BGC Partners (NASDAQ:BGCP) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Saturday.
Other analysts also recently issued reports about the stock. Raymond James cut their price objective on shares of BGC Partners from $17.00 to $16.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 26th. ValuEngine cut shares of BGC Partners from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 22nd. TheStreet cut shares of BGC Partners from a “b” rating to a “c+” rating in a research note on Wednesday, December 19th. Finally, Zacks Investment Research upgraded shares of BGC Partners from a “sell” rating to a “hold” rating and set a $12.00 target price on the stock in a research note on Monday, October 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.00.
NASDAQ:BGCP opened at $6.11 on Friday. BGC Partners has a 52 week low of $4.93 and a 52 week high of $14.96. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market cap of $1.98 billion, a P/E ratio of 5.09 and a beta of 1.22.
BGC Partners (NASDAQ:BGCP) last posted its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.03). BGC Partners had a net margin of 2.49% and a return on equity of 43.44%. The firm had revenue of $977.25 million for the quarter, compared to the consensus estimate of $969.00 million. Equities research analysts expect that BGC Partners will post 1.41 EPS for the current fiscal year.
In other news, insider Sean Galvin bought 20,000 shares of BGC Partners stock in a transaction on Monday, October 29th. The stock was acquired at an average cost of $11.08 per share, for a total transaction of $221,600.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 32.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Laurel Wealth Advisors Inc. acquired a new position in BGC Partners in the second quarter valued at approximately $148,000. Oakbrook Investments LLC acquired a new position in BGC Partners in the 3rd quarter valued at $157,000. Wright Investors Service Inc. acquired a new position in BGC Partners in the 3rd quarter valued at $188,000. Jane Street Group LLC purchased a new stake in BGC Partners in the 2nd quarter valued at $224,000. Finally, ARP Americas LP purchased a new stake in BGC Partners in the 3rd quarter valued at $318,000. Hedge funds and other institutional investors own 51.42% of the company’s stock.
BGC Partners Company 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.
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