BGC Partners (BGCP) Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP decreased its position in shares of BGC Partners (NASDAQ:BGCP) by 36.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,828 shares of the financial services provider’s stock after selling 79,247 shares during the period. Engineers Gate Manager LP’s holdings in BGC Partners were worth $1,867,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its position in shares of BGC Partners by 4.3% during the fourth quarter. BlackRock Inc. now owns 11,549,090 shares of the financial services provider’s stock valued at $174,507,000 after purchasing an additional 480,323 shares in the last quarter. Convergence Investment Partners LLC purchased a new position in shares of BGC Partners during the fourth quarter valued at about $1,755,000. Bailard Inc. purchased a new position in shares of BGC Partners during the fourth quarter valued at about $644,000. Swiss National Bank grew its position in shares of BGC Partners by 2.4% during the fourth quarter. Swiss National Bank now owns 364,108 shares of the financial services provider’s stock valued at $5,502,000 after purchasing an additional 8,700 shares in the last quarter. Finally, Bank of Montreal Can grew its position in shares of BGC Partners by 7.5% during the fourth quarter. Bank of Montreal Can now owns 63,008 shares of the financial services provider’s stock valued at $952,000 after purchasing an additional 4,388 shares in the last quarter. Hedge funds and other institutional investors own 45.12% of the company’s stock.

A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered BGC Partners from a “hold” rating to a “sell” rating in a research report on Monday, May 7th. BidaskClub lowered BGC Partners from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 9th. TheStreet upgraded BGC Partners from a “c+” rating to a “b” rating in a research report on Thursday, May 3rd. ValuEngine lowered BGC Partners from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Finally, BGC Financial upgraded BGC Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.00.

BGC Partners opened at $12.26 on Friday, according to Marketbeat Ratings. The stock has a market capitalization of $3.72 billion, a P/E ratio of 10.22 and a beta of 1.07. BGC Partners has a 12 month low of $12.04 and a 12 month high of $12.14. The company has a quick ratio of 1.12, a current ratio of 1.14 and a debt-to-equity ratio of 0.99.

BGC Partners (NASDAQ:BGCP) last released its quarterly earnings results on Thursday, May 3rd. The financial services provider reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The company had revenue of $956.65 million during the quarter, compared to analyst estimates of $924.00 million. BGC Partners had a return on equity of 48.64% and a net margin of 1.24%. analysts anticipate that BGC Partners will post 1.35 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 5th. Investors of record on Monday, May 21st will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, May 18th. This represents a $0.72 annualized dividend and a yield of 5.87%. BGC Partners’s dividend payout ratio is currently 60.00%.

BGC Partners Profile

BGC Partners, Inc operates as a brokerage company servicing the financial and real estate markets worldwide. It operates in two segments, Financial Services and Real Estate Services. The Financial Services segment provides brokerage services for fixed income, interest rate derivatives, spot foreign exchange, foreign exchange derivatives, government bonds, corporate bonds, credit derivatives, insurance and money market products, energy, metals, equity derivatives, and structured market data products and services.

Institutional Ownership by Quarter for BGC Partners (NASDAQ:BGCP)

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