BGC Partners, Inc. (NASDAQ:BGCP) Sees Large Growth in Short Interest
BGC Partners, Inc. (NASDAQ:BGCP) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 1,318,530 shares, a growth of 27.8% from the July 14th total of 1,031,642 shares. Based on an average daily volume of 1,750,025 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.6% of the shares of the company are sold short.
BGC Partners (NASDAQ BGCP) opened at 12.47 on Friday. BGC Partners has a one year low of $8.36 and a one year high of $13.44. The company has a market capitalization of $3.57 billion, a PE ratio of 31.41 and a beta of 1.29. The stock’s 50 day moving average is $12.72 and its 200 day moving average is $11.77.
BGC Partners (NASDAQ:BGCP) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.24 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.24. The company had revenue of $737.80 million for the quarter, compared to analysts’ expectations of $716 million. BGC Partners had a net margin of 4.23% and a return on equity of 35.60%. BGC Partners’s revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 EPS. On average, analysts anticipate that BGC Partners will post $0.99 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 28th. Investors of record on Monday, August 14th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date of this dividend is Thursday, August 10th. BGC Partners’s payout ratio is currently 180.00%.
Several hedge funds have recently made changes to their positions in BGCP. Sei Investments Co. boosted its stake in shares of BGC Partners by 47.8% in the second quarter. Sei Investments Co. now owns 8,312 shares of the financial services provider’s stock worth $105,000 after buying an additional 2,689 shares during the last quarter. Ffcm LLC raised its stake in BGC Partners by 169.5% in the second quarter. Ffcm LLC now owns 8,901 shares of the financial services provider’s stock worth $113,000 after buying an additional 5,598 shares during the period. PNC Financial Services Group Inc. raised its stake in BGC Partners by 13.1% in the second quarter. PNC Financial Services Group Inc. now owns 9,508 shares of the financial services provider’s stock worth $120,000 after buying an additional 1,100 shares during the period. Bronfman E.L. Rothschild L.P. purchased a new stake in BGC Partners during the second quarter worth $124,000. Finally, Comerica Bank purchased a new stake in BGC Partners during the second quarter worth $135,000. Institutional investors own 45.88% of the company’s stock.
Several research analysts have recently commented on the stock. BidaskClub cut shares of BGC Partners from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Zacks Investment Research cut shares of BGC Partners from a “buy” rating to a “hold” rating in a report on Friday, July 28th.
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About BGC Partners
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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