Concert Wealth Management Inc. continued to hold its stake in BGC Partners Inc. (NASDAQ:BGCP) during the second quarter, Holdings Channel reports. The institutional investor owned 30,928 shares of the company’s stock at the end of the second quarter. Concert Wealth Management Inc.’s holdings in BGC Partners were worth $267,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Northpointe Capital LLC raised its stake in BGC Partners by 19.6% in the second quarter. Northpointe Capital LLC now owns 1,411,631 shares of the company’s stock worth $12,295,000 after buying an additional 231,134 shares in the last quarter. Menta Capital LLC acquired a new stake in shares of BGC Partners during the first quarter valued at $126,000. Fox Run Management L.L.C. acquired a new stake in shares of BGC Partners during the second quarter valued at $123,000. Granahan Investment Management Inc. MA raised its stake in shares of BGC Partners by 16.4% in the first quarter. Granahan Investment Management Inc. MA now owns 815,400 shares of the company’s stock valued at $7,379,000 after buying an additional 115,100 shares during the period. Finally, BlackRock Group LTD raised its stake in shares of BGC Partners by 14.5% in the first quarter. BlackRock Group LTD now owns 216,067 shares of the company’s stock valued at $1,955,000 after buying an additional 27,376 shares during the period. 38.79% of the stock is currently owned by institutional investors.
Shares of BGC Partners Inc. (NASDAQ:BGCP) traded up 1.49% during midday trading on Friday, hitting $8.88. The stock had a trading volume of 906,331 shares. The stock has a 50 day moving average of $8.88 and a 200-day moving average of $8.94. The company has a market cap of $2.46 billion, a P/E ratio of 18.39 and a beta of 1.33. BGC Partners Inc. has a one year low of $8.18 and a one year high of $9.90.
BGC Partners (NASDAQ:BGCP) last posted 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 return on equity of 24.31% and a net margin of 5.01%. The firm earned $652 million during the quarter, compared to the consensus estimate of $665.70 million. During the same quarter in the previous year, the business earned $0.18 earnings per share. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. Analysts forecast that BGC Partners Inc. will post $0.84 EPS for the current fiscal year.
Separately, Zacks Investment Research raised BGC Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, August 30th.
About BGC Partners
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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