According to Zacks, “BGC PARTNERS, INC. is a leading global full-service inter-dealer broker, specializing in the trading of financial instruments and related derivatives products. BGC Partners provides integrated voice, hybrid, and fully electronic execution and other brokerage services to some of the world’s largest and most credit worthy banks, broker-dealers, investment banks and investment firms for a broad range of global financial products, including fixed income securities, foreign exchange, equity derivatives, credit derivatives, futures, structured products and other instruments. Through its eSpeed and BGCantor Market Data brands, BGC also offers financial technology solutions and market data and analytics related to selected financial instruments and markets. Named after fixed income trading innovator B. Gerald Cantor, BGC Partners has offices in New York and London, as well as in Beijing, Chicago, Copenhagen, Hong Kong, Istanbul, Mexico City, Nyon, Paris, Seoul, Singapore, Sydney, Tokyo and Toronto. “
BGC Partners (NASDAQ:BGCP) traded down 0.46% during trading on Tuesday, reaching $8.66. 72,896 shares of the company traded hands. The firm has a 50-day moving average price of $8.84 and a 200-day moving average price of $8.95. BGC Partners has a 52 week low of $8.15 and a 52 week high of $9.90. The company has a market capitalization of $2.40 billion, a P/E ratio of 17.93 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 for the quarter, hitting the consensus estimate of $0.19. The company had revenue of $652 million for the quarter, compared to the consensus estimate 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 was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS. Analysts forecast that BGC Partners will post $0.84 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in BGCP. A.R.T. Advisors LLC acquired a new stake in shares of BGC Partners during the second quarter valued at approximately $108,000. BlackRock Inc. boosted its stake 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 last quarter. Fox Run Management L.L.C. acquired a new stake in shares of BGC Partners during the second quarter valued at approximately $123,000. Menta Capital LLC acquired a new stake in shares of BGC Partners during the first quarter valued at approximately $126,000. Finally, Nuveen Asset Management LLC boosted its stake in shares of BGC Partners by 16.1% in the second quarter. Nuveen Asset Management LLC now owns 14,411 shares of the company’s stock valued at $126,000 after buying an additional 1,998 shares during the last quarter. Institutional investors and hedge funds own 38.79% of the company’s stock.
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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