BGC Partners Director Unloads $26,449 in Stock (BGCP)
BGC Partners (NASDAQ:BGCP) Director Linda A. Bell sold 3,471 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $7.62, for a total value of $26,449.02. Following the sale, the director now directly owns 18,343 shares in the company, valued at approximately $139,774. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of BGC Partners (NASDAQ:BGCP) traded up 0.26% on Friday, hitting $7.63. 710,754 shares of the company’s stock traded hands. BGC Partners has a 52 week low of $5.10 and a 52 week high of $8.01. The stock’s 50-day moving average is $7.66 and its 200-day moving average is $7.18. The company has a market cap of $1.657 billion and a price-to-earnings ratio of 61.87.
BGC Partners (NASDAQ:BGCP) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. The company had revenue of $430.30 million for the quarter, compared to the consensus estimate of $429.60 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. Analysts expect that BGC Partners will post $0.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 5th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 6.30%. The ex-dividend date of this dividend is Wednesday, August 20th.
Separately, analysts at Raymond James reiterated an “outperform” rating on shares of BGC Partners in a research note on Tuesday, June 24th. They now have a $8.00 price target on the stock, up previously from $7.50.
BGC Partners, Inc (NASDAQ:BGCP) is a global brokerage company primarily servicing the wholesale financial markets, specializing in the brokering of a range of products, including fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commercial real estate, property derivatives, commodities, futures and structured products.
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