BGC Partners (NASDAQ:BGCP) Downgraded by StockNews.com

StockNews.com downgraded shares of BGC Partners (NASDAQ:BGCPGet Rating) from a buy rating to a hold rating in a research note published on Friday.

A number of other equities analysts have also recently commented on BGCP. Zacks Investment Research cut BGC Partners from a hold rating to a sell rating in a report on Wednesday, May 4th. Credit Suisse Group initiated coverage on BGC Partners in a report on Tuesday, February 15th. They set an outperform rating and a $7.00 price target for the company.

Shares of BGC Partners stock opened at $3.15 on Friday. The stock’s fifty day simple moving average is $3.90 and its 200 day simple moving average is $4.31. BGC Partners has a 12 month low of $3.02 and a 12 month high of $6.51. The company has a market capitalization of $1.18 billion, a PE ratio of 10.86 and a beta of 1.67. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.43.

BGC Partners (NASDAQ:BGCPGet Rating) last released its quarterly earnings results on Monday, May 2nd. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). BGC Partners had a net margin of 5.59% and a return on equity of 49.15%. The firm had revenue of $506.46 million during the quarter, compared to analyst estimates of $519.95 million. During the same period in the prior year, the business earned $0.18 EPS. Analysts predict that BGC Partners will post 0.7 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 2nd. Investors of record on Thursday, May 19th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Wednesday, May 18th. BGC Partners’s payout ratio is currently 13.79%.

Several hedge funds and other institutional investors have recently modified their holdings of BGCP. Vanguard Group Inc. boosted its stake in shares of BGC Partners by 0.9% during the first quarter. Vanguard Group Inc. now owns 30,064,994 shares of the financial services provider’s stock valued at $132,286,000 after purchasing an additional 269,900 shares in the last quarter. Rubric Capital Management LP boosted its stake in shares of BGC Partners by 27.6% during the fourth quarter. Rubric Capital Management LP now owns 15,500,000 shares of the financial services provider’s stock valued at $72,075,000 after purchasing an additional 3,350,000 shares in the last quarter. Boussard & Gavaudan Investment Management LLP boosted its stake in shares of BGC Partners by 46.3% during the fourth quarter. Boussard & Gavaudan Investment Management LLP now owns 7,661,495 shares of the financial services provider’s stock valued at $35,396,000 after purchasing an additional 2,425,216 shares in the last quarter. State Street Corp boosted its stake in shares of BGC Partners by 9.9% during the fourth quarter. State Street Corp now owns 7,639,150 shares of the financial services provider’s stock valued at $35,522,000 after purchasing an additional 690,387 shares in the last quarter. Finally, AltraVue Capital LLC boosted its stake in shares of BGC Partners by 31.9% during the first quarter. AltraVue Capital LLC now owns 7,524,520 shares of the financial services provider’s stock valued at $33,108,000 after purchasing an additional 1,819,460 shares in the last quarter. Institutional investors own 54.77% of the company’s stock.

About BGC Partners (Get Rating)

BGC Partners, Inc operates as a financial brokerage and technology company in the United States, France, other Europe, the United Kingdom, other Americas, Asia, Australia, Africa, and the Middle East. It offers various brokerage products, such as fixed income, such as government bonds, corporate bonds, and other debt instruments, as well as related interest rate derivatives and credit derivatives; and fixed income, equity derivatives and cash equities, energy and commodities, shipping, insurance, and futures and options.

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