JPMorgan Chase & Co. lowered its holdings in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 10.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,589,787 shares of the financial services provider’s stock after selling 287,583 shares during the period. JPMorgan Chase & Co.’s holdings in BGC Partners were worth $30,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Oakbrook Investments LLC bought a new stake in BGC Partners during the 3rd quarter valued at $157,000. Wright Investors Service Inc. bought a new stake in BGC Partners during the 3rd quarter valued at $188,000. Jane Street Group LLC bought a new stake in BGC Partners during the 2nd quarter valued at $224,000. ARP Americas LP bought a new stake in BGC Partners during the 3rd quarter valued at $318,000. Finally, State of Alaska Department of Revenue increased its position in shares of BGC Partners by 46.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 28,144 shares of the financial services provider’s stock valued at $332,000 after purchasing an additional 8,884 shares during the period. 51.30% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on BGCP shares. Raymond James lowered their price target on BGC Partners from $17.00 to $16.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 26th. Zacks Investment Research upgraded BGC Partners from a “sell” rating to a “hold” rating and set a $12.00 price target on the stock in a research report on Monday, October 29th. BidaskClub cut BGC Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 4th. Finally, TheStreet cut BGC Partners from a “b” rating to a “c+” rating in a research report on Wednesday, December 19th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. BGC Partners has an average rating of “Hold” and a consensus price target of $14.00.
Shares of BGCP stock opened at $6.23 on Wednesday. BGC Partners, Inc. has a 1 year low of $4.93 and a 1 year high of $14.67. The firm has a market cap of $2.05 billion, a PE ratio of 5.19 and a beta of 1.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.14 and a current ratio of 1.14.
BGC Partners Company Profile
BGC Partners, Inc operates as a brokerage company servicing the financial and real estate markets worldwide. It operates in two segments, Financial Services and Real Estate Services. The Financial Services segment provides brokerage services for fixed income, interest rate derivatives, spot foreign exchange, foreign exchange derivatives, government bonds, corporate bonds, credit derivatives, insurance and money market products, energy, metals, equity derivatives, and structured market data products and services.
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