BNP Paribas Arbitrage SA cut its position in BGC Partners Inc. (NASDAQ:BGCP) by 1.5% during the third quarter, Holdings Channel reports. The fund owned 19,925 shares of the company’s stock after selling 303 shares during the period. BNP Paribas Arbitrage SA’s holdings in BGC Partners were worth $174,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. A.R.T. Advisors LLC bought a new stake in shares of BGC Partners during the second quarter worth approximately $108,000. BlackRock Inc. increased its position in shares of BGC Partners by 138.1% in the first quarter. BlackRock Inc. now owns 12,083 shares of the company’s stock worth $109,000 after buying an additional 7,008 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of BGC Partners during the second quarter worth about $123,000. Menta Capital LLC acquired a new position in shares of BGC Partners during the first quarter worth about $126,000. Finally, Nuveen Asset Management LLC increased its position in shares of BGC Partners by 16.1% in the second quarter. Nuveen Asset Management LLC now owns 14,411 shares of the company’s stock worth $126,000 after buying an additional 1,998 shares in the last quarter. Hedge funds and other institutional investors own 38.79% of the company’s stock.
BGC Partners Inc. (NASDAQ:BGCP) opened at 8.90 on Friday. BGC Partners Inc. has a 12 month low of $8.15 and a 12 month high of $9.90. The firm’s 50-day moving average price is $8.84 and its 200-day moving average price is $8.95. The stock has a market cap of $2.46 billion, a P/E ratio of 18.43 and a beta of 1.33.
BGC Partners (NASDAQ:BGCP) last posted its earnings results on Thursday, July 28th. The company reported $0.19 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.19. BGC Partners had a return on equity of 24.31% and a net margin of 5.01%. The business had revenue of $652 million for the quarter, compared to analysts’ expectations of $665.70 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The business’s revenue was down 2.5% compared to the same quarter last year. On average, analysts predict that BGC Partners Inc. will post $0.84 earnings per share for the current year.
Separately, Zacks Investment Research downgraded BGC Partners from a “hold” rating to a “strong sell” rating in a research report on Friday, July 1st.
BGC Partners Company Profile
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. The Company provides a range of services, including trade execution, broker-dealer services, clearing, processing, information, and other back-office services to a range of financial and non-financial institutions.