BGC Partners (BGCP) Stock Rating Lowered by BidaskClub

BGC Partners (NASDAQ:BGCP) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

A number of other brokerages have also commented on BGCP. TheStreet lowered BGC Partners from a “b” rating to a “c+” rating in a report on Wednesday, December 19th. Zacks Investment Research downgraded BGC Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 25th. Finally, Raymond James lowered their price objective on BGC Partners from $17.00 to $16.00 and set a “strong-buy” rating for the company in a research report on Friday, October 26th. Three research analysts have rated the stock with a sell rating and one has issued a strong buy rating to the stock. BGC Partners has a consensus rating of “Hold” and an average price target of $14.00.

Shares of BGCP opened at $6.18 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.14 and a quick ratio of 1.14. BGC Partners has a 52-week low of $4.93 and a 52-week high of $14.67. The company has a market capitalization of $2.07 billion, a P/E ratio of 8.58 and a beta of 1.40.

BGC Partners (NASDAQ:BGCP) last released its earnings results on Thursday, February 14th. The financial services provider reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.02). BGC Partners had a net margin of 5.82% and a return on equity of 34.49%. The firm had revenue of $466.40 million during the quarter, compared to the consensus estimate of $462.00 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The company’s revenue was up 8.0% on a year-over-year basis. Equities analysts forecast that BGC Partners will post 0.75 EPS for the current year.

A number of institutional investors have recently modified their holdings of BGCP. Millennium Management LLC raised its stake in shares of BGC Partners by 195.8% during the 4th quarter. Millennium Management LLC now owns 2,961,665 shares of the financial services provider’s stock valued at $15,312,000 after purchasing an additional 1,960,414 shares during the period. Globeflex Capital L P grew its position in BGC Partners by 56.1% during the fourth quarter. Globeflex Capital L P now owns 110,147 shares of the financial services provider’s stock worth $569,000 after buying an additional 39,580 shares in the last quarter. Segall Bryant & Hamill LLC grew its position in BGC Partners by 26.2% during the fourth quarter. Segall Bryant & Hamill LLC now owns 1,383,377 shares of the financial services provider’s stock worth $7,152,000 after buying an additional 287,459 shares in the last quarter. Cipher Capital LP purchased a new position in shares of BGC Partners in the 4th quarter worth about $291,000. Finally, Paloma Partners Management Co purchased a new position in shares of BGC Partners in the 4th quarter worth about $66,000. Institutional investors and hedge funds own 51.98% 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.

Further Reading: Bid-Ask Spread

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