Paloma Partners Management Co Acquires New Holdings in BGC Partners, Inc. (NASDAQ:BGCP)

Paloma Partners Management Co bought a new position in shares of BGC Partners, Inc. (NASDAQ:BGCP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,845 shares of the financial services provider’s stock, valued at approximately $66,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC lifted its position in shares of BGC Partners by 41.3% during the fourth quarter. Proficio Capital Partners LLC now owns 6,394 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 1,869 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of BGC Partners by 3.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,570 shares of the financial services provider’s stock worth $308,000 after buying an additional 1,900 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of BGC Partners by 21.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,474 shares of the financial services provider’s stock worth $60,000 after buying an additional 2,053 shares during the last quarter. Rhumbline Advisers increased its stake in shares of BGC Partners by 1.2% in the fourth quarter. Rhumbline Advisers now owns 238,189 shares of the financial services provider’s stock worth $1,231,000 after buying an additional 2,739 shares during the last quarter. Finally, Private Advisor Group LLC increased its stake in shares of BGC Partners by 18.7% in the fourth quarter. Private Advisor Group LLC now owns 19,441 shares of the financial services provider’s stock worth $101,000 after buying an additional 3,062 shares during the last quarter. 53.29% of the stock is currently owned by institutional investors and hedge funds.

BGCP stock traded up $0.06 during trading on Wednesday, hitting $5.52. 942,778 shares of the company’s stock traded hands, compared to its average volume of 2,238,346. BGC Partners, Inc. has a 52 week low of $4.93 and a 52 week high of $13.62. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 7.67 and a beta of 1.35. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.23 and a quick ratio of 1.20.

BGC Partners (NASDAQ:BGCP) last announced its quarterly earnings results on Thursday, February 14th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). The firm had revenue of $466.40 million for the quarter, compared to analyst estimates of $462.00 million. BGC Partners had a net margin of 5.82% and a return on equity of 39.22%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm posted $0.12 EPS. As a group, analysts expect that BGC Partners, Inc. will post 0.7 EPS for the current fiscal year.

A number of analysts recently issued reports on the stock. Zacks Investment Research lowered shares of BGC Partners from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. BidaskClub upgraded shares of BGC Partners from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 3rd. Three analysts have rated the stock with a sell rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $14.00.

In other BGC Partners news, Director Linda A. Bell sold 17,887 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $5.70, for a total value of $101,955.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 32.80% of the stock is currently owned by corporate insiders.

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BGC Partners 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.

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

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