Wells Fargo & Company MN lowered its stake in BGC Partners, Inc. (NASDAQ:BGCP) by 26.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 415,212 shares of the financial services provider’s stock after selling 152,289 shares during the period. Wells Fargo & Company MN owned approximately 0.15% of BGC Partners worth $5,248,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its holdings in shares of BGC Partners by 2.3% in the second quarter. Teacher Retirement System of Texas now owns 16,668 shares of the financial services provider’s stock valued at $211,000 after purchasing an additional 375 shares during the period. Airain ltd acquired a new position in shares of BGC Partners in the second quarter valued at approximately $1,943,000. Principal Financial Group Inc. increased its holdings in shares of 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. Engineers Gate Manager LP increased its holdings in shares of BGC Partners by 755.1% in the second quarter. Engineers Gate Manager LP now owns 191,541 shares of the financial services provider’s stock valued at $2,421,000 after purchasing an additional 169,142 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of BGC Partners in the first quarter valued at approximately $164,000. 42.26% of the stock is currently owned by institutional investors and hedge funds.

BGC Partners, Inc. (NASDAQ BGCP) opened at 16.40 on Friday. BGC Partners, Inc. has a one year low of $8.36 and a one year high of $16.51. The company’s 50-day moving average price is $13.90 and its 200-day moving average price is $12.49. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 45.05 and a beta of 1.31.

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 consensus estimate of $0.24. The firm had revenue of $737.80 million for the quarter, compared to the consensus estimate of $716.00 million. BGC Partners had a return on equity of 35.60% and a net margin of 4.23%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 EPS. On average, analysts anticipate that BGC Partners, Inc. will post $1.07 EPS for the current year.

In other BGC Partners news, Director Linda A. Bell sold 13,650 shares of BGC Partners stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $14.70, for a total transaction of $200,655.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 37.40% of the stock is owned by insiders.

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A number of research firms have recently issued reports on BGCP. ValuEngine lowered BGC Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research raised BGC Partners from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, BidaskClub raised BGC Partners from a “hold” rating to a “buy” rating in a report on Thursday, August 17th.

BGC Partners 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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Institutional Ownership by Quarter for BGC Partners (NASDAQ:BGCP)

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