Renaissance Technologies LLC lifted its stake in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 89.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,762,048 shares of the financial services provider’s stock after purchasing an additional 1,771,548 shares during the quarter. Renaissance Technologies LLC owned about 1.30% of BGC Partners worth $56,845,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in BGCP. Nationwide Fund Advisors boosted its position in shares of BGC Partners by 53.2% during the 3rd quarter. Nationwide Fund Advisors now owns 127,000 shares of the financial services provider’s stock worth $1,838,000 after purchasing an additional 44,100 shares in the last quarter. Aperio Group LLC boosted its position 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 purchasing an additional 33,154 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position 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 purchasing an additional 104,240 shares in the last quarter. American Century Companies Inc. bought a new position in shares of BGC Partners during the 3rd quarter worth about $1,188,000. Finally, Swiss National Bank boosted its position 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 purchasing an additional 6,500 shares in the last quarter. 44.27% of the stock is currently owned by institutional investors.
Shares of BGC Partners, Inc. (BGCP) opened at $14.06 on Wednesday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.20 and a quick ratio of 1.18. BGC Partners, Inc. has a fifty-two week low of $10.39 and a fifty-two week high of $16.97. The firm has a market cap of $4,437.43, a PE ratio of 13.05 and a beta of 1.10.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 13th. Investors of record on Tuesday, February 27th were issued a $0.18 dividend. The ex-dividend date was Monday, February 26th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.12%.
A number of research firms have recently issued reports on BGCP. BidaskClub raised shares of BGC Partners from a “sell” rating to a “hold” rating in a research report on Saturday. TheStreet lowered shares of BGC Partners from a “b” rating to a “c+” rating in a report on Monday, February 12th. BGC Financial upgraded shares of BGC Partners from a “hold” rating to a “buy” rating in a report on Tuesday, February 13th. Finally, ValuEngine lowered shares of BGC Partners from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $18.00.
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BGC Partners 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.
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