BGC Partners, Inc. (NASDAQ:BGCP) Stake Raised by Geode Capital Management LLC
Geode Capital Management LLC boosted its stake in BGC Partners, Inc. (NASDAQ:BGCP) by 4.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,759,454 shares of the financial services provider’s stock after buying an additional 76,056 shares during the period. Geode Capital Management LLC owned about 0.62% of BGC Partners worth $19,987,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Financial Services LLC bought a new stake in shares of BGC Partners during the first quarter valued at approximately $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 valued at $148,000 after buying an additional 1,000 shares during the last quarter. Jackson Grant Investment Advisers Inc. bought a new stake in shares of BGC Partners during the fourth quarter valued at approximately $151,000. Paragon Capital Management Ltd bought a new stake in shares of BGC Partners during the first quarter valued at approximately $171,000. Finally, Creative Planning boosted its stake in shares of BGC Partners by 2.8% in the first quarter. Creative Planning now owns 15,560 shares of the financial services provider’s stock valued at $177,000 after buying an additional 421 shares during the last quarter. Institutional investors own 45.88% of the company’s stock.
Shares of BGC Partners, Inc. (NASDAQ BGCP) traded down 0.70% during trading on Tuesday, reaching $12.76. The company’s stock had a trading volume of 947,679 shares. The stock’s 50 day moving average price is $12.65 and its 200-day moving average price is $11.70. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 32.14 and a beta of 1.29. BGC Partners, Inc. has a 52-week low of $8.36 and a 52-week high of $13.44.
BGC Partners (NASDAQ:BGCP) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.24 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.24. The firm had revenue of $737.80 million for the quarter, compared to analyst estimates of $716 million. BGC Partners had a return on equity of 35.29% and a net margin of 4.23%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $0.21 EPS. Equities analysts anticipate that BGC Partners, Inc. will post $0.99 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 28th. Stockholders of record on Monday, August 14th will be given a $0.18 dividend. The ex-dividend date is Thursday, August 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.64%. BGC Partners’s dividend payout ratio is currently 180.00%.
Several analysts recently commented on BGCP shares. Zacks Investment Research upgraded BGC Partners from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Friday, June 30th. BidaskClub upgraded BGC Partners from a “hold” rating to a “buy” rating in a report on Friday, July 7th.
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. 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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