Peapack Gladstone Financial Corp Makes New $515,000 Investment in BGC Partners, Inc. (NASDAQ:BGCP)

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Peapack Gladstone Financial Corp bought a new position in shares of BGC Partners, Inc. (NASDAQ:BGCP) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 98,500 shares of the financial services provider’s stock, valued at approximately $515,000.

A number of other institutional investors have also bought and sold shares of BGCP. Signition LP acquired a new stake in shares of BGC Partners in the second quarter valued at about $71,000. Bristlecone Advisors LLC acquired a new stake in shares of BGC Partners in the second quarter valued at about $420,000. JPMorgan Chase & Co. grew its position in shares of BGC Partners by 16.7% in the second quarter. JPMorgan Chase & Co. now owns 2,631,418 shares of the financial services provider’s stock valued at $13,552,000 after purchasing an additional 376,883 shares during the last quarter. Cedar Brook Financial Partners LLC grew its position in shares of BGC Partners by 54.2% in the second quarter. Cedar Brook Financial Partners LLC now owns 28,216 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 9,920 shares during the last quarter. Finally, Comerica Bank acquired a new stake in shares of BGC Partners in the second quarter valued at about $71,000. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ BGCP traded down $0.03 during mid-day trading on Wednesday, hitting $5.59. The company had a trading volume of 21,933 shares, compared to its average volume of 1,593,815. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.11 and a quick ratio of 1.09. The business’s 50-day simple moving average is $5.23 and its 200-day simple moving average is $5.29. BGC Partners, Inc. has a 12 month low of $4.46 and a 12 month high of $12.02. The firm has a market cap of $1.95 billion, a P/E ratio of 7.76 and a beta of 1.43.

BGC Partners (NASDAQ:BGCP) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). BGC Partners had a net margin of 6.98% and a return on equity of 38.17%. The company had revenue of $551.20 million during the quarter, compared to the consensus estimate of $546.65 million. During the same quarter in the previous year, the business posted $0.30 EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts predict that BGC Partners, Inc. will post 0.63 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 10.02%. The ex-dividend date was Tuesday, August 13th. BGC Partners’s payout ratio is presently 77.78%.

BGCP has been the subject of several research reports. Zacks Investment Research upgraded shares of BGC Partners from a “sell” rating to a “hold” rating in a research note on Monday. BidaskClub upgraded shares of BGC Partners from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 12th.

About BGC Partners

BGC Partners, Inc operates as a brokerage and financial technology company worldwide. It offers various brokerage products, such as fixed income, foreign exchange, equities, energy and commodities, insurance, and futures. The company also provides other services that include trade execution, broker dealer, clearing, trade compression, post-trade, information, and other back office services to financial and non-financial institutions.

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Institutional Ownership by Quarter for BGC Partners (NASDAQ:BGCP)

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