BGC Partners, Inc. (NASDAQ:BGCP) Short Interest Down 9.9% in August

BGC Partners, Inc. (NASDAQ:BGCPGet Rating) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 5,630,000 shares, a decline of 9.9% from the August 15th total of 6,250,000 shares. Based on an average daily volume of 1,690,000 shares, the short-interest ratio is currently 3.3 days. Approximately 1.9% of the shares of the stock are sold short.

Hedge Funds Weigh In On BGC Partners

Several large investors have recently bought and sold shares of BGCP. Verition Fund Management LLC acquired a new position in shares of BGC Partners in the second quarter valued at approximately $4,298,000. Legal & General Group Plc grew its holdings in BGC Partners by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 264,338 shares of the financial services provider’s stock worth $891,000 after acquiring an additional 2,925 shares during the last quarter. Walleye Capital LLC acquired a new position in BGC Partners in the 2nd quarter valued at approximately $307,000. Goldman Sachs Group Inc. raised its stake in shares of BGC Partners by 290.3% during the second quarter. Goldman Sachs Group Inc. now owns 1,915,897 shares of the financial services provider’s stock valued at $6,456,000 after acquiring an additional 1,425,003 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of BGC Partners by 26.9% during the second quarter. Prudential Financial Inc. now owns 296,840 shares of the financial services provider’s stock valued at $1,015,000 after acquiring an additional 63,001 shares during the last quarter. 55.49% of the stock is currently owned by institutional investors.

BGC Partners Trading Down 2.0 %

Shares of BGC Partners stock opened at $3.98 on Wednesday. The firm’s 50 day moving average is $3.97 and its 200 day moving average is $3.80. The firm has a market capitalization of $1.49 billion, a PE ratio of 14.21 and a beta of 1.47. BGC Partners has a 1 year low of $3.00 and a 1 year high of $5.64. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.44.

BGC Partners (NASDAQ:BGCPGet Rating) last issued its earnings results on Wednesday, August 3rd. The financial services provider reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. BGC Partners had a net margin of 5.63% and a return on equity of 49.77%. During the same period last year, the company earned $0.16 EPS. Equities research analysts forecast that BGC Partners will post 0.68 earnings per share for the current fiscal year.

BGC Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd were issued a $0.01 dividend. The ex-dividend date was Monday, August 22nd. This represents a $0.04 dividend on an annualized basis and a yield of 1.01%. BGC Partners’s payout ratio is presently 14.29%.

Analysts Set New Price Targets

Separately, upgraded BGC Partners from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st.

BGC Partners Company Profile

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BGC Partners, Inc operates as a financial brokerage and technology company in the United States, France, other Europe, the United Kingdom, other Americas, Asia, Australia, Africa, and the Middle East. It offers various brokerage products, such as fixed income, such as government bonds, corporate bonds, and other debt instruments, as well as related interest rate derivatives and credit derivatives; and fixed income, equity derivatives and cash equities, energy and commodities, shipping, insurance, and futures and options.

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