Northpointe Capital LLC Has $5.62 Million Stake in BGC Partners, Inc. (BGCP)
Northpointe Capital LLC cut its stake in BGC Partners, Inc. (NASDAQ:BGCP) by 4.0% during the second quarter, Holdings Channel reports. The institutional investor owned 444,967 shares of the financial services provider’s stock after selling 18,668 shares during the period. Northpointe Capital LLC’s holdings in BGC Partners were worth $5,624,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the company. Sei Investments Co. raised its stake in BGC Partners by 47.8% in the second quarter. Sei Investments Co. now owns 8,312 shares of the financial services provider’s stock valued at $105,000 after buying an additional 2,689 shares in the last quarter. Commonwealth Financial Services LLC purchased a new stake in BGC Partners during the first quarter valued at about $118,000. Meeder Asset Management Inc. raised its stake in 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 valued at $158,000 after buying an additional 12,434 shares in the last quarter. Regent Investment Management LLC raised its stake in 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 in the last quarter. Finally, Jane Street Group LLC purchased a new stake in BGC Partners during the first quarter valued at about $164,000. 48.41% of the stock is owned by institutional investors.
Shares of BGC Partners, Inc. (NASDAQ:BGCP) opened at 12.75 on Wednesday. The firm’s 50-day moving average is $12.76 and its 200-day moving average is $11.80. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 32.12 and a beta of 1.29. BGC Partners, Inc. has a one year low of $8.36 and a one year high of $13.44.
BGC Partners (NASDAQ:BGCP) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $0.24 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.24. The business had revenue of $737.80 million during the quarter, compared to the consensus estimate of $716 million. BGC Partners had a return on equity of 35.60% and a net margin of 4.23%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 EPS. Equities research analysts forecast that BGC Partners, Inc. will post $0.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 28th. Stockholders of record on Monday, August 14th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 5.65%. The ex-dividend date of this dividend is Thursday, August 10th. BGC Partners’s payout ratio is 180.00%.
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Several equities research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of BGC Partners from a “buy” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub lowered shares of BGC Partners from a “buy” rating to a “hold” rating in a report on Friday, July 28th.
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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