Halsey Associates Inc. CT Takes Position in BGC Partners, Inc. (BGCP)

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Halsey Associates Inc. CT purchased a new stake in shares of BGC Partners, Inc. (NASDAQ:BGCP) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 44,000 shares of the financial services provider’s stock, valued at approximately $498,000.

Several other large investors have also made changes to their positions in BGCP. Keybank National Association OH bought a new position in BGC Partners in the second quarter valued at about $113,000. Signition LP bought a new position in BGC Partners in the first quarter valued at about $135,000. Comerica Bank bought a new position in BGC Partners in the second quarter valued at about $115,000. Ancora Advisors LLC bought a new position in BGC Partners in the first quarter valued at about $148,000. Finally, CIBC Asset Management Inc bought a new position in BGC Partners in the second quarter valued at about $127,000. 51.57% of the stock is currently owned by hedge funds and other institutional investors.

BGCP stock opened at $11.93 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.14 and a current ratio of 1.16. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 9.94 and a beta of 1.02. BGC Partners, Inc. has a fifty-two week low of $10.39 and a fifty-two week high of $16.97.

BGC Partners (NASDAQ:BGCP) last issued its quarterly earnings results on Thursday, August 2nd. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The business had revenue of $960.08 million during the quarter, compared to analysts’ expectations of $938.00 million. BGC Partners had a return on equity of 46.19% and a net margin of 1.53%. During the same quarter in the prior year, the business posted $0.24 earnings per share. equities analysts predict that BGC Partners, Inc. will post 1.38 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 5th. Shareholders of record on Monday, August 20th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date of this dividend was Friday, August 17th. BGC Partners’s payout ratio is 60.00%.

A number of research analysts have weighed in on BGCP shares. Zacks Investment Research raised BGC Partners from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Tuesday, July 3rd. BidaskClub downgraded BGC Partners from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 10th. Finally, ValuEngine raised BGC Partners from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $13.00.

In related news, Director William J. Moran purchased 10,000 shares of BGC Partners stock in a transaction on Thursday, August 2nd. The stock was acquired at an average price of $11.09 per share, for a total transaction of $110,900.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 32.80% of the company’s stock.

About BGC Partners

BGC Partners, Inc operates as a brokerage company servicing the financial and real estate markets worldwide. It operates in two segments, Financial Services and Real Estate Services. The Financial Services segment provides brokerage services for fixed income, interest rate derivatives, spot foreign exchange, foreign exchange derivatives, government bonds, corporate bonds, credit derivatives, insurance and money market products, energy, metals, equity derivatives, and structured market data products and services.

See Also: Closed-End Mutual Funds (CEFs)

Want to see what other hedge funds are holding BGCP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BGC Partners, Inc. (NASDAQ:BGCP).

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

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