Wedbush Securities Inc. Grows Stock Position in BGC Partners, Inc. (NASDAQ:BGCP)

Wedbush Securities Inc. boosted its position in BGC Partners, Inc. (NASDAQ:BGCP) by 27.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,945 shares of the financial services provider’s stock after buying an additional 5,547 shares during the quarter. Wedbush Securities Inc.’s holdings in BGC Partners were worth $136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Stifel Financial Corp acquired a new position in shares of BGC Partners during the 4th quarter worth approximately $137,000. Bank of America Corp DE increased its holdings in shares of BGC Partners by 5.9% during the 4th quarter. Bank of America Corp DE now owns 604,953 shares of the financial services provider’s stock worth $3,129,000 after acquiring an additional 33,641 shares during the last quarter. FMR LLC increased its holdings in shares of BGC Partners by 14,301.6% during the 4th quarter. FMR LLC now owns 476,404 shares of the financial services provider’s stock worth $2,463,000 after acquiring an additional 473,096 shares during the last quarter. Norges Bank acquired a new position in shares of BGC Partners during the 4th quarter worth approximately $14,373,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of BGC Partners during the 1st quarter worth approximately $115,000. 52.27% of the stock is owned by institutional investors and hedge funds.

NASDAQ BGCP traded down $0.11 on Tuesday, reaching $5.00. The stock had a trading volume of 12,258 shares, compared to its average volume of 1,817,830. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.11 and a quick ratio of 1.09. The firm has a fifty day moving average of $5.35 and a two-hundred day moving average of $5.45. BGC Partners, Inc. has a 1-year low of $4.46 and a 1-year high of $12.65. The company has a market cap of $1.74 billion, a P/E ratio of 6.97 and a beta of 1.39.

BGC Partners (NASDAQ:BGCP) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). BGC Partners had a net margin of 6.98% and a return on equity of 38.17%. The firm had revenue of $551.20 million during the quarter, compared to analyst estimates of $546.65 million. During the same period in the prior year, the company earned $0.30 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. Research analysts predict that BGC Partners, Inc. will post 0.63 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 11.20%. The ex-dividend date of this dividend is Tuesday, August 13th. BGC Partners’s dividend payout ratio is 77.78%.

BGCP has been the topic of a number of recent analyst reports. BidaskClub raised BGC Partners from a “hold” rating to a “buy” rating in a report on Saturday, July 6th. Zacks Investment Research lowered BGC Partners from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. BGC Partners currently has an average rating of “Hold” and an average target price of $11.00.

About BGC Partners

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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