California Public Employees Retirement System trimmed its position in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 0.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 788,456 shares of the financial services provider’s stock after selling 7,556 shares during the quarter. California Public Employees Retirement System’s holdings in BGC Partners were worth $8,925,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Keybank National Association OH bought a new position in BGC Partners during the second quarter valued at about $113,000. Comerica Bank bought a new position in BGC Partners during the second quarter valued at about $115,000. CIBC Asset Management Inc bought a new position in BGC Partners during the second quarter valued at about $127,000. Ancora Advisors LLC bought a new position in BGC Partners during the first quarter valued at about $148,000. Finally, BRYN MAWR TRUST Co bought a new position in BGC Partners during the second quarter valued at about $182,000. Institutional investors and hedge funds own 51.55% of the company’s stock.
NASDAQ BGCP opened at $11.54 on Tuesday. BGC Partners, Inc. has a fifty-two week low of $10.39 and a fifty-two week high of $16.97. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.14 and a current ratio of 1.16. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 9.62 and a beta of 1.04.
BGC Partners (NASDAQ:BGCP) last posted its quarterly earnings data on Thursday, August 2nd. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The business had revenue of $960.08 million for the quarter, compared to analyst estimates of $938.00 million. BGC Partners had a return on equity of 46.19% and a net margin of 1.53%. During the same period in the previous year, the company posted $0.24 earnings per share. Analysts anticipate that BGC Partners, Inc. will post 1.38 earnings per share for the current fiscal year.
BGCP has been the topic of several recent research reports. ValuEngine lowered BGC Partners from a “sell” rating to a “strong sell” rating in a report on Saturday, September 22nd. BidaskClub lowered BGC Partners from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. Finally, Zacks Investment Research upgraded BGC Partners from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Tuesday, July 3rd. Three equities research analysts have rated the stock with a sell rating and one has issued a buy rating to the company’s stock. BGC Partners presently has an average rating of “Hold” and a consensus target price of $13.00.
In other BGC Partners news, Director William J. Moran acquired 10,000 shares of the company’s stock in a transaction dated Thursday, August 2nd. The shares were acquired at an average cost of $11.09 per share, for a total transaction of $110,900.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 32.80% 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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