Redwood Investments LLC increased its stake in shares of BGC Partners Inc. (NASDAQ:BGCP) by 20.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 494,796 shares of the company’s stock after buying an additional 82,336 shares during the period. Redwood Investments LLC’s holdings in BGC Partners were worth $4,310,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. Commonwealth Equity Services Inc boosted its position in shares of BGC Partners by 52.3% in the first quarter. Commonwealth Equity Services Inc now owns 148,137 shares of the company’s stock valued at $1,341,000 after buying an additional 50,855 shares during the period. Virginia Retirement System bought a new position in shares of BGC Partners during the first quarter valued at about $780,000. Pacad Investment Ltd. boosted its position in shares of BGC Partners by 19.7% in the first quarter. Pacad Investment Ltd. now owns 48,600 shares of the company’s stock valued at $440,000 after buying an additional 8,000 shares during the period. BlackRock Inc. boosted its position in shares of BGC Partners by 138.1% in the first quarter. BlackRock Inc. now owns 12,083 shares of the company’s stock valued at $109,000 after buying an additional 7,008 shares during the period. Finally, BlackRock Group LTD boosted its position in shares of BGC Partners by 14.5% in the first quarter. BlackRock Group LTD now owns 216,067 shares of the company’s stock valued at $1,955,000 after buying an additional 27,376 shares during the period. 38.79% of the stock is owned by institutional investors and hedge funds.
BGC Partners Inc. (NASDAQ:BGCP) traded down 1.38% during trading on Tuesday, reaching $8.56. The company had a trading volume of 1,077,600 shares. BGC Partners Inc. has a 1-year low of $8.12 and a 1-year high of $9.90. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 17.72 and a beta of 1.33. The firm has a 50-day moving average of $8.85 and a 200-day moving average of $8.96.
BGC Partners (NASDAQ:BGCP) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.19 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.19. BGC Partners had a return on equity of 24.31% and a net margin of 5.01%. The company had revenue of $652 million for the quarter, compared to analysts’ expectations of $665.70 million. During the same period last year, the firm earned $0.18 earnings per share. BGC Partners’s quarterly revenue was down 2.5% on a year-over-year basis. On average, analysts anticipate that BGC Partners Inc. will post $0.84 EPS for the current fiscal year.
Separately, Zacks Investment Research cut BGC Partners from a “hold” rating to a “strong sell” rating in a report on Friday, July 1st.
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. 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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