Northpointe Capital LLC Has $12,295,000 Position in BGC Partners Inc. (BGCP)
Northpointe Capital LLC raised its stake in shares of BGC Partners Inc. (NASDAQ:BGCP) by 19.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,411,631 shares of the company’s stock after buying an additional 231,134 shares during the period. BGC Partners makes up approximately 1.5% of Northpointe Capital LLC’s investment portfolio, making the stock its 12th largest position. Northpointe Capital LLC owned 0.51% of BGC Partners worth $12,295,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of BGC Partners by 0.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 68,741 shares of the company’s stock valued at $622,000 after buying an additional 541 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of BGC Partners by 9.8% in the second quarter. Raymond James Trust N.A. now owns 24,565 shares of the company’s stock worth $214,000 after buying an additional 2,192 shares during the period. Shikiar Asset Management Inc. raised its position in shares of BGC Partners by 0.5% in the second quarter. Shikiar Asset Management Inc. now owns 657,850 shares of the company’s stock worth $5,730,000 after buying an additional 3,350 shares during the period. BLB&B Advisors LLC raised its position in shares of BGC Partners by 46.3% in the second quarter. BLB&B Advisors LLC now owns 14,910 shares of the company’s stock worth $130,000 after buying an additional 4,720 shares during the period. Finally, M&T Bank Corp raised its position in shares of BGC Partners by 18.0% in the first quarter. M&T Bank Corp now owns 31,426 shares of the company’s stock worth $284,000 after buying an additional 4,803 shares during the period. Hedge funds and other institutional investors own 38.79% of the company’s stock.
Shares of BGC Partners Inc. (NASDAQ:BGCP) traded down 0.80% during trading on Monday, reaching $8.68. The company had a trading volume of 1,038,067 shares. BGC Partners Inc. has a 1-year low of $8.12 and a 1-year high of $9.90. The firm has a 50-day moving average of $8.86 and a 200 day moving average of $8.96. The firm has a market capitalization of $2.40 billion, a PE ratio of 17.97 and a beta of 1.33.
BGC Partners (NASDAQ:BGCP) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. BGC Partners had a return on equity of 24.31% and a net margin of 5.01%. The business had revenue of $652 million for the quarter, compared to analyst estimates of $665.70 million. During the same quarter in the prior year, the company earned $0.18 earnings per share. The company’s revenue was down 2.5% on a year-over-year basis. Analysts expect that BGC Partners Inc. will post $0.84 earnings per share for the current year.
Separately, Zacks Investment Research upgraded BGC Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, August 30th.
About BGC Partners
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. The Company provides a range of services, including trade execution, broker-dealer services, clearing, processing, information, and other back-office services to a range of financial and non-financial institutions.
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