BGC Partners, Inc. (NASDAQ:BGCP) Short Interest Down 8.1% in January

BGC Partners, Inc. (NASDAQ:BGCP) saw a large drop in short interest in January. As of January 31st, there was short interest totalling 5,990,000 shares, a drop of 8.1% from the January 15th total of 6,520,000 shares. Approximately 2.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,840,000 shares, the short-interest ratio is presently 3.3 days.

Shares of BGCP stock traded down $0.05 during trading hours on Friday, reaching $5.38. The company’s stock had a trading volume of 1,431,191 shares. BGC Partners has a one year low of $4.46 and a one year high of $6.41. The firm’s fifty day simple moving average is $5.78 and its 200 day simple moving average is $5.56.

BGC Partners (NASDAQ:BGCP) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.01. The business had revenue of $487.20 million during the quarter, compared to the consensus estimate of $476.00 million. BGC Partners’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 earnings per share. As a group, equities analysts predict that BGC Partners will post 0.62 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 26th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $0.56 annualized dividend and a dividend yield of 10.41%.

BGCP has been the topic of a number of research reports. BidaskClub cut BGC Partners from a “buy” rating to a “hold” rating in a report on Friday, February 7th. ValuEngine raised BGC Partners from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. Finally, Zacks Investment Research cut BGC Partners from a “hold” rating to a “sell” rating in a report on Tuesday, February 11th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bristlecone Advisors LLC bought a new stake in BGC Partners in the fourth quarter worth $520,000. State Street Corp boosted its holdings in BGC Partners by 1.9% in the third quarter. State Street Corp now owns 3,957,984 shares of the financial services provider’s stock worth $21,769,000 after acquiring an additional 72,579 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC boosted its holdings in BGC Partners by 68.6% in the third quarter. Philadelphia Financial Management of San Francisco LLC now owns 3,562,223 shares of the financial services provider’s stock worth $19,592,000 after acquiring an additional 1,449,619 shares in the last quarter. First Trust Advisors LP boosted its holdings in BGC Partners by 79.8% in the third quarter. First Trust Advisors LP now owns 3,362,275 shares of the financial services provider’s stock worth $18,493,000 after acquiring an additional 1,492,055 shares in the last quarter. Finally, Man Group plc boosted its holdings in BGC Partners by 650.8% in the third quarter. Man Group plc now owns 191,361 shares of the financial services provider’s stock worth $1,053,000 after acquiring an additional 165,874 shares in the last quarter. Institutional investors own 53.52% of the company’s stock.

BGC Partners Company Profile

BGC Partners, Inc operates as a brokerage and financial technology company worldwide. It offers various brokerage products, such as fixed income, foreign exchange, equities, energy and commodities, insurance, and futures. The company also provides other services that include trade execution, broker dealer, clearing, trade compression, post-trade, information, and other back office services to financial and non-financial institutions.

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