116,124 Shares in BGC Partners, Inc. (BGCP) Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC purchased a new position in BGC Partners, Inc. (NASDAQ:BGCP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 116,124 shares of the financial services provider’s stock, valued at approximately $1,755,000.

A number of other hedge funds also recently made changes to their positions in BGCP. Legal & General Group Plc raised its position in shares of BGC Partners by 14.6% during the 2nd quarter. Legal & General Group Plc now owns 83,351 shares of the financial services provider’s stock valued at $1,053,000 after buying an additional 10,634 shares in the last quarter. Comerica Bank purchased a new stake in shares of BGC Partners during the 2nd quarter valued at about $135,000. Swiss National Bank raised its position in shares of BGC Partners by 2.0% during the 2nd quarter. Swiss National Bank now owns 348,908 shares of the financial services provider’s stock valued at $4,410,000 after buying an additional 7,000 shares in the last quarter. Teachers Advisors LLC raised its position in shares of BGC Partners by 193.0% during the 2nd quarter. Teachers Advisors LLC now owns 1,114,551 shares of the financial services provider’s stock valued at $14,088,000 after buying an additional 734,130 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in shares of BGC Partners by 1.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 755,935 shares of the financial services provider’s stock valued at $9,555,000 after buying an additional 11,447 shares in the last quarter. Institutional investors and hedge funds own 43.04% of the company’s stock.

Shares of BGC Partners, Inc. (NASDAQ:BGCP) opened at $14.84 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.31 and a debt-to-equity ratio of 2.97. The stock has a market cap of $4,263.53, a PE ratio of 31.58 and a beta of 1.27. BGC Partners, Inc. has a 1 year low of $10.39 and a 1 year high of $16.97.

BGC Partners (NASDAQ:BGCP) last announced its earnings results on Thursday, October 26th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.29. The firm had revenue of $827.03 million for the quarter. BGC Partners had a net margin of 4.67% and a return on equity of 42.02%.

Several brokerages have recently issued reports on BGCP. ValuEngine cut shares of BGC Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research upgraded shares of BGC Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, BidaskClub cut shares of BGC Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th.

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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. It provides a range of services, including trade execution, broker-dealer services clearing, trade compression, post trade, information, and other back-office services to a range of financial and non-financial institutions.

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Institutional Ownership by Quarter for BGC Partners (NASDAQ:BGCP)

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