BidaskClub Downgrades BGC Partners (BGCP) to Hold
BidaskClub cut shares of BGC Partners (NASDAQ:BGCP) from a buy rating to a hold rating in a report issued on Tuesday.
A number of other brokerages have also recently weighed in on BGCP. ValuEngine cut shares of BGC Partners from a strong-buy rating to a buy rating in a report on Friday, December 1st. Zacks Investment Research upgraded shares of BGC Partners from a hold rating to a strong-buy rating and set a $18.00 price objective on the stock in a report on Wednesday, October 4th.
Shares of BGC Partners (BGCP) traded up $0.06 during midday trading on Tuesday, hitting $14.78. 1,641,044 shares of the company traded hands, compared to its average volume of 1,932,278. BGC Partners has a one year low of $10.39 and a one year high of $16.97. The company has a debt-to-equity ratio of 2.97, a current ratio of 1.32 and a quick ratio of 1.31. The stock has a market capitalization of $4,270.00, a PE ratio of 23.46 and a beta of 1.27.
A number of institutional investors and hedge funds have recently made changes to their positions in BGCP. Principal Financial Group Inc. grew its holdings in BGC Partners by 19.1% in the third quarter. Principal Financial Group Inc. now owns 9,436,839 shares of the financial services provider’s stock worth $136,552,000 after purchasing an additional 1,515,219 shares during the period. Wells Fargo & Company MN grew its holdings in BGC Partners by 284.6% in the third quarter. Wells Fargo & Company MN now owns 1,597,002 shares of the financial services provider’s stock worth $23,108,000 after purchasing an additional 1,181,790 shares during the period. Goldman Sachs Group Inc. grew 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 worth $19,728,000 after purchasing an additional 901,592 shares during the period. Renaissance Technologies LLC grew 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 worth $28,219,000 after purchasing an additional 899,900 shares during the period. Finally, First Trust Advisors LP grew 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 worth $15,723,000 after purchasing an additional 846,623 shares during the period. Institutional investors and hedge funds own 43.04% of the company’s stock.
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BGC Partners Company 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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