Zacks Investment Research Downgrades BGC Partners (NASDAQ:BGCP) to Sell

Zacks Investment Research lowered shares of BGC Partners (NASDAQ:BGCPGet Rating) from a hold rating to a sell rating in a research note released on Wednesday, Zacks.com reports.

According to Zacks, “BGC PARTNERS, INC. is a leading global full-service inter-dealer broker, specializing in the trading of financial instruments and related derivatives products. BGC Partners provides integrated voice, hybrid, and fully electronic execution and other brokerage services to some of the world’s largest and most credit worthy banks, broker-dealers, investment banks and investment firms for a broad range of global financial products, including fixed income securities, foreign exchange, equity derivatives, credit derivatives, futures, structured products and other instruments. Through its eSpeed and BGCantor Market Data brands, BGC also offers financial technology solutions and market data and analytics related to selected financial instruments and markets. Named after fixed income trading innovator B. Gerald Cantor, BGC Partners has offices in New York and London, as well as in Beijing, Chicago, Copenhagen, Hong Kong, Istanbul, Mexico City, Nyon, Paris, Seoul, Singapore, Sydney, Tokyo and Toronto. “

BGCP has been the topic of several other reports. StockNews.com cut shares of BGC Partners from a buy rating to a hold rating in a report on Tuesday. 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 target price on the stock.

Shares of NASDAQ BGCP opened at $3.82 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.59. BGC Partners has a one year low of $3.30 and a one year high of $6.51. The business has a 50-day moving average price of $4.20 and a two-hundred day moving average price of $4.52. The firm has a market capitalization of $1.40 billion, a PE ratio of 13.17 and a beta of 1.67.

BGC Partners (NASDAQ:BGCPGet Rating) last posted its quarterly earnings results on Monday, May 2nd. The financial services provider reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. BGC Partners had a net margin of 5.59% and a return on equity of 49.55%. During the same quarter in the previous year, the company earned $0.18 earnings per share. Research analysts anticipate that BGC Partners will post 0.72 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 2nd. Shareholders of record on Thursday, May 19th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Wednesday, May 18th. BGC Partners’s payout ratio is 13.79%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rubric Capital Management LP increased its holdings in shares of BGC Partners by 27.6% during the 4th quarter. Rubric Capital Management LP now owns 15,500,000 shares of the financial services provider’s stock valued at $72,075,000 after acquiring an additional 3,350,000 shares during the last quarter. Boussard & Gavaudan Investment Management LLP boosted its position in BGC Partners by 46.3% during the fourth quarter. Boussard & Gavaudan Investment Management LLP now owns 7,661,495 shares of the financial services provider’s stock worth $35,396,000 after purchasing an additional 2,425,216 shares during the period. State Street Corp grew its holdings in BGC Partners by 9.9% during the fourth quarter. State Street Corp now owns 7,639,150 shares of the financial services provider’s stock valued at $35,522,000 after purchasing an additional 690,387 shares during the last quarter. AltraVue Capital LLC raised its position in shares of BGC Partners by 31.4% in the fourth quarter. AltraVue Capital LLC now owns 5,705,060 shares of the financial services provider’s stock valued at $26,529,000 after purchasing an additional 1,362,370 shares during the period. Finally, FIL Ltd raised its position in shares of BGC Partners by 19.9% in the third quarter. FIL Ltd now owns 4,614,500 shares of the financial services provider’s stock valued at $24,042,000 after purchasing an additional 767,000 shares during the period. Institutional investors own 54.77% of the company’s stock.

BGC Partners Company Profile (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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