BGC Partners, Inc. (BGCP) Stake Cut by TNB Financial
TNB Financial lowered its position in BGC Partners, Inc. (NASDAQ:BGCP) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,121 shares of the financial services provider’s stock after selling 1,379 shares during the period. TNB Financial’s holdings in BGC Partners were worth $419,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its position in shares of BGC Partners by 66,726.9% in the first quarter. BlackRock Inc. now owns 14,384,491 shares of the financial services provider’s stock worth $163,409,000 after buying an additional 14,362,966 shares during the period. Norges Bank purchased a new position in BGC Partners during the fourth quarter valued at approximately $18,279,000. Vanguard Group Inc. increased its position in BGC Partners by 7.1% in the first quarter. Vanguard Group Inc. now owns 18,310,093 shares of the financial services provider’s stock valued at $208,003,000 after buying an additional 1,214,964 shares during the last quarter. Renaissance Technologies LLC increased its position in BGC Partners by 160.1% in the first quarter. Renaissance Technologies LLC now owns 1,332,648 shares of the financial services provider’s stock valued at $15,139,000 after buying an additional 820,200 shares during the last quarter. Finally, Edge Asset Management Inc. increased its position in BGC Partners by 19.5% in the first quarter. Edge Asset Management Inc. now owns 4,260,061 shares of the financial services provider’s stock valued at $48,394,000 after buying an additional 694,519 shares during the last quarter. 45.93% of the stock is currently owned by hedge funds and other institutional investors.
BGC Partners, Inc. (BGCP) traded up 0.85% during trading on Monday, hitting $13.05. The stock had a trading volume of 1,370,206 shares. BGC Partners, Inc. has a 1-year low of $8.36 and a 1-year high of $13.06. The firm has a 50 day moving average price of $11.95 and a 200-day moving average price of $11.28. The firm has a market capitalization of $3.72 billion, a PE ratio of 34.52 and a beta of 1.29.
BGC Partners (NASDAQ:BGCP) last issued its quarterly earnings results on Thursday, May 4th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $707.40 million during the quarter, compared to analyst estimates of $693 million. During the same quarter last year, the business posted $0.18 EPS. BGC Partners’s quarterly revenue was up 10.4% compared to the same quarter last year. On average, equities research analysts expect that BGC Partners, Inc. will post $1.00 EPS for the current year.
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BGCP has been the topic of several research reports. Zacks Investment Research raised BGC Partners from a “hold” rating to a “strong-buy” rating and set a $13.00 target price on the stock in a research report on Monday, April 3rd. BidaskClub raised BGC Partners from a “hold” rating to a “buy” rating in a research report on Sunday.
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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