Shikiar Asset Management Inc. lessened its holdings in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 553,750 shares of the financial services provider’s stock after selling 19,700 shares during the quarter. BGC Partners makes up about 1.2% of Shikiar Asset Management Inc.’s portfolio, making the stock its 24th biggest holding. Shikiar Asset Management Inc. owned approximately 0.16% of BGC Partners worth $2,940,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Proficio Capital Partners LLC raised its holdings in BGC Partners by 41.3% in the 4th quarter. Proficio Capital Partners LLC now owns 6,394 shares of the financial services provider’s stock valued at $33,000 after buying an additional 1,869 shares during the period. Enterprise Financial Services Corp increased its stake in BGC Partners by 819.4% during the first quarter. Enterprise Financial Services Corp now owns 9,222 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 8,219 shares during the period. Graves Light Private Wealth Management Inc. purchased a new stake in BGC Partners during the fourth quarter worth about $52,000. Trinity Legacy Partners LLC purchased a new stake in BGC Partners during the first quarter worth about $58,000. Finally, PNC Financial Services Group Inc. increased its stake in BGC Partners by 21.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,474 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 2,053 shares during the period. 52.51% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on the stock. Zacks Investment Research upgraded shares of BGC Partners from a “sell” rating to a “hold” rating in a research note on Wednesday. BidaskClub lowered shares of BGC Partners from a “sell” rating to a “strong sell” rating in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.00.
BGCP traded up $0.14 on Friday, reaching $4.79. The company’s stock had a trading volume of 1,698,611 shares, compared to its average volume of 2,299,198. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 6.65 and a beta of 1.33. BGC Partners, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $12.85. The company has a quick ratio of 1.09, a current ratio of 1.11 and a debt-to-equity ratio of 1.15.
BGC Partners (NASDAQ:BGCP) last posted its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $0.18 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. BGC Partners had a return on equity of 36.39% and a net margin of 6.74%. The business had revenue of $544.80 million during the quarter, compared to the consensus estimate of $535.25 million. During the same period in the prior year, the company earned $0.32 earnings per share. The company’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts anticipate that BGC Partners, Inc. will post 0.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 24th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 11.69%. The ex-dividend date is Thursday, May 23rd. BGC Partners’s dividend payout ratio (DPR) is presently 77.78%.
In other news, Director Linda A. Bell sold 17,887 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $5.70, for a total transaction of $101,955.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 32.80% of the stock is owned by corporate insiders.
BGC Partners Company Profile
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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