BGC Partners, Inc. (BGCP) Upgraded to “Buy” by BidaskClub
BidaskClub upgraded shares of BGC Partners, Inc. (NASDAQ:BGCP) from a hold rating to a buy rating in a research note released on Sunday morning.
Separately, Zacks Investment Research raised shares of BGC Partners from a hold rating to a buy rating and set a $14.00 price target for the company in a research note on Friday, June 30th.
BGC Partners (BGCP) traded up 0.08% during trading on Friday, hitting $12.94. 921,183 shares of the stock traded hands. The stock has a market cap of $3.69 billion, a PE ratio of 34.23 and a beta of 1.29. The company has a 50-day moving average price of $11.95 and a 200-day moving average price of $11.28. BGC Partners has a 12 month low of $8.36 and a 12 month high of $13.02.
BGC Partners (NASDAQ:BGCP) last released its quarterly earnings results on Thursday, May 4th. The financial services provider reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. BGC Partners had a net margin of 4.14% and a return on equity of 32.21%. The business had revenue of $707.40 million during the quarter, compared to analysts’ expectations of $693 million. During the same quarter in the previous year, the company earned $0.18 EPS. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. Equities research analysts expect that BGC Partners will post $1.00 EPS for the current year.
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Several large investors have recently made changes to their positions in BGCP. Commonwealth Financial Services LLC acquired a new stake in shares of BGC Partners during the first quarter worth about $118,000. Regent Investment Management LLC boosted its stake 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 worth $148,000 after buying an additional 1,000 shares during the period. Jackson Grant Investment Advisers Inc. acquired a new stake in shares of BGC Partners during the fourth quarter worth about $151,000. Meeder Asset Management Inc. boosted its stake 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 worth $158,000 after buying an additional 12,434 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of BGC Partners during the first quarter worth about $164,000. 45.83% of the stock is owned by institutional investors.
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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