Trade Report: The Brown Advisory Inc. invests in BGC Partners Inc. (BGCP) Shares

The Brown Advisory Inc. invests in BGC Partners Inc. (BGCP) Shares

Brown Advisory Inc. boosted its stake in shares of BGC Partners Inc. (NASDAQ:BGCP) by 4.8% during the second quarter, Holdings Channel reports. The institutional investor owned 33,630 shares of the company’s stock after buying an additional 1,540 shares during the period. Brown Advisory Inc.’s holdings in BGC Partners were worth $293,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in BGCP. BlackRock Inc. raised its position in BGC Partners by 138.1% in the first quarter. BlackRock Inc. now owns 12,083 shares of the company’s stock valued at $109,000 after buying an additional 7,008 shares during the period. Fox Run Management L.L.C. bought a new position in BGC Partners during the second quarter valued at approximately $123,000. Menta Capital LLC bought a new position in BGC Partners during the first quarter valued at approximately $126,000. BLB&B Advisors LLC raised its position in BGC Partners by 46.3% in the second quarter. BLB&B Advisors LLC now owns 14,910 shares of the company’s stock valued at $130,000 after buying an additional 4,720 shares during the period. Finally, IMS Capital Management raised its position in BGC Partners by 0.3% in the second quarter. IMS Capital Management now owns 16,022 shares of the company’s stock valued at $140,000 after buying an additional 52 shares during the period. 38.79% of the stock is owned by hedge funds and other institutional investors.

Shares of BGC Partners Inc. (NASDAQ:BGCP) traded up 0.23% during trading on Wednesday, hitting $8.58. The stock had a trading volume of 75,314 shares. BGC Partners Inc. has a one year low of $8.12 and a one year high of $9.90. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 17.76 and a beta of 1.33. The stock’s 50-day moving average price is $8.84 and its 200 day moving average price is $8.95.

BGC Partners (NASDAQ:BGCP) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.19. BGC Partners had a net margin of 5.01% and a return on equity of 24.31%. The company earned $652 million during the quarter, compared to analysts’ expectations of $665.70 million. During the same period in the prior year, the company earned $0.18 earnings per share. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities analysts forecast that BGC Partners Inc. will post $0.84 EPS for the current year.

Separately, Zacks Investment Research upgraded BGC Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, August 30th.

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.

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