BlueCrest Capital Management Ltd bought a new position in BGC Partners, Inc. (NASDAQ:BGCP) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 372,322 shares of the financial services provider’s stock, valued at approximately $4,706,000. BlueCrest Capital Management Ltd owned about 0.13% of BGC Partners at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in BGC Partners by 1.7% in the second quarter. Vanguard Group Inc. now owns 18,619,070 shares of the financial services provider’s stock worth $235,346,000 after acquiring an additional 308,977 shares in the last quarter. BlackRock Inc. grew its position in BGC Partners by 66,726.9% in the first 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 in the last quarter. Principal Financial Group Inc. grew its position in BGC Partners by 247.8% in the second quarter. Principal Financial Group Inc. now owns 7,921,620 shares of the financial services provider’s stock worth $100,129,000 after acquiring an additional 5,643,875 shares in the last quarter. Dimensional Fund Advisors LP grew its position in BGC Partners by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 6,885,913 shares of the financial services provider’s stock worth $87,037,000 after acquiring an additional 518,058 shares in the last quarter. Finally, State Street Corp boosted its position in shares of BGC Partners by 2.4% during the first quarter. State Street Corp now owns 4,409,057 shares of the financial services provider’s stock valued at $50,085,000 after buying an additional 102,825 shares during the period. 42.26% of the stock is currently owned by hedge funds and other institutional investors.
In other BGC Partners news, Director Linda A. Bell sold 13,650 shares of BGC Partners stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $14.70, for a total value of $200,655.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 37.40% of the stock is owned by company insiders.
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Several brokerages have 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 research report on Wednesday, October 4th. ValuEngine lowered BGC Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, BidaskClub upgraded BGC Partners from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th.
Shares of BGC Partners, Inc. (NASDAQ BGCP) traded down 0.414% during mid-day trading on Tuesday, hitting $16.123. The company had a trading volume of 275,666 shares. The firm has a 50-day moving average price of $14.03 and a 200 day moving average price of $12.55. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 44.294 and a beta of 1.31. BGC Partners, Inc. has a 52-week low of $8.36 and a 52-week high of $16.51.
BGC Partners (NASDAQ:BGCP) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.24 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.24. BGC Partners had a net margin of 4.23% and a return on equity of 35.60%. The company had revenue of $737.80 million during the quarter, compared to analysts’ expectations of $716.00 million. During the same quarter last year, the company posted $0.21 EPS. The firm’s revenue was up 12.8% compared to the same quarter last year. Analysts expect that BGC Partners, Inc. will post $1.07 earnings per share for the current year.
BGC Partners 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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