BGC Partners, Inc. (BGCP) Short Interest Down 52.4% in October
BGC Partners, Inc. (NASDAQ:BGCP) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,227,903 shares, a decrease of 52.4% from the October 13th total of 2,581,720 shares. Based on an average trading volume of 1,998,812 shares, the short-interest ratio is currently 0.6 days. Currently, 0.6% of the shares of the stock are sold short.
A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of BGC Partners from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research note on Wednesday, October 4th. ValuEngine cut shares of BGC Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, BidaskClub raised shares of BGC Partners from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th.
In related news, Director Linda A. Bell sold 13,650 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $14.70, for a total transaction of $200,655.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 37.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BGCP. Prudential Financial Inc. raised its stake in BGC Partners by 136.8% during the 1st quarter. Prudential Financial Inc. now owns 59,349 shares of the financial services provider’s stock worth $674,000 after acquiring an additional 34,290 shares during the period. Wellington Management Group LLP raised its stake in BGC Partners by 8.2% during the 1st quarter. Wellington Management Group LLP now owns 29,972 shares of the financial services provider’s stock worth $340,000 after acquiring an additional 2,272 shares during the period. FMR LLC raised its stake in BGC Partners by 152.4% during the 1st quarter. FMR LLC now owns 871,600 shares of the financial services provider’s stock worth $9,901,000 after acquiring an additional 526,300 shares during the period. Teachers Advisors LLC raised its stake in BGC Partners by 7.0% during the 1st quarter. Teachers Advisors LLC now owns 380,421 shares of the financial services provider’s stock worth $4,322,000 after acquiring an additional 24,737 shares during the period. Finally, BlackRock Inc. raised its stake in BGC Partners by 66,726.9% during the 1st quarter. BlackRock Inc. now owns 14,384,491 shares of the financial services provider’s stock worth $163,409,000 after acquiring an additional 14,362,966 shares during the period. Institutional investors own 42.72% of the company’s stock.
Shares of BGC Partners (NASDAQ BGCP) opened at $15.06 on Monday. BGC Partners has a 1 year low of $9.21 and a 1 year high of $16.51. The company has a market cap of $4,312.69, a PE ratio of 14.91 and a beta of 1.29. The company has a debt-to-equity ratio of 2.97, a quick ratio of 1.13 and a current ratio of 1.32.
BGC Partners (NASDAQ:BGCP) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.29 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.29. The company had revenue of $827.03 million for the quarter. BGC Partners had a net margin of 4.67% and a return on equity of 42.02%.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Tuesday, November 14th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Monday, November 13th. BGC Partners’s payout ratio is 153.19%.
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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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