BGC Partners, Inc. (BGCP) Downgraded to “Buy” at ValuEngine
ValuEngine lowered shares of BGC Partners, Inc. (NASDAQ:BGCP) from a strong-buy rating to a buy rating in a research report report published on Monday.
Several other analysts have also recently commented on the company. Zacks Investment Research cut BGC Partners from a buy rating to a hold rating in a research report on Friday, July 28th. BidaskClub raised BGC Partners from a hold rating to a buy rating in a research report on Sunday, July 16th.
BGC Partners (NASDAQ BGCP) opened at 14.81 on Monday. BGC Partners has a 12-month low of $8.36 and a 12-month high of $14.85. The stock has a market capitalization of $4.18 billion, a price-to-earnings ratio of 40.69 and a beta of 1.31. The company has a 50 day moving average of $13.17 and a 200-day moving average of $12.23.
BGC Partners (NASDAQ:BGCP) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. BGC Partners had a net margin of 4.23% and a return on equity of 35.60%. The company had revenue of $737.80 million for the quarter, compared to the consensus estimate of $716.00 million. During the same period in the previous year, the business earned $0.21 EPS. The company’s revenue was up 12.8% on a year-over-year basis. On average, equities research analysts forecast that BGC Partners will post $0.99 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of BGC Partners by 66,726.9% during the first quarter. BlackRock Inc. now owns 14,384,491 shares of the financial services provider’s stock worth $163,409,000 after purchasing an additional 14,362,966 shares during the period. Principal Financial Group Inc. grew its position in BGC Partners by 247.8% during the second quarter. Principal Financial Group Inc. now owns 7,921,620 shares of the financial services provider’s stock valued at $100,129,000 after purchasing an additional 5,643,875 shares in the last quarter. Prudential Financial Inc. grew its position in BGC Partners by 2,838.5% during the second quarter. Prudential Financial Inc. now owns 1,743,966 shares of the financial services provider’s stock valued at $22,043,000 after purchasing an additional 1,684,617 shares in the last quarter. Vanguard Group Inc. grew its position in BGC Partners by 7.1% during 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 purchasing an additional 1,214,964 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in BGC Partners by 136.8% during the second quarter. Goldman Sachs Group Inc. now owns 1,560,790 shares of the financial services provider’s stock valued at $19,728,000 after purchasing an additional 901,592 shares in the last quarter. 42.25% of the stock is owned by institutional investors and hedge funds.
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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