BGC Partners, Inc. (NASDAQ:BGCP) Sees Large Decline in Short Interest

BGC Partners, Inc. (NASDAQ:BGCPGet Rating) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 5,630,000 shares, a decrease of 9.9% from the August 15th total of 6,250,000 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average daily trading volume, of 1,690,000 shares, the days-to-cover ratio is presently 3.3 days.

Analyst Upgrades and Downgrades

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

BGC Partners Trading Down 2.0 %

NASDAQ BGCP opened at $3.98 on Wednesday. The stock has a market capitalization of $1.49 billion, a P/E ratio of 14.21 and a beta of 1.47. The business has a 50 day simple moving average of $3.97 and a 200 day simple moving average of $3.80. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.14 and a quick ratio of 1.14. BGC Partners has a one year low of $3.00 and a one year high of $5.64.

BGC Partners (NASDAQ:BGCPGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. BGC Partners had a return on equity of 49.77% and a net margin of 5.63%. During the same quarter in the previous year, the business posted $0.16 EPS. Research analysts expect that BGC Partners will post 0.68 earnings per share for the current year.

BGC Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Monday, August 22nd. BGC Partners’s dividend payout ratio (DPR) is currently 14.29%.

Hedge Funds Weigh In On BGC Partners

Several institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its position in BGC Partners by 8.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 53,313 shares of the financial services provider’s stock valued at $248,000 after buying an additional 4,178 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of BGC Partners by 18.8% during the fourth quarter. Bank of America Corp DE now owns 505,123 shares of the financial services provider’s stock valued at $2,348,000 after acquiring an additional 79,975 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of BGC Partners by 13.9% during the fourth quarter. BNP Paribas Arbitrage SA now owns 148,724 shares of the financial services provider’s stock valued at $692,000 after acquiring an additional 18,134 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of BGC Partners by 26.7% during the fourth quarter. Teacher Retirement System of Texas now owns 59,319 shares of the financial services provider’s stock worth $276,000 after purchasing an additional 12,509 shares during the period. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of BGC Partners by 25.7% in the 4th quarter. Qube Research & Technologies Ltd now owns 102,684 shares of the financial services provider’s stock worth $477,000 after purchasing an additional 20,972 shares in the last quarter. Institutional investors and hedge funds own 55.49% 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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