Virginia Retirement Systems ET AL bought a new position in BGC Partners Inc. (NASDAQ:BGCP) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 86,200 shares of the company’s stock, valued at approximately $751,000.
Other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its position in BGC Partners by 112.1% in the second quarter. BNP Paribas Arbitrage SA now owns 20,228 shares of the company’s stock worth $176,000 after buying an additional 10,693 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in BGC Partners by 0.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 68,741 shares of the company’s stock worth $622,000 after buying an additional 541 shares in the last quarter. Renaissance Technologies LLC increased its position in BGC Partners by 39.2% in the first quarter. Renaissance Technologies LLC now owns 1,816,120 shares of the company’s stock worth $16,436,000 after buying an additional 511,372 shares in the last quarter. Granahan Investment Management Inc. MA increased its position in BGC Partners by 16.4% in the first quarter. Granahan Investment Management Inc. MA now owns 815,400 shares of the company’s stock worth $7,379,000 after buying an additional 115,100 shares in the last quarter. Finally, State Street Corp increased its position in BGC Partners by 3.2% in the first quarter. State Street Corp now owns 3,753,702 shares of the company’s stock worth $33,974,000 after buying an additional 118,153 shares in the last quarter. Hedge funds and other institutional investors own 38.79% of the company’s stock.
Shares of BGC Partners Inc. (NASDAQ:BGCP) opened at 8.68 on Tuesday. BGC Partners Inc. has a 52 week low of $8.12 and a 52 week high of $9.90. The company has a 50-day moving average of $8.85 and a 200 day moving average of $8.96. The firm has a market capitalization of $2.40 billion, a P/E ratio of 17.97 and a beta of 1.33.
BGC Partners (NASDAQ:BGCP) last released its earnings results on Thursday, July 28th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The business had revenue of $652 million for the quarter, compared to analyst estimates of $665.70 million. BGC Partners had a net margin of 5.01% and a return on equity of 24.31%. BGC Partners’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 earnings per share. Equities research analysts anticipate that BGC Partners Inc. will post $0.84 earnings per share for the current year.
Separately, Zacks Investment Research downgraded shares of BGC Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, July 1st.
About BGC Partners
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. The Company provides a range of services, including trade execution, broker-dealer services, clearing, processing, information, and other back-office services to a range of financial and non-financial institutions.
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