FMR LLC increased its stake in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 152.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 871,600 shares of the financial services provider’s stock after buying an additional 526,300 shares during the period. FMR LLC owned approximately 0.31% of BGC Partners worth $9,901,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in BGCP. Commonwealth Financial Services LLC acquired a new stake in shares of BGC Partners during the first quarter worth approximately $118,000. Regent Investment Management LLC boosted its stake 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 last quarter. Jackson Grant Investment Advisers Inc. acquired a new stake in shares of BGC Partners during the fourth quarter worth approximately $151,000. Paragon Capital Management Ltd acquired a new stake in shares of BGC Partners during the first quarter worth approximately $171,000. Finally, Creative Planning boosted its stake in shares of BGC Partners by 2.8% in the first quarter. Creative Planning now owns 15,560 shares of the financial services provider’s stock worth $177,000 after buying an additional 421 shares during the last quarter. 45.88% of the stock is owned by institutional investors and hedge funds.
BGC Partners, Inc. (BGCP) opened at 12.47 on Friday. BGC Partners, Inc. has a one year low of $8.36 and a one year high of $13.44. The firm has a 50-day moving average of $12.72 and a 200-day moving average of $11.77. The stock has a market capitalization of $3.57 billion, a PE ratio of 31.41 and a beta of 1.29.
BGC Partners (NASDAQ:BGCP) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $716 million. During the same period in the previous year, the firm earned $0.21 EPS. BGC Partners’s revenue was up 12.8% on a year-over-year basis. On average, equities research analysts forecast that BGC Partners, Inc. will post $0.99 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 28th. Shareholders of record on Monday, August 14th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, August 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.77%. BGC Partners’s dividend payout ratio (DPR) is 180.00%.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of BGC Partners from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Friday, June 30th. BidaskClub cut shares of BGC Partners from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd.
About BGC Partners
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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