Formidable Asset Management LLC Lowers Stake in BGC Partners, Inc. (NASDAQ:BGCP)

Formidable Asset Management LLC cut its position in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 13.7% in the third quarter, reports. The institutional investor owned 18,900 shares of the financial services provider’s stock after selling 3,000 shares during the quarter. Formidable Asset Management LLC’s holdings in BGC Partners were worth $98,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of BGCP. Mackenzie Financial Corp purchased a new stake in shares of BGC Partners during the second quarter worth about $65,000. Capula Management Ltd purchased a new stake in shares of BGC Partners during the second quarter worth about $94,000. Pinz Capital Management LP purchased a new stake in shares of BGC Partners during the second quarter worth about $98,000. Xponance Inc. purchased a new stake in shares of BGC Partners during the second quarter worth about $103,000. Finally, Man Group plc acquired a new stake in shares of BGC Partners in the second quarter worth approximately $117,000. Institutional investors and hedge funds own 55.94% of the company’s stock.

Separately, Zacks Investment Research raised shares of BGC Partners from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a research report on Monday, January 10th.

BGCP opened at $4.38 on Friday. The company’s 50 day simple moving average is $4.65 and its 200 day simple moving average is $5.11. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.18 and a current ratio of 1.18. BGC Partners, Inc. has a 1 year low of $3.52 and a 1 year high of $6.51. The stock has a market capitalization of $1.62 billion, a PE ratio of 36.50 and a beta of 1.74.

BGC Partners (NASDAQ:BGCP) last released its earnings results on Tuesday, November 2nd. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.01). The company had revenue of $473.75 million during the quarter, compared to analyst estimates of $490.35 million. BGC Partners had a return on equity of 39.63% and a net margin of 2.34%. During the same period in the prior year, the business posted $0.11 earnings per share. As a group, sell-side analysts expect that BGC Partners, Inc. will post 0.64 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 7th. Shareholders of record on Tuesday, November 23rd were given a dividend of $0.01 per share. The ex-dividend date was Monday, November 22nd. This represents a $0.04 dividend on an annualized basis and a yield of 0.91%. BGC Partners’s dividend payout ratio (DPR) is 33.34%.

BGC Partners Company Profile

BGC Partners, Inc engages in the provision of brokerage services to the financial markets. The firm offers integrated voice, hybrid and fully electronic brokerage in a broad range of products, including fixed income, foreign exchange, equities, insurance, energy and commodities and futures. It also provides trade execution, brokerage, clearing, trade compression, post-trade, information and other back-office services.

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Institutional Ownership by Quarter for BGC Partners (NASDAQ:BGCP)

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