BGC Partners, Inc. (NASDAQ:BGCP) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 818,394 shares, a drop of 47.5% from the February 15th total of 1,558,169 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average daily trading volume, of 2,595,256 shares, the days-to-cover ratio is presently 0.3 days.
BGC Partners (NASDAQ:BGCP) opened at $14.49 on Tuesday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.20 and a quick ratio of 1.18. The firm has a market capitalization of $4,190.00, a P/E ratio of 24.56 and a beta of 1.10. BGC Partners has a one year low of $10.39 and a one year high of $16.97.
BGC Partners (NASDAQ:BGCP) last posted its quarterly earnings results on Friday, February 9th. The financial services provider reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.07. The firm had revenue of $894.23 million during the quarter, compared to the consensus estimate of $853.00 million. BGC Partners had a return on equity of 47.22% and a net margin of 0.05%. During the same period last year, the company earned $0.25 earnings per share. equities research analysts predict that BGC Partners will post 1.35 EPS for the current year.
BGCP has been the topic of a number of recent research reports. BidaskClub raised BGC Partners from a “strong sell” rating to a “sell” rating in a research report on Saturday, March 3rd. ValuEngine lowered BGC Partners from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. BGC Financial raised BGC Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, February 13th. Finally, TheStreet downgraded BGC Partners from a “b” rating to a “c+” rating in a research note on Monday, February 12th. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. BGC Partners currently has a consensus rating of “Buy” and a consensus price target of $18.00.
A number of hedge funds have recently bought and sold shares of BGCP. Nationwide Fund Advisors grew its stake in BGC Partners by 53.2% in the third quarter. Nationwide Fund Advisors now owns 127,000 shares of the financial services provider’s stock valued at $1,838,000 after purchasing an additional 44,100 shares in the last quarter. Aperio Group LLC boosted 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 worth $1,725,000 after acquiring an additional 33,154 shares during the period. Raymond James Financial Services Advisors Inc. boosted 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 worth $19,556,000 after acquiring an additional 104,240 shares during the period. American Century Companies Inc. bought a new position in shares of BGC Partners during the 3rd quarter worth approximately $1,188,000. Finally, Swiss National Bank boosted 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 worth $5,143,000 after acquiring an additional 6,500 shares during the period. Hedge funds and other institutional investors own 44.27% of the company’s stock.
WARNING: “BGC Partners, Inc. (BGCP) Short Interest Down 47.5% in February” was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark law. The correct version of this article can be read at https://www.americanbankingnews.com/2018/03/13/bgc-partners-inc-bgcp-short-interest-down-47-5-in-february.html.
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.
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.