Dimensional Fund Advisors LP boosted its stake in BGC Partners Inc. (NASDAQ:BGCP) by 12.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,845,573 shares of the company’s stock after buying an additional 547,379 shares during the period. Dimensional Fund Advisors LP owned approximately 1.75% of BGC Partners worth $42,205,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in 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. Menta Capital LLC purchased a new position in BGC Partners during the first quarter valued at $126,000. Fox Run Management L.L.C. purchased a new position in BGC Partners during the second quarter valued at $123,000. BLB&B Advisors LLC boosted its position in BGC Partners by 46.3% in the second quarter. BLB&B Advisors LLC now owns 14,910 shares of the company’s stock valued at $130,000 after buying an additional 4,720 shares during the last quarter. Finally, IMS Capital Management boosted its position in BGC Partners by 0.3% in the second quarter. IMS Capital Management now owns 16,022 shares of the company’s stock valued at $140,000 after buying an additional 52 shares during the last quarter. 38.79% of the stock is currently owned by hedge funds and other institutional investors.
BGC Partners Inc. (NASDAQ:BGCP) opened at 8.88 on Friday. BGC Partners Inc. has a 1-year low of $8.18 and a 1-year high of $9.90. The company has a market cap of $2.46 billion, a PE ratio of 18.39 and a beta of 1.33. The company has a 50-day moving average price of $8.88 and a 200-day moving average price of $8.94.
BGC Partners (NASDAQ:BGCP) last issued its earnings results on Thursday, July 28th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.19. BGC Partners had a net margin of 5.01% and a return on equity of 24.31%. The company had revenue of $652 million for the quarter, compared to analysts’ expectations of $665.70 million. During the same quarter last year, the company posted $0.18 earnings per share. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. On average, analysts expect that BGC Partners Inc. will post $0.84 EPS for the current fiscal year.
Separately, Zacks Investment Research cut shares of 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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