BGC Partners (NASDAQ:BGCP) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of BGC Partners (NASDAQ:BGCP) from a hold rating to a sell rating in a report released on Tuesday morning, Zacks.com reports.

According to Zacks, “BGC PARTNERS, INC. is a leading global full-service inter-dealer broker, specializing in the trading of financial instruments and related derivatives products. BGC Partners provides integrated voice, hybrid, and fully electronic execution and other brokerage services to some of the world’s largest and most credit worthy banks, broker-dealers, investment banks and investment firms for a broad range of global financial products, including fixed income securities, foreign exchange, equity derivatives, credit derivatives, futures, structured products and other instruments. Through its eSpeed and BGCantor Market Data brands, BGC also offers financial technology solutions and market data and analytics related to selected financial instruments and markets. Named after fixed income trading innovator B. Gerald Cantor, BGC Partners has offices in New York and London, as well as in Beijing, Chicago, Copenhagen, Hong Kong, Istanbul, Mexico City, Nyon, Paris, Seoul, Singapore, Sydney, Tokyo and Toronto. “

Several other equities analysts have also recently weighed in on BGCP. ValuEngine raised shares of BGC Partners from a sell rating to a hold rating in a research report on Wednesday, January 8th. BidaskClub cut shares of BGC Partners from a buy rating to a hold rating in a research report on Friday, February 7th.

Shares of BGCP stock traded down $0.05 on Tuesday, reaching $5.38. 55,282 shares of the company were exchanged, compared to its average volume of 2,208,817. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 35.40 and a beta of 1.39. The company has a 50-day moving average of $5.79 and a 200-day moving average of $5.56. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.08 and a quick ratio of 1.08. BGC Partners has a one year low of $4.46 and a one year high of $6.41.

BGC Partners (NASDAQ:BGCP) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.01. BGC Partners had a net margin of 2.65% and a return on equity of 34.44%. The company had revenue of $487.20 million for the quarter, compared to analysts’ expectations of $476.00 million. During the same quarter in the prior year, the firm earned $0.14 EPS. The business’s revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts predict that BGC Partners will post 0.62 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 26th will be given a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $0.56 annualized dividend and a yield of 10.41%. BGC Partners’s payout ratio is 91.80%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ellington Management Group LLC bought a new position in BGC Partners in the 4th quarter valued at about $251,000. UBS Asset Management Americas Inc. lifted its position in BGC Partners by 4.0% in the 4th quarter. UBS Asset Management Americas Inc. now owns 367,724 shares of the financial services provider’s stock valued at $2,184,000 after acquiring an additional 14,116 shares in the last quarter. Bank of New York Mellon Corp lifted its position in BGC Partners by 20.1% in the 4th quarter. Bank of New York Mellon Corp now owns 3,317,885 shares of the financial services provider’s stock valued at $19,708,000 after acquiring an additional 555,802 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in BGC Partners by 49.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 3,031,639 shares of the financial services provider’s stock valued at $18,008,000 after acquiring an additional 1,006,951 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in BGC Partners by 261.0% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 26,556 shares of the financial services provider’s stock valued at $158,000 after acquiring an additional 19,200 shares in the last quarter. 53.52% of the stock is currently owned by institutional investors and hedge funds.

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.

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