Granahan Investment Management Inc. MA cut its stake in BGC Partners, Inc. (NASDAQ:BGCP) by 83.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 147,461 shares of the financial services provider’s stock after selling 739,739 shares during the period. Granahan Investment Management Inc. MA owned about 0.05% of BGC Partners worth $1,675,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in BGCP. Commonwealth Financial Services LLC purchased a new stake in shares of BGC Partners during the first quarter valued at about $118,000. Keybank National Association OH bought a new position in BGC Partners during the fourth quarter valued at approximately $128,000. Regent Investment Management LLC raised its position in shares of BGC Partners by 8.3% in the first quarter. Regent Investment Management LLC now owns 13,000 shares of the financial services provider’s stock worth $148,000 after buying an additional 1,000 shares during the period. Jackson Grant Investment Advisers Inc. acquired a new position in shares of BGC Partners during the fourth quarter worth about $151,000. Finally, Paragon Capital Management Ltd purchased a new position in shares of BGC Partners during the first quarter worth about $171,000. Institutional investors and hedge funds own 45.83% of the company’s stock.
BGC Partners, Inc. (NASDAQ:BGCP) traded up 0.514% during mid-day trading on Wednesday, hitting $12.715. The stock had a trading volume of 77,603 shares. BGC Partners, Inc. has a 1-year low of $8.36 and a 1-year high of $12.87. The company has a 50-day moving average price of $11.95 and a 200 day moving average price of $11.28. The company has a market cap of $3.62 billion, a P/E ratio of 33.638 and a beta of 1.29.
BGC Partners (NASDAQ:BGCP) last released its quarterly earnings data on Thursday, May 4th. The financial services provider reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. BGC Partners had a net margin of 4.14% and a return on equity of 32.21%. The company had revenue of $707.40 million for the quarter, compared to analyst estimates of $693 million. During the same period in the previous year, the business earned $0.18 EPS. BGC Partners’s revenue for the quarter was up 10.4% compared to the same quarter last year. Equities research analysts forecast that BGC Partners, Inc. will post $1.00 EPS for the current fiscal year.
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A number of equities research analysts have recently commented on the company. BidaskClub upgraded BGC Partners from a “hold” rating to a “buy” rating in a research report on Friday, July 7th. Zacks Investment Research upgraded BGC Partners from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Friday, June 30th.
BGC Partners Company 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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