BGC Partners (NASDAQ:BGCP) Downgraded by StockNews.com

StockNews.com lowered shares of BGC Partners (NASDAQ:BGCPGet Rating) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Several other research firms have also commented on BGCP. Zacks Investment Research lowered BGC Partners from a buy rating to a hold rating in a research report on Tuesday, March 8th. Credit Suisse Group assumed coverage on BGC Partners in a research report on Tuesday, February 15th. They issued an outperform rating and a $7.00 price objective on the stock.

Shares of BGC Partners stock opened at $3.53 on Tuesday. BGC Partners has a twelve month low of $3.30 and a twelve month high of $6.51. The stock has a market capitalization of $1.30 billion, a P/E ratio of 10.70 and a beta of 1.67. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.59. The business’s fifty day moving average price is $4.21 and its 200 day moving average price is $4.52.

BGC Partners (NASDAQ:BGCPGet Rating) last issued its earnings results on Monday, May 2nd. The financial services provider reported $0.21 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.21. BGC Partners had a return on equity of 46.73% and a net margin of 6.27%. During the same period in the previous year, the company earned $0.18 EPS. As a group, sell-side analysts predict that BGC Partners will post 0.73 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 22nd. Shareholders of record on Tuesday, March 8th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Monday, March 7th. BGC Partners’s dividend payout ratio (DPR) is presently 12.12%.

A number of large investors have recently added to or reduced their stakes in BGCP. Spire Wealth Management purchased a new stake in shares of BGC Partners during the fourth quarter worth about $28,000. Eagle Bay Advisors LLC increased its position in shares of BGC Partners by 100.0% during the third quarter. Eagle Bay Advisors LLC now owns 6,000 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 3,000 shares during the last quarter. Sciencast Management LP purchased a new stake in shares of BGC Partners during the first quarter worth about $44,000. Sweet Financial Partners LLC purchased a new stake in shares of BGC Partners during the fourth quarter worth about $47,000. Finally, Profund Advisors LLC purchased a new stake in shares of BGC Partners during the fourth quarter worth about $50,000. 54.77% of the stock is currently owned by institutional investors.

About BGC Partners (Get Rating)

BGC Partners, Inc operates as a financial brokerage and technology company in the United States, France, other Europe, the United Kingdom, other Americas, Asia, Australia, Africa, and the Middle East. It offers various brokerage products, such as fixed income, such as government bonds, corporate bonds, and other debt instruments, as well as related interest rate derivatives and credit derivatives; and fixed income, equity derivatives and cash equities, energy and commodities, shipping, insurance, and futures and options.

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