Eagle Asset Management Inc. Has $18,901,000 Stake in BGC Partners Inc. (BGCP)
Eagle Asset Management Inc. reduced its stake in BGC Partners Inc. (NASDAQ:BGCP) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,160,213 shares of the company’s stock after selling 28,407 shares during the period. Eagle Asset Management Inc. owned 0.78% of BGC Partners worth $18,901,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in BGCP. Redwood Investments LLC increased its stake in shares of BGC Partners by 20.0% in the second quarter. Redwood Investments LLC now owns 494,796 shares of the company’s stock valued at $4,310,000 after buying an additional 82,336 shares during the last quarter. Capital Fund Management S.A. bought a new stake in BGC Partners during the second quarter valued at $657,000. Bank of Montreal Can bought a new stake in BGC Partners during the second quarter valued at $427,000. PARK CIRCLE Co bought a new stake in BGC Partners during the second quarter valued at $888,000. Finally, Shikiar Asset Management Inc. increased its stake in BGC Partners by 0.5% in the second quarter. Shikiar Asset Management Inc. now owns 657,850 shares of the company’s stock valued at $5,730,000 after buying an additional 3,350 shares in the last quarter. 39.22% of the stock is owned by institutional investors and hedge funds.
BGC Partners Inc. (NASDAQ:BGCP) traded up 0.10% during mid-day trading on Tuesday, hitting $9.75. 262,413 shares of the stock traded hands. BGC Partners Inc. has a 12 month low of $8.18 and a 12 month high of $10.09. The stock has a market cap of $2.72 billion, a P/E ratio of 17.41 and a beta of 1.35. The stock has a 50-day moving average price of $9.10 and a 200-day moving average price of $8.94.
BGC Partners (NASDAQ:BGCP) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. BGC Partners had a net margin of 5.95% and a return on equity of 24.66%. The company earned $643.50 million during the quarter, compared to analysts’ expectations of $674.05 million. During the same quarter in the prior year, the company earned $0.19 EPS. BGC Partners’s revenue was down 6.1% compared to the same quarter last year. On average, equities analysts forecast that BGC Partners Inc. will post $0.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Wednesday, November 23rd will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, November 21st. This represents a $0.64 annualized dividend and a yield of 6.47%. BGC Partners’s dividend payout ratio is presently 114.29%.
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Separately, Zacks Investment Research raised shares of BGC Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, August 30th.
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. 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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