Renaissance Technologies LLC Raises Stake in BGC Partners, Inc. (BGCP)
Renaissance Technologies LLC lifted its position in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 67.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,232,548 shares of the financial services provider’s stock after purchasing an additional 899,900 shares during the quarter. Renaissance Technologies LLC owned about 0.78% of BGC Partners worth $28,219,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. Ramsey Quantitative Systems purchased a new stake in shares of BGC Partners during the 2nd quarter worth about $340,000. Parametric Portfolio Associates LLC grew its holdings in shares of BGC Partners by 47.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,142,608 shares of the financial services provider’s stock worth $14,443,000 after purchasing an additional 368,505 shares during the period. Advisor Group Inc. grew its holdings in shares of BGC Partners by 7.6% during the 2nd quarter. Advisor Group Inc. now owns 11,974 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 850 shares during the period. Sawgrass Asset Management LLC purchased a new stake in shares of BGC Partners during the 2nd quarter worth about $227,000. Finally, M&T Bank Corp grew its holdings in shares of BGC Partners by 1.3% during the 2nd quarter. M&T Bank Corp now owns 20,250 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 250 shares during the period. Institutional investors and hedge funds own 42.25% of the company’s stock.
In other BGC Partners news, Director Linda A. Bell sold 13,650 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $14.70, for a total value of $200,655.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 37.40% of the company’s stock.
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Shares of BGC Partners, Inc. (NASDAQ BGCP) opened at 15.94 on Friday. The stock has a market cap of $4.50 billion, a PE ratio of 43.79 and a beta of 1.31. BGC Partners, Inc. has a one year low of $8.36 and a one year high of $16.03. The stock’s 50 day moving average price is $13.50 and its 200-day moving average price is $12.34.
BGC Partners (NASDAQ:BGCP) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. BGC Partners had a return on equity of 35.60% and a net margin of 4.23%. The company had revenue of $737.80 million for the quarter, compared to analyst estimates of $716.00 million. During the same period in the prior year, the firm posted $0.21 EPS. The business’s revenue was up 12.8% compared to the same quarter last year. On average, equities analysts predict that BGC Partners, Inc. will post $1.07 earnings per share for the current fiscal year.
A number of brokerages have recently issued reports on BGCP. Zacks Investment Research upgraded BGC Partners from a “hold” rating to a “strong-buy” rating and set a $18.00 target price for the company in a report on Wednesday. ValuEngine cut BGC Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. Finally, BidaskClub upgraded BGC Partners from a “hold” rating to a “buy” rating in a report on Sunday, July 16th.
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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