State of New Jersey Common Pension Fund D bought a new position in BGC Partners, Inc. (NASDAQ:BGCP) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 420,600 shares of the financial services provider’s stock, valued at approximately $2,313,000. State of New Jersey Common Pension Fund D owned approximately 0.12% of BGC Partners as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC purchased a new position in shares of BGC Partners in the second quarter worth about $25,000. Rockefeller Capital Management L.P. purchased a new position in shares of BGC Partners in the second quarter worth about $27,000. Riverhead Capital Management LLC purchased a new position in shares of BGC Partners in the second quarter worth about $28,000. Redhawk Wealth Advisors Inc. purchased a new position in shares of BGC Partners in the second quarter worth about $33,000. Finally, Enterprise Financial Services Corp grew its stake in BGC Partners by 21.4% during the second quarter. Enterprise Financial Services Corp now owns 11,195 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 1,973 shares in the last quarter. Hedge funds and other institutional investors own 52.61% of the company’s stock.
Several brokerages recently commented on BGCP. BidaskClub raised shares of BGC Partners from a “hold” rating to a “buy” rating in a research note on Thursday. ValuEngine raised shares of BGC Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research cut shares of BGC Partners from a “hold” rating to a “sell” rating in a research note on Monday, October 28th.
Shares of NASDAQ:BGCP opened at $5.73 on Friday. The company has a 50 day moving average of $5.48 and a 200 day moving average of $5.27. The stock has a market cap of $1.92 billion, a P/E ratio of 8.70 and a beta of 1.40. BGC Partners, Inc. has a 12 month low of $4.46 and a 12 month high of $11.43. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.38.
BGC Partners (NASDAQ:BGCP) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. The company had revenue of $521.10 million during the quarter, compared to analysts’ expectations of $511.05 million. BGC Partners had a net margin of 2.56% and a return on equity of 35.30%. BGC Partners’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.15 earnings per share. On average, equities analysts forecast that BGC Partners, Inc. will post 0.62 earnings per share for the current fiscal year.
The company also recently disclosed a dividend, which will be paid on Tuesday, November 26th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, November 12th. BGC Partners’s dividend payout ratio is currently 77.78%.
BGC Partners Company Profile
BGC Partners, Inc operates as a brokerage and financial technology company worldwide. It offers various brokerage products, such as fixed income, foreign exchange, equities, energy and commodities, insurance, and futures. The company also provides other services that include trade execution, broker dealer, clearing, trade compression, post-trade, information, and other back office services to financial and non-financial institutions.
See Also: Why Net Income is Important to Investors
Want to see what other hedge funds are holding BGCP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BGC Partners, Inc. (NASDAQ:BGCP).
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.