Trexquant Investment LP Sells 24,646 Shares of BGC Partners, Inc. (BGCP)
Trexquant Investment LP decreased its position in BGC Partners, Inc. (NASDAQ:BGCP) by 52.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,914 shares of the financial services provider’s stock after selling 24,646 shares during the quarter. Trexquant Investment LP’s holdings in BGC Partners were worth $317,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of BGCP. Principal Financial Group Inc. lifted its holdings in BGC Partners by 247.8% in the second quarter. Principal Financial Group Inc. now owns 7,921,620 shares of the financial services provider’s stock valued at $100,129,000 after acquiring an additional 5,643,875 shares during the period. Prudential Financial Inc. lifted its holdings in BGC Partners by 2,838.5% in the second quarter. Prudential Financial Inc. now owns 1,743,966 shares of the financial services provider’s stock valued at $22,043,000 after acquiring an additional 1,684,617 shares during the period. Goldman Sachs Group Inc. lifted its holdings in BGC Partners by 136.8% in the second quarter. Goldman Sachs Group Inc. now owns 1,560,790 shares of the financial services provider’s stock valued at $19,728,000 after acquiring an additional 901,592 shares during the period. Renaissance Technologies LLC lifted its holdings in BGC Partners by 67.5% in the second quarter. Renaissance Technologies LLC now owns 2,232,548 shares of the financial services provider’s stock valued at $28,219,000 after acquiring an additional 899,900 shares during the period. Finally, First Trust Advisors LP lifted its holdings in BGC Partners by 352.8% in the third quarter. First Trust Advisors LP now owns 1,086,626 shares of the financial services provider’s stock valued at $15,723,000 after acquiring an additional 846,623 shares during the period. 43.10% of the stock is currently owned by institutional investors.
BGC Partners, Inc. (BGCP) opened at $16.51 on Wednesday. The company has a debt-to-equity ratio of 2.97, a current ratio of 1.32 and a quick ratio of 1.31. BGC Partners, Inc. has a 12 month low of $9.86 and a 12 month high of $16.90. The company has a market capitalization of $4,722.81, a PE ratio of 16.19 and a beta of 1.27.
BGC Partners (NASDAQ:BGCP) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29. BGC Partners had a return on equity of 42.02% and a net margin of 4.67%. The firm had revenue of $827.03 million for the quarter.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Stockholders of record on Tuesday, November 14th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.36%. The ex-dividend date was Monday, November 13th. BGC Partners’s dividend payout ratio (DPR) is currently 153.19%.
In other news, Director Linda A. Bell sold 13,650 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $14.70, for a total value of $200,655.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 44.45% of the stock is owned by company insiders.
A number of research analysts have weighed in on the company. ValuEngine downgraded BGC Partners from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research raised BGC Partners from a “hold” rating to a “strong-buy” rating and set a $18.00 target price on the stock in a report on Wednesday, October 4th. Finally, BidaskClub raised BGC Partners from a “hold” rating to a “buy” rating in a report on Thursday, August 17th.
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BGC Partners Profile
BGC Partners, Inc (BGC) is a global brokerage company servicing the financial and real estate markets. The Company operates through two segments: Financial Services and Real Estate Services. It provides a range of services, including trade execution, broker-dealer services clearing, trade compression, post trade, information, and other back-office services to a range of financial and non-financial institutions.
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