In yesterday’s Wall Street session, BGC Partners Inc. (NASDAQ:BGCP) shares traded at $4.60, down -3.16% from the previous session.
As of this writing, 1 analysts cover BGC Partners Inc. (NASDAQ:BGCP). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $8.50 and a low of $8.50, we find $8.50. Given the previous closing price of $4.75, this indicates a potential upside of 78.95 percent. BGCP stock price is now -0.74% away from the 50-day moving average and 8.66% away from the 200-day moving average. The market capitalization of the company currently stands at $1.76B.
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There are 0 analysts who have given it a hold rating, whereas 1 have given it a buy rating. Brokers who have rated the stock have averaged $8.50 as their price target over the next twelve months.
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Insiders disposed of 21,786 shares of company stock worth roughly $0.1 million over the past 1 year. A total of 9.68% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BGCP stock. A new stake in BGC Partners Inc. shares was purchased by ONE FIN CAPITAL MANAGEMENT LP during the first quarter worth $5,980,000. BRIDGEWATER ASSOCIATES, LP invested $2,843,000 in shares of BGCP during the first quarter. In the first quarter, ROBECO INSTITUTIONAL ASSET MANAGEMENT B.V. acquired a new stake in BGC Partners Inc. valued at approximately $2,300,000. CASTLEKNIGHT MANAGEMENT LP acquired a new stake in BGCP for approximately $1,166,000. DIAMETRIC CAPITAL, LP purchased a new stake in BGCP valued at around $1,013,000 in the second quarter. In total, there are 292 active investors with 67.80% ownership of the company’s stock.
Tuesday morning saw BGC Partners Inc. (NASDAQ: BGCP) opened at $4.7300. During the past 12 months, BGC Partners Inc. has had a low of $3.00 and a high of $5.51. According to the stock market information, the enterprise value for the company is $2.44B, which is based on a 42.59 price-to-earnings ratio, a 2.08 price-to-earnings-growth ratio, and a beta of 1.70. The fifty day moving average price for BGCP is $4.6276 and a two-hundred day moving average price translates $4.2360 for the stock.
The latest earnings results from BGC Partners Inc. (NASDAQ: BGCP) was released for Mar, 2023. According to the Capital Markets Company, earnings per share came in at $0.23, inline with analysts’ expectations of $0.23. This compares to $0.07 EPS in the same period last year. The net profit margin was 6.70% and return on equity was 18.40% for BGCP. The company reported revenue of $532.87 million for the quarter, compared to $506.46 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.21 percent. For the current quarter, analysts expect BGCP to generate $476M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 05/31/2023. Investors who held shares on 05/17/2023 were paid a $0.01 dividend. On an annualized basis, this represents a $0.04 dividend and a 0.87% percent yield. There was an ex-dividend date of 05/16/2023 for this dividend. In terms of dividend payout ratio, BGCP is presently at 12.10%.
BGC Partners Inc.(BGCP) Company Profile
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. The company 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. It also provides trade execution, brokerage, clearing, trade compression, post-trade, information, consulting, and other back-office services to financial and non-financial institutions. In addition, the company offers electronic and hybrid brokerage, other financial technology solutions, market data and related information services, and analytics related to financial instrument and markets under the BGC, BGC Partners, BGC Trader, GFI, GFI Ginga, CreditMatch, Fenics, Fenics.com, FMX, Sunrise Brokers, Poten & Partners, RP Martin, kACE2, Capitalab, Swaptioniser, CBID, and Lucera brand names. Further, it provides screen-based market solutions, which enable its clients to develop a marketplace, trade with their customers, issue debt, trade odd lots, access program trading interfaces, and access its network and intellectual property; and option pricing and analysis tools. Additionally, the company offers LumeFX, a distributed FX platform with managed infrastructure and software stack; LumeMarkets, a multi-asset class aggregation platform, Connect, a global SDN for rapid provisioning of connectivity to counter-parties, and Compute, an on-demand, co-located compute services in financial data centers. It primarily serves banks, broker-dealers, investment banks, trading firms, hedge funds, governments, and corporations, as well as investment firms. BGC Partners, Inc. was founded in 1945 and is headquartered in New York, New York.
