Raymond James & Associates Sells 50,835 Shares of BGC Partners, Inc. (NASDAQ:BGCP)

Raymond James & Associates cut its position in shares of BGC Partners, Inc. (NASDAQ:BGCPGet Rating) by 8.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 585,907 shares of the financial services provider’s stock after selling 50,835 shares during the period. Raymond James & Associates owned about 0.16% of BGC Partners worth $1,840,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of BGC Partners by 0.9% in the first quarter. Vanguard Group Inc. now owns 30,064,994 shares of the financial services provider’s stock valued at $132,286,000 after acquiring an additional 269,900 shares in the last quarter. AltraVue Capital LLC lifted its position in shares of BGC Partners by 12.0% in the 2nd quarter. AltraVue Capital LLC now owns 8,427,920 shares of the financial services provider’s stock worth $28,402,000 after purchasing an additional 903,400 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of BGC Partners by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,385,538 shares of the financial services provider’s stock valued at $19,297,000 after purchasing an additional 38,336 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in BGC Partners by 4.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,578,020 shares of the financial services provider’s stock valued at $15,744,000 after buying an additional 139,101 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in BGC Partners by 73.7% in the first quarter. JPMorgan Chase & Co. now owns 3,275,777 shares of the financial services provider’s stock worth $14,414,000 after buying an additional 1,389,908 shares in the last quarter. 55.49% of the stock is currently owned by hedge funds and other institutional investors.

BGC Partners Stock Performance

Shares of BGC Partners stock opened at $4.24 on Tuesday. The company has a market capitalization of $1.57 billion, a PE ratio of 13.25 and a beta of 1.58. The company has a 50-day simple moving average of $4.07 and a two-hundred day simple moving average of $3.94. BGC Partners, Inc. has a one year low of $3.00 and a one year high of $4.79. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.15 and a current ratio of 1.15.

BGC Partners (NASDAQ:BGCPGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The financial services provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.15 by $0.01. The firm had revenue of $416.57 million during the quarter, compared to analyst estimates of $409.00 million. BGC Partners had a net margin of 6.75% and a return on equity of 49.74%. Research analysts expect that BGC Partners, Inc. will post 0.68 EPS for the current fiscal year.

BGC Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 6th. Investors of record on Tuesday, November 22nd were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, November 21st. This represents a $0.04 annualized dividend and a yield of 0.94%. BGC Partners’s dividend payout ratio (DPR) is 12.50%.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on BGC Partners in a research report on Wednesday, October 12th. They set a “buy” rating on the stock.

BGC Partners Profile

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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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