Treasurer of the State of North Carolina Buys 6,100 Shares of BGC Partners, Inc. (NASDAQ:BGCP)

Treasurer of the State of North Carolina increased its stake in BGC Partners, Inc. (NASDAQ:BGCP) by 4.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,912 shares of the financial services provider’s stock after purchasing an additional 6,100 shares during the period. Treasurer of the State of North Carolina’s holdings in BGC Partners were worth $737,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Parametric Portfolio Associates LLC grew its holdings in BGC Partners by 33.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 1,880,669 shares of the financial services provider’s stock worth $9,986,000 after acquiring an additional 474,577 shares during the period. AJO LP acquired a new stake in BGC Partners during the 1st quarter worth $211,000. AlphaCrest Capital Management LLC acquired a new stake in BGC Partners during the 1st quarter worth $381,000. IMS Capital Management acquired a new stake in BGC Partners during the 1st quarter worth $178,000. Finally, Weiss Asset Management LP acquired a new stake in BGC Partners during the 1st quarter worth $138,000. Hedge funds and other institutional investors own 52.56% of the company’s stock.

A number of research firms have commented on BGCP. BidaskClub raised shares of BGC Partners from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 12th. ValuEngine raised shares of BGC Partners from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research raised shares of BGC Partners from a “sell” rating to a “hold” rating in a report on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $11.00.

Shares of BGCP stock opened at $5.49 on Friday. BGC Partners, Inc. has a 12-month low of $4.46 and a 12-month high of $11.43. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 7.62 and a beta of 1.44. The company has a quick ratio of 1.09, a current ratio of 1.11 and a debt-to-equity ratio of 1.25. The firm has a fifty day moving average of $5.36 and a 200-day moving average of $5.27.

BGC Partners (NASDAQ:BGCP) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). BGC Partners had a net margin of 6.98% and a return on equity of 38.17%. The firm had revenue of $551.20 million during the quarter, compared to analyst estimates of $546.65 million. During the same period last year, the firm earned $0.30 EPS. BGC Partners’s quarterly revenue was up 12.3% on a year-over-year basis. Research analysts expect that BGC Partners, Inc. will post 0.63 earnings per share for the current year.

BGC Partners Company Profile

BGC Partners, Inc operates as a brokerage and financial technology company worldwide. It offers various brokerage products, such as fixed income, foreign exchange, equities, energy and commodities, insurance, and futures. The company also provides other services that include trade execution, broker dealer, clearing, trade compression, post-trade, information, and other back office services to financial and non-financial institutions.

Further Reading: What are some reasons analysts would give stocks a buy rating?

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

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