Cubist Systematic Strategies LLC Grows Position in BGC Partners, Inc. (NASDAQ:BGCP)

Cubist Systematic Strategies LLC lifted its stake in BGC Partners, Inc. (NASDAQ:BGCP – Get Rating) by 120.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 315,979 shares of the financial services provider’s stock after buying an additional 172,813 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in BGC Partners were worth $992,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Legal & General Group Plc lifted its holdings in shares of BGC Partners by 1.1% in the second quarter. Legal & General Group Plc now owns 264,338 shares of the financial services provider’s stock worth $891,000 after buying an additional 2,925 shares in the last quarter. Metropolitan Life Insurance Co NY increased its position in BGC Partners by 20.3% in the third quarter. Metropolitan Life Insurance Co NY now owns 19,314 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 3,264 shares during the last quarter. Arizona State Retirement System increased its position in BGC Partners by 4.1% in the third quarter. Arizona State Retirement System now owns 84,931 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 3,313 shares during the last quarter. Nisa Investment Advisors LLC increased its position in BGC Partners by 17.9% in the second quarter. Nisa Investment Advisors LLC now owns 22,500 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 3,420 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in BGC Partners by 17.8% in the second quarter. Mackenzie Financial Corp now owns 26,824 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 4,057 shares during the last quarter. Hedge funds and other institutional investors own 55.49% of the company’s stock.

BGC Partners Trading Up 0.2 %

Shares of BGCP opened at $5.13 on Thursday. The company’s fifty day moving average is $4.34 and its 200 day moving average is $4.08. BGC Partners, Inc. has a fifty-two week low of $3.00 and a fifty-two week high of $5.28. The stock has a market capitalization of $1.90 billion, a PE ratio of 39.46 and a beta of 1.61. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.31 and a current ratio of 1.34.

BGC Partners (NASDAQ:BGCP – Get Rating) last announced its quarterly earnings results on Monday, February 27th. The financial services provider reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. BGC Partners had a net margin of 2.71% and a return on equity of 47.25%. The company had revenue of $436.52 million for the quarter, compared to analysts’ expectations of $427.70 million. During the same quarter in the previous year, the business posted $0.17 earnings per share. Sell-side analysts expect that BGC Partners, Inc. will post 0.87 earnings per share for the current fiscal year.

BGC Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Thursday, March 16th. BGC Partners’s dividend payout ratio (DPR) is 30.77%.

Wall Street Analysts Forecast Growth

Separately, Credit Suisse Group boosted their price target on shares of BGC Partners from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 28th.

BGC Partners Company Profile

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BGC Partners, Inc engages in the provision of brokerage services to the financial markets. The firm offers integrated voice, hybrid and fully electronic brokerage in a broad range of products, including fixed income, foreign exchange, equities, insurance, energy and commodities and futures. It also provides trade execution, brokerage, clearing, trade compression, post-trade, information and other back-office services.