USA Financial Portformulas Corp Buys New Stake in BGC Partners, Inc. (BGCP)

USA Financial Portformulas Corp bought a new position in shares of BGC Partners, Inc. (NASDAQ:BGCP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 48,878 shares of the financial services provider’s stock, valued at approximately $618,000.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in BGC Partners by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 18,619,070 shares of the financial services provider’s stock worth $235,346,000 after purchasing an additional 308,977 shares during the last quarter. BlackRock Inc. grew its position in BGC Partners by 66,726.9% during the 1st quarter. BlackRock Inc. now owns 14,384,491 shares of the financial services provider’s stock worth $163,409,000 after purchasing an additional 14,362,966 shares during the last quarter. Principal Financial Group Inc. grew its position in BGC Partners by 247.8% during the 2nd quarter. Principal Financial Group Inc. now owns 7,921,620 shares of the financial services provider’s stock worth $100,129,000 after purchasing an additional 5,643,875 shares during the last quarter. Dimensional Fund Advisors LP grew its position in BGC Partners by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,885,913 shares of the financial services provider’s stock worth $87,037,000 after purchasing an additional 518,058 shares during the last quarter. Finally, State Street Corp grew its position in BGC Partners by 2.4% during the 1st quarter. State Street Corp now owns 4,409,057 shares of the financial services provider’s stock worth $50,085,000 after purchasing an additional 102,825 shares during the last quarter. 42.26% of the stock is currently owned by institutional investors.

WARNING: “USA Financial Portformulas Corp Buys New Stake in BGC Partners, Inc. (BGCP)” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another website, it was illegally stolen and reposted in violation of US & international copyright law. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/18/usa-financial-portformulas-corp-buys-new-stake-in-bgc-partners-inc-bgcp.html.

Several research firms have weighed in on BGCP. BidaskClub raised shares of BGC Partners from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. ValuEngine raised shares of BGC Partners from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research raised shares of BGC Partners from a “hold” rating to a “strong-buy” rating and set a $18.00 target price on the stock in a research report on Wednesday, October 4th.

In other BGC Partners news, Director Linda A. Bell sold 13,650 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $14.70, for a total value of $200,655.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 37.40% of the company’s stock.

BGC Partners, Inc. (NASDAQ BGCP) traded up 0.56% during mid-day trading on Wednesday, reaching $16.03. 491,853 shares of the company’s stock traded hands. The stock has a market capitalization of $4.53 billion, a PE ratio of 44.04 and a beta of 1.31. BGC Partners, Inc. has a 52 week low of $8.36 and a 52 week high of $16.51. The stock’s 50 day moving average is $14.03 and its 200-day moving average is $12.55.

BGC Partners (NASDAQ:BGCP) last announced its quarterly earn

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in BGC Partners by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 18,619,070 shares of the financial services provider’s stock worth $235,346,000 after purchasing an additional 308,977 shares during the last quarter. BlackRock Inc. grew its position in BGC Partners by 66,726.9% during the 1st quarter. BlackRock Inc. now owns 14,384,491 shares of the financial services provider’s stock worth $163,409,000 after purchasing an additional 14,362,966 shares during the last quarter. Principal Financial Group Inc. grew its position in BGC Partners by 247.8% during the 2nd quarter. Principal Financial Group Inc. now owns 7,921,620 shares of the financial services provider’s stock worth $100,129,000 after purchasing an additional 5,643,875 shares during the last quarter. Dimensional Fund Advisors LP grew its position in BGC Partners by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,885,913 shares of the financial services provider’s stock worth $87,037,000 after purchasing an additional 518,058 shares during the last quarter. Finally, State Street Corp grew its position in BGC Partners by 2.4% during the 1st quarter. State Street Corp now owns 4,409,057 shares of the financial services provider’s stock worth $50,085,000 after purchasing an additional 102,825 shares during the last quarter. 42.26% of the stock is currently owned by institutional investors.

WARNING: “USA Financial Portformulas Corp Buys New Stake in BGC Partners, Inc. (BGCP)” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another website, it was illegally stolen and reposted in violation of US & international copyright law. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/18/usa-financial-portformulas-corp-buys-new-stake-in-bgc-partners-inc-bgcp.html.

Several research firms have weighed in on BGCP. BidaskClub raised shares of BGC Partners from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. ValuEngine raised shares of BGC Partners from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research raised shares of BGC Partners from a “hold” rating to a “strong-buy” rating and set a $18.00 target price on the stock in a research report on Wednesday, October 4th.

In other BGC Partners news, Director Linda A. Bell sold 13,650 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $14.70, for a total value of $200,655.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 37.40% of the company’s stock.

BGC Partners, Inc. (NASDAQ BGCP) traded up 0.56% during mid-day trading on Wednesday, reaching $16.03. 491,853 shares of the company’s stock traded hands. The stock has a market capitalization of $4.53 billion, a PE ratio of 44.04 and a beta of 1.31. BGC Partners, Inc. has a 52 week low of $8.36 and a 52 week high of $16.51. The stock’s 50 day moving average is $14.03 and its 200-day moving average is $12.55.

BGC Partners (NASDAQ:BGCP) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.24 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.24. The company had revenue of $737.80 million for the quarter, compared to analyst estimates of $716.00 million. BGC Partners had a net margin of 4.23% and a return on equity of 35.60%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 earnings per share. On average, equities analysts anticipate that BGC Partners, Inc. will post $1.06 EPS for the current year.

About BGC Partners

BGC Partners, Inc (BGC) is a global brokerage company servicing the financial and real estate markets. The Company operates through two segments: Financial Services and Real Estate Services. It provides a range of services, including trade execution, broker-dealer services clearing, trade compression, post trade, information, and other back-office services to a range of financial and non-financial institutions.

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

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