Weiss Asset Management LP acquired a new position in shares of BGC Partners, Inc. (NASDAQ:BGCP) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 25,933 shares of the financial services provider’s stock, valued at approximately $138,000.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Optimum Investment Advisors purchased a new stake in BGC Partners in the first quarter worth about $27,000. Proficio Capital Partners LLC lifted its stake in BGC Partners by 41.3% in the fourth quarter. Proficio Capital Partners LLC now owns 6,394 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 1,869 shares during the period. Icon Wealth Partners LLC purchased a new stake in BGC Partners in the first quarter worth about $40,000. Enterprise Financial Services Corp raised its holdings in BGC Partners by 819.4% in the first quarter. Enterprise Financial Services Corp now owns 9,222 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 8,219 shares in the last quarter. Finally, Trinity Legacy Partners LLC bought a new position in BGC Partners in the first quarter worth about $58,000. 52.28% of the stock is owned by hedge funds and other institutional investors.
Shares of BGCP remained flat at $$5.46 during mid-day trading on Thursday. 873,700 shares of the stock traded hands, compared to its average volume of 2,203,852. BGC Partners, Inc. has a 12-month low of $4.46 and a 12-month high of $12.65. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.11 and a quick ratio of 1.09. The company has a market cap of $1.86 billion, a P/E ratio of 7.58 and a beta of 1.37. The firm has a fifty day moving average of $5.06.
A number of equities analysts have commented on BGCP shares. BidaskClub upgraded shares of Zebra Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 6th. Zacks Investment Research upgraded shares of DLH from a “sell” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $11.00.
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 is a recession?
Receive News & Ratings for BGC Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BGC Partners and related companies with MarketBeat.com's FREE daily email newsletter.