BGC Partners, Inc. (NASDAQ:BGCP) saw a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 818,394 shares, a decline of 47.5% from the February 15th total of 1,558,169 shares. Based on an average trading volume of 2,595,256 shares, the short-interest ratio is currently 0.3 days. Approximately 0.5% of the company’s shares are sold short.
Several research analysts have weighed in on the company. BidaskClub upgraded BGC Partners from a “sell” rating to a “hold” rating in a report on Saturday. TheStreet downgraded BGC Partners from a “b” rating to a “c+” rating in a report on Monday, February 12th. ValuEngine downgraded BGC Partners from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Finally, BGC Financial upgraded BGC Partners from a “hold” rating to a “buy” rating in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. BGC Partners has a consensus rating of “Buy” and an average price target of $18.00.
Several hedge funds and other institutional investors have recently made changes to their positions in BGCP. Nationwide Fund Advisors grew its stake in shares of BGC Partners by 53.2% during the 3rd quarter. Nationwide Fund Advisors now owns 127,000 shares of the financial services provider’s stock valued at $1,838,000 after buying an additional 44,100 shares during the period. Aperio Group LLC grew its stake in shares of BGC Partners by 38.5% during the 3rd quarter. Aperio Group LLC now owns 119,235 shares of the financial services provider’s stock valued at $1,725,000 after buying an additional 33,154 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of BGC Partners by 8.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 1,351,467 shares of the financial services provider’s stock valued at $19,556,000 after buying an additional 104,240 shares during the period. American Century Companies Inc. purchased a new stake in shares of BGC Partners during the 3rd quarter valued at $1,188,000. Finally, Swiss National Bank grew its stake in shares of BGC Partners by 1.9% during the 3rd quarter. Swiss National Bank now owns 355,408 shares of the financial services provider’s stock valued at $5,143,000 after buying an additional 6,500 shares during the period. 44.27% of the stock is owned by institutional investors.
BGC Partners (NASDAQ:BGCP) last announced its quarterly earnings data on Friday, February 9th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.07. BGC Partners had a net margin of 0.05% and a return on equity of 47.22%. The company had revenue of $894.23 million during the quarter, compared to analysts’ expectations of $853.00 million. During the same period in the previous year, the company earned $0.25 EPS. sell-side analysts predict that BGC Partners will post 1.35 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 13th. Stockholders of record on Tuesday, February 27th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.72 annualized dividend and a dividend yield of 5.12%.
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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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