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Shares of BGC Partners, Inc. (NASDAQ:BGCP) have received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One badyst has rated the stock with a strong buy rating.
Brokers have set a one year consensus target price of $17.00 for the company and are expecting that the company will post $0.45 EPS for the current quarter, according to Zacks. Zacks has also given BGC Partners an industry rank of 67 out of 255 based on the ratings given to related companies.
A number of research firms have recently commented on BGCP. Zacks Investment Research raised shares of BGC Partners from a “sell” rating to a “hold” rating in a research note on Monday, June 25th. ValuEngine downgraded shares of BGC Partners from a “sell” rating to a “strong sell” rating in a research note on Monday, July 2nd. Finally, BidaskClub downgraded shares of BGC Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 10th.
Shares of NASDAQ BGCP traded down $0.08 on Tuesday, reaching $10.57. 1,668,271 shares of the company traded hands, compared to its average volume of 2,192,429. BGC Partners has a fifty-two week low of $10.27 and a fifty-two week high of $16.97. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.16 and a quick ratio of 1.14. The company has a market cap of $3.55 billion, a P/E ratio of 8.81 and a beta of 1.04.
BGC Partners (NASDAQ:BGCP) last posted its quarterly earnings data on Thursday, August 2nd. The financial services provider reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.02. BGC Partners had a net margin of 1.53% and a return on equity of 46.19%. The company had revenue of $960.08 million during the quarter, compared to the consensus estimate of $938.00 million. During the same quarter in the prior year, the company posted $0.24 EPS. As a group, equities research badysts anticipate that BGC Partners will post 1.38 EPS for the current year.
In other BGC Partners news, Director William J. Moran bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 2nd. The stock was purchased at an average price of $11.09 per share, with a total value of $110,900.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 32.80% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position in BGC Partners by 6.4% during the 2nd quarter. BlackRock Inc. now owns 12,366,022 shares of the financial services provider’s stock worth $139,983,000 after purchasing an additional 740,051 shares in the last quarter. Principal Financial Group Inc. increased its position in BGC Partners by 19.4% during the 1st quarter. Principal Financial Group Inc. now owns 10,797,309 shares of the financial services provider’s stock worth $145,224,000 after purchasing an additional 1,755,694 shares in the last quarter. Renaissance Technologies LLC increased its position in BGC Partners by 15.0% during the 2nd quarter. Renaissance Technologies LLC now owns 6,754,148 shares of the financial services provider’s stock worth $76,457,000 after purchasing an additional 882,400 shares in the last quarter. Millennium Management LLC increased its position in BGC Partners by 65.8% during the 1st quarter. Millennium Management LLC now owns 6,079,016 shares of the financial services provider’s stock worth $81,763,000 after purchasing an additional 2,413,030 shares in the last quarter. Finally, Raymond James & Associates increased its position in BGC Partners by 149.8% during the 2nd quarter. Raymond James & Associates now owns 5,583,444 shares of the financial services provider’s stock worth $63,205,000 after purchasing an additional 3,348,709 shares in the last quarter. 51.60% of the stock is owned by hedge funds and other institutional investors.
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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