Goldman Sachs Group Inc. grew its position in BGC Partners, Inc. (NASDAQ:BGCP) by 70.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,847,509 shares of the financial services provider’s stock after acquiring an additional 1,594,437 shares during the quarter. Goldman Sachs Group Inc. owned about 1.33% of BGC Partners worth $58,136,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Assetmark Inc. raised its stake in shares of BGC Partners by 270.2% in the fourth quarter. Assetmark Inc. now owns 6,912 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 5,045 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in shares of BGC Partners in the third quarter worth about $114,000. B. Riley Financial Inc. bought a new position in shares of BGC Partners in the third quarter worth about $153,000. Cornerstone Wealth Management LLC bought a new position in shares of BGC Partners in the fourth quarter worth about $153,000. Finally, Stone Ridge Asset Management LLC bought a new position in shares of BGC Partners in the fourth quarter worth about $190,000. 44.27% of the stock is currently owned by institutional investors and hedge funds.
BGC Partners, Inc. (BGCP) opened at $13.91 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 1.45. The company has a market cap of $4,259.81, a PE ratio of 12.53 and a beta of 1.10. BGC Partners, Inc. has a 1-year low of $10.39 and a 1-year high of $16.97.
BGC Partners (NASDAQ:BGCP) last posted its quarterly earnings results on Friday, February 9th. The financial services provider reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.07. The firm had revenue of $894.23 million for the quarter, compared to analysts’ expectations of $853.00 million. BGC Partners had a net margin of 0.05% and a return on equity of 47.22%. During the same period in the prior year, the business posted $0.25 earnings per share. research analysts predict that BGC Partners, Inc. will post 1.42 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 13th. Shareholders of record on Tuesday, February 27th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 5.18%. The ex-dividend date was Monday, February 26th.
A number of research analysts have recently commented on BGCP shares. BGC Financial upgraded shares of BGC Partners from a “hold” rating to a “buy” rating in a report on Tuesday, February 13th. BidaskClub cut shares of BGC Partners from a “strong-buy” rating to a “buy” rating in a report on Friday, December 15th. TheStreet cut shares of BGC Partners from a “b” rating to a “c+” rating in a report on Monday, February 12th. Finally, ValuEngine cut shares of BGC Partners from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $18.00.
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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.
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