BGC Partners, Inc. (BGCP) Insider Sean Galvin Purchases 20,000 Shares

Share on StockTwits

BGC Partners, Inc. (NASDAQ:BGCP) insider Sean Galvin acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The shares were bought at an average price of $11.08 per share, for a total transaction of $221,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

NASDAQ:BGCP opened at $10.59 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.14 and a current ratio of 1.16. BGC Partners, Inc. has a 52-week low of $10.08 and a 52-week high of $16.97. The firm has a market cap of $3.48 billion, a P/E ratio of 8.83 and a beta of 1.04.

BGC Partners (NASDAQ:BGCP) last announced its earnings results on Thursday, October 25th. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The business had revenue of $977.25 million during the quarter, compared to the consensus estimate of $969.00 million. BGC Partners had a return on equity of 47.08% and a net margin of 2.49%. Research analysts forecast that BGC Partners, Inc. will post 1.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Wednesday, November 7th will be paid a $0.18 dividend. The ex-dividend date is Tuesday, November 6th. This represents a $0.72 dividend on an annualized basis and a yield of 6.80%. BGC Partners’s dividend payout ratio is currently 60.00%.

A number of analysts recently issued reports on the company. Zacks Investment Research upgraded BGC Partners from a “sell” rating to a “hold” rating and set a $12.00 price objective on the stock in a research note on Monday. Raymond James decreased their price objective on BGC Partners from $17.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 26th. BidaskClub lowered BGC Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 10th. Finally, ValuEngine upgraded BGC Partners from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 4th. Two analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $14.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. HGK Asset Management Inc. increased its stake in BGC Partners by 19.4% in the 2nd quarter. HGK Asset Management Inc. now owns 35,193 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 5,707 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in BGC Partners by 19.1% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 37,978 shares of the financial services provider’s stock worth $449,000 after acquiring an additional 6,100 shares during the last quarter. Visionary Asset Management Inc. increased its stake in BGC Partners by 25.7% in the 2nd quarter. Visionary Asset Management Inc. now owns 30,437 shares of the financial services provider’s stock worth $345,000 after acquiring an additional 6,221 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in BGC Partners by 6.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 110,504 shares of the financial services provider’s stock worth $1,251,000 after acquiring an additional 6,825 shares during the last quarter. Finally, Aperio Group LLC increased its stake in BGC Partners by 8.2% in the 3rd quarter. Aperio Group LLC now owns 93,586 shares of the financial services provider’s stock worth $1,106,000 after acquiring an additional 7,107 shares during the last quarter. Institutional investors and hedge funds own 51.46% 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.

Recommended Story: Book Value Per Share – BVPS

Receive News & Ratings for BGC Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BGC Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply