BGC Partners, Inc. (NASDAQ:BGCP) saw a significant increase in short interest in August. As of August 31st, there was short interest totalling 6,371,924 shares, an increase of 45.1% from the August 15th total of 4,392,642 shares. Currently, 2.8% of the company’s stock are short sold. Based on an average trading volume of 2,108,327 shares, the short-interest ratio is presently 3.0 days.
Several equities research analysts have recently commented on the stock. BidaskClub upgraded shares of BGC Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. Zacks Investment Research upgraded shares of BGC Partners from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Tuesday, July 3rd. Finally, ValuEngine downgraded shares of BGC Partners from a “sell” rating to a “strong sell” rating in a research note on Monday, July 2nd. Three equities research analysts have rated the stock with a sell rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $13.00.
Shares of NASDAQ:BGCP traded down $0.12 on Tuesday, hitting $11.42. 1,524,900 shares of the company were exchanged, compared to its average volume of 2,221,035. BGC Partners has a 1-year low of $10.39 and a 1-year high of $16.97. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $3.86 billion, a P/E ratio of 9.49 and a beta of 1.04.
BGC Partners (NASDAQ:BGCP) last posted its quarterly earnings data on Thursday, August 2nd. The financial services provider reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.02. BGC Partners had a net margin of 1.53% and a return on equity of 46.19%. The business had revenue of $960.08 million during the quarter, compared to the consensus estimate of $938.00 million. During the same period in the previous year, the firm posted $0.24 earnings per share. Equities analysts forecast that BGC Partners will post 1.38 EPS for the current year.
In other news, Director William J. Moran bought 10,000 shares of the stock in a transaction on Thursday, August 2nd. The stock was bought at an average cost of $11.09 per share, for a total transaction of $110,900.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 32.80% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of BGCP. Rhumbline Advisers raised its holdings in shares of BGC Partners by 2.0% during the first quarter. Rhumbline Advisers now owns 219,809 shares of the financial services provider’s stock worth $2,956,000 after purchasing an additional 4,226 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of BGC Partners during the first quarter worth $204,000. Prudential Financial Inc. raised its holdings in shares of BGC Partners by 37.6% during the first quarter. Prudential Financial Inc. now owns 656,327 shares of the financial services provider’s stock worth $8,828,000 after purchasing an additional 179,441 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of BGC Partners by 17.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 120,093 shares of the financial services provider’s stock worth $1,615,000 after purchasing an additional 17,530 shares during the last quarter. Finally, Swiss National Bank increased its holdings in BGC Partners by 2.3% in the first quarter. Swiss National Bank now owns 372,608 shares of the financial services provider’s stock valued at $5,012,000 after buying an additional 8,500 shares in the last quarter. 51.55% of the stock is owned by hedge funds and other institutional investors.
BGC Partners Company Profile
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.
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