Arizona State Retirement System Reduces Stock Holdings in BGC Partners, Inc. (NASDAQ:BGCP)

Arizona State Retirement System lowered its position in BGC Partners, Inc. (NASDAQ:BGCPGet Rating) by 4.5% in the first quarter, HoldingsChannel reports. The firm owned 78,545 shares of the financial services provider’s stock after selling 3,741 shares during the period. Arizona State Retirement System’s holdings in BGC Partners were worth $346,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BGCP. Envestnet Asset Management Inc. boosted its stake in BGC Partners by 8.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 53,313 shares of the financial services provider’s stock worth $248,000 after buying an additional 4,178 shares during the period. Formidable Asset Management LLC boosted its stake in BGC Partners by 25.7% during the fourth quarter. Formidable Asset Management LLC now owns 23,750 shares of the financial services provider’s stock worth $109,000 after buying an additional 4,850 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in BGC Partners by 1.6% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 433,397 shares of the financial services provider’s stock worth $2,015,000 after buying an additional 6,773 shares during the period. Sweet Financial Partners LLC purchased a new position in BGC Partners during the fourth quarter worth about $47,000. Finally, Sciencast Management LP purchased a new position in BGC Partners during the first quarter worth about $44,000. Hedge funds and other institutional investors own 54.77% of the company’s stock.

BGC Partners Trading Up 9.1 %

NASDAQ BGCP opened at $3.97 on Thursday. The firm has a 50 day simple moving average of $3.45 and a 200-day simple moving average of $3.87. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.14 and a current ratio of 1.14. BGC Partners, Inc. has a one year low of $3.00 and a one year high of $5.86. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 13.69 and a beta of 1.53.

BGC Partners (NASDAQ:BGCPGet Rating) last posted its quarterly earnings data on Monday, May 2nd. The financial services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). BGC Partners had a net margin of 5.59% and a return on equity of 49.15%. The business had revenue of $506.46 million during the quarter, compared to analysts’ expectations of $519.95 million. During the same period in the previous year, the business posted $0.18 EPS. Equities research analysts anticipate that BGC Partners, Inc. will post 0.73 EPS for the current fiscal year.

BGC Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Monday, August 22nd. BGC Partners’s payout ratio is 13.79%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of BGC Partners from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st.

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

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