BGC Partners (BGCP) Lowered to “Hold” at BidaskClub

BidaskClub cut shares of BGC Partners (NASDAQ:BGCP) from a buy rating to a hold rating in a report released on Tuesday.

BGCP has been the subject of a number of other research reports. Zacks Investment Research upgraded 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 report on Wednesday, October 4th. ValuEngine downgraded shares of BGC Partners from a strong-buy rating to a buy rating in a report on Friday, December 1st.

Shares of BGC Partners (BGCP) opened at $14.78 on Tuesday. The company has a market cap of $4,251.98, a PE ratio of 14.57 and a beta of 1.27. The company has a quick ratio of 1.31, a current ratio of 1.32 and a debt-to-equity ratio of 2.97. BGC Partners has a 1-year low of $10.39 and a 1-year high of $16.97.

BGC Partners (NASDAQ:BGCP) last released its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.29 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.29. The company had revenue of $827.03 million during the quarter. BGC Partners had a net margin of 4.67% and a return on equity of 42.02%.

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of BGC Partners by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 18,619,070 shares of the financial services provider’s stock worth $235,346,000 after buying an additional 308,977 shares during the last quarter. AHL Partners LLP increased its holdings in shares of BGC Partners by 5.3% during the 2nd quarter. AHL Partners LLP now owns 312,912 shares of the financial services provider’s stock worth $3,955,000 after buying an additional 15,833 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of BGC Partners by 23.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 1,247,227 shares of the financial services provider’s stock worth $15,765,000 after buying an additional 232,993 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of BGC Partners by 67.5% during the 2nd quarter. Renaissance Technologies LLC now owns 2,232,548 shares of the financial services provider’s stock worth $28,219,000 after buying an additional 899,900 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of BGC Partners by 136.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,560,790 shares of the financial services provider’s stock worth $19,728,000 after buying an additional 901,592 shares during the last quarter. Institutional investors own 43.04% of the company’s stock.

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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.

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