ValuEngine Downgrades BGC Partners (BGCP) to Buy
BGC Partners (NASDAQ:BGCP) was downgraded by investment analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.
A number of other equities analysts also recently commented on the stock. Zacks Investment Research raised shares of BGC Partners from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective for the company in a research note on Wednesday, October 4th. BidaskClub raised shares of BGC Partners from a “hold” rating to a “buy” rating in a report on Thursday, August 17th.
Shares of BGC Partners (BGCP) traded up $0.02 during trading hours on Friday, reaching $16.35. 1,548,564 shares of the company were exchanged, compared to its average volume of 1,171,865. The company has a market capitalization of $4,722.81, a P/E ratio of 16.19 and a beta of 1.27. BGC Partners has a 52 week low of $9.78 and a 52 week high of $16.51. The company has a quick ratio of 1.31, a current ratio of 1.32 and a debt-to-equity ratio of 2.97.
In other BGC Partners news, Director Linda A. Bell sold 13,650 shares of BGC Partners stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $14.70, for a total value of $200,655.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 44.45% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of BGC Partners during the third quarter valued at $114,000. Sei Investments Co. grew its holdings in shares of BGC Partners by 47.8% during the second quarter. Sei Investments Co. now owns 8,312 shares of the financial services provider’s stock valued at $105,000 after buying an additional 2,689 shares during the last quarter. Ffcm LLC grew its holdings in shares of BGC Partners by 169.5% during the second quarter. Ffcm LLC now owns 8,901 shares of the financial services provider’s stock valued at $113,000 after buying an additional 5,598 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of BGC Partners by 13.1% during the second quarter. PNC Financial Services Group Inc. now owns 9,508 shares of the financial services provider’s stock valued at $120,000 after buying an additional 1,100 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. purchased a new stake in shares of BGC Partners during the second quarter valued at $124,000. 43.10% of the stock is currently owned by hedge funds and other institutional investors.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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