BGC Partners (NASDAQ:BGCP) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of BGC Partners (NASDAQ:BGCP) from a hold rating to a buy rating in a research report released on Thursday, BidAskClub reports.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of BGC Partners from a hold rating to a sell rating in a report on Monday, October 28th. ValuEngine raised shares of BGC Partners from a sell rating to a hold rating in a report on Wednesday, October 2nd.

NASDAQ:BGCP traded down $0.03 during mid-day trading on Thursday, hitting $5.70. The company had a trading volume of 1,191,700 shares, compared to its average volume of 1,992,841. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 7.92 and a beta of 1.40. BGC Partners has a 1 year low of $4.46 and a 1 year high of $11.33. The business has a fifty day simple moving average of $5.49 and a 200-day simple moving average of $5.27. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.38.

BGC Partners (NASDAQ:BGCP) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.15 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.15. The business had revenue of $521.10 million during the quarter, compared to the consensus estimate of $511.05 million. BGC Partners had a return on equity of 35.30% and a net margin of 2.56%. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period last year, the firm earned $0.15 earnings per share. As a group, research analysts anticipate that BGC Partners will post 0.62 earnings per share for the current year.

The firm also recently announced a dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Wednesday, November 13th will be issued a $0.14 dividend. The ex-dividend date is Tuesday, November 12th. BGC Partners’s dividend payout ratio is currently 77.78%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Eqis Capital Management Inc. lifted its holdings in BGC Partners by 126.6% in the third quarter. Eqis Capital Management Inc. now owns 97,659 shares of the financial services provider’s stock worth $537,000 after acquiring an additional 54,567 shares during the last quarter. Delta Investment Management LLC bought a new position in BGC Partners in the third quarter worth about $96,000. First Trust Advisors LP lifted its holdings in BGC Partners by 79.8% in the third quarter. First Trust Advisors LP now owns 3,362,275 shares of the financial services provider’s stock worth $18,493,000 after acquiring an additional 1,492,055 shares during the last quarter. Tibra Equities Europe Ltd bought a new position in BGC Partners in the third quarter worth about $265,000. Finally, Russell Investments Group Ltd. lifted its holdings in BGC Partners by 6.9% in the third quarter. Russell Investments Group Ltd. now owns 1,137,345 shares of the financial services provider’s stock worth $6,255,000 after acquiring an additional 73,854 shares during the last quarter. 52.61% of the stock is currently owned by hedge funds and other institutional investors.

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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