UBS Asset Management Americas Inc. cut its position in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 4.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 312,114 shares of the financial services provider’s stock after selling 14,259 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.09% of BGC Partners worth $1,632,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in BGCP. Tower Research Capital LLC TRC acquired a new stake in BGC Partners during the second quarter worth about $25,000. Rockefeller Capital Management L.P. acquired a new stake in BGC Partners during the second quarter worth about $27,000. Riverhead Capital Management LLC acquired a new stake in shares of BGC Partners in the second quarter valued at about $28,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of BGC Partners in the second quarter valued at about $33,000. Finally, Enterprise Financial Services Corp grew its stake in shares of BGC Partners by 21.4% in the second quarter. Enterprise Financial Services Corp now owns 11,195 shares of the financial services provider’s stock valued at $59,000 after buying an additional 1,973 shares in the last quarter. Institutional investors own 52.56% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. BidaskClub upgraded BGC Partners from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 12th. Zacks Investment Research upgraded BGC Partners from a “sell” rating to a “hold” rating in a research note on Monday, September 23rd. Finally, ValuEngine upgraded BGC Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and two have issued a strong buy rating to the company. BGC Partners currently has an average rating of “Buy” and a consensus price target of $11.00.
BGC Partners (NASDAQ:BGCP) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $546.65 million. During the same quarter last year, the business posted $0.30 EPS. BGC Partners’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts predict that BGC Partners, Inc. will post 0.63 EPS for the current year.
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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