Bank of America Corp DE lessened its holdings in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 745,889 shares of the financial services provider’s stock after selling 9,180 shares during the quarter. Bank of America Corp DE’s holdings in BGC Partners were worth $8,443,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. HGK Asset Management Inc. raised its stake in BGC Partners by 19.4% during the 2nd quarter. HGK Asset Management Inc. now owns 35,193 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 5,707 shares during the period. Visionary Asset Management Inc. raised its stake in BGC Partners by 25.7% during the 2nd quarter. Visionary Asset Management Inc. now owns 30,437 shares of the financial services provider’s stock valued at $345,000 after purchasing an additional 6,221 shares during the period. Bessemer Group Inc. raised its stake in BGC Partners by 6.9% during the 2nd quarter. Bessemer Group Inc. now owns 113,300 shares of the financial services provider’s stock valued at $1,282,000 after purchasing an additional 7,308 shares during the period. Keybank National Association OH bought a new stake in BGC Partners during the 2nd quarter valued at approximately $113,000. Finally, Sei Investments Co. raised its stake in BGC Partners by 39.3% during the 1st quarter. Sei Investments Co. now owns 36,078 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 10,170 shares during the period. 51.59% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on BGCP shares. ValuEngine downgraded BGC Partners from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 22nd. BidaskClub downgraded BGC Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Finally, Zacks Investment Research downgraded BGC Partners from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. Three equities research analysts have rated the stock with a sell rating and one has issued a buy rating to the company’s stock. BGC Partners has an average rating of “Hold” and a consensus price target of $13.00.
BGC Partners (NASDAQ:BGCP) last released its quarterly earnings data on Thursday, August 2nd. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.02. BGC Partners had a return on equity of 46.19% and a net margin of 1.53%. The business had revenue of $960.08 million for the quarter, compared to the consensus estimate of $938.00 million. During the same quarter in the previous year, the company posted $0.24 EPS. On average, equities analysts expect that BGC Partners, Inc. will post 1.38 earnings per share for the current fiscal year.
In other news, Director William J. Moran acquired 10,000 shares of BGC Partners stock in a transaction on Thursday, August 2nd. The shares were acquired at an average price of $11.09 per share, with a total value of $110,900.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 32.80% of the company’s stock.
BGC Partners Profile
BGC Partners, Inc operates as a brokerage company servicing the financial and real estate markets worldwide. It operates in two segments, Financial Services and Real Estate Services. The Financial Services segment provides brokerage services for fixed income, interest rate derivatives, spot foreign exchange, foreign exchange derivatives, government bonds, corporate bonds, credit derivatives, insurance and money market products, energy, metals, equity derivatives, and structured market data products and services.
Featured Story: How Important is Technical Analysis of Stocks
Want to see what other hedge funds are holding BGCP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BGC Partners, Inc. (NASDAQ:BGCP).
Receive News & Ratings for BGC Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BGC Partners and related companies with MarketBeat.com's FREE daily email newsletter.