BGC Partners (NASDAQ:BGCP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “BGC PARTNERS, INC. is a leading global full-service inter-dealer broker, specializing in the trading of financial instruments and related derivatives products. BGC Partners provides integrated voice, hybrid, and fully electronic execution and other brokerage services to some of the world’s largest and most credit worthy banks, broker-dealers, investment banks and investment firms for a broad range of global financial products, including fixed income securities, foreign exchange, equity derivatives, credit derivatives, futures, structured products and other instruments. Through its eSpeed and BGCantor Market Data brands, BGC also offers financial technology solutions and market data and analytics related to selected financial instruments and markets. Named after fixed income trading innovator B. Gerald Cantor, BGC Partners has offices in New York and London, as well as in Beijing, Chicago, Copenhagen, Hong Kong, Istanbul, Mexico City, Nyon, Paris, Seoul, Singapore, Sydney, Tokyo and Toronto. “

Separately, BidaskClub raised BGC Partners from a “hold” rating to a “buy” rating in a research report on Saturday, July 6th. Two investment analysts have rated the stock with a sell rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. BGC Partners has a consensus rating of “Hold” and a consensus price target of $11.00.

Shares of BGC Partners stock traded up $0.17 during trading on Tuesday, reaching $5.61. 2,853,899 shares of the stock were exchanged, compared to its average volume of 2,073,255. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 7.79 and a beta of 1.43. BGC Partners has a 1 year low of $4.46 and a 1 year high of $12.14. The stock’s fifty day moving average is $5.18 and its 200 day moving average is $5.33. The company has a quick ratio of 1.09, a current ratio of 1.11 and a debt-to-equity ratio of 1.25.

BGC Partners (NASDAQ:BGCP) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). BGC Partners had a net margin of 6.98% and a return on equity of 38.17%. The business had revenue of $551.20 million for the quarter, compared to the consensus estimate of $546.65 million. During the same quarter last year, the firm posted $0.30 EPS. The business’s quarterly revenue was up 12.3% on a year-over-year basis. Equities analysts forecast that BGC Partners will post 0.63 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its holdings in shares of BGC Partners by 15.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 14,604 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 1,961 shares during the period. Enterprise Financial Services Corp boosted its position in shares of BGC Partners by 21.4% during the second quarter. Enterprise Financial Services Corp now owns 11,195 shares of the financial services provider’s stock worth $59,000 after buying an additional 1,973 shares during the period. Creative Planning grew its holdings in BGC Partners by 9.0% in the 1st quarter. Creative Planning now owns 25,809 shares of the financial services provider’s stock worth $137,000 after buying an additional 2,135 shares in the last quarter. United Services Automobile Association grew its holdings in BGC Partners by 0.4% in the 2nd quarter. United Services Automobile Association now owns 535,331 shares of the financial services provider’s stock worth $2,800,000 after buying an additional 2,350 shares in the last quarter. Finally, Boston Partners increased its position in BGC Partners by 1.3% in the 1st quarter. Boston Partners now owns 283,685 shares of the financial services provider’s stock valued at $1,506,000 after acquiring an additional 3,674 shares during the period. Institutional investors and hedge funds own 52.61% of the company’s stock.

BGC Partners Company Profile

BGC Partners, Inc operates as a brokerage and financial technology company worldwide. It offers various brokerage products, such as fixed income, foreign exchange, equities, energy and commodities, insurance, and futures. The company also provides other services that include trade execution, broker dealer, clearing, trade compression, post-trade, information, and other back office services to financial and non-financial institutions.

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