1,000 shares during the period. Meeder Asset Management Inc. raised its position in shares of BGC Partners by 31,085.0% in the second quarter. Meeder Asset Management Inc. now owns 12,474 shares of the financial services provider’s stock valued at $158,000 after buying an additional 12,434 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of BGC Partners during the first quarter valued at $164,000. 45.88% of the stock is owned by institutional investors and hedge funds.
BGC Partners, Inc. (BGCP) opened at 12.47 on Friday. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 31.41 and a beta of 1.29. The firm’s 50-day moving average price is $12.72 and its 200 day moving average price is $11.77. BGC Partners, Inc. has a one year low of $8.36 and a one year high of $13.44.
BGC Partners (NASDAQ:BGCP) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $0.24 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.24. The company had revenue of $737.80 million during the quarter, compared to the consensus estimate of $716 million. BGC Partners had a net margin of 4.23% and a return on equity of 35.60%. BGC Partners’s revenue was up 12.8% compared to the same quarter last year. During the same period last year, the firm earned $0.21 earnings per share. On average, equities research analysts expect that BGC Partners, Inc. will post $0.99 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 28th. Shareholders of record on Monday, August 14th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $0.72 annualized dividend and a yield of 5.77%. BGC Partners’s dividend payout ratio (DPR) is 180.00%.
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Several equities analysts have weighed in on the company. Zacks Investment Research raised BGC Partners from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Friday, June 30th. BidaskClub lowered BGC Partners from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd.
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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