Wellington Management Group LLP Acquires 51,469 Shares of BGC Partners, Inc. (NASDAQ:BGCP)

Wellington Management Group LLP increased its holdings in BGC Partners, Inc. (NASDAQ:BGCP) by 53.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 146,883 shares of the financial services provider’s stock after purchasing an additional 51,469 shares during the quarter. Wellington Management Group LLP’s holdings in BGC Partners were worth $370,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Cubist Systematic Strategies LLC boosted its position in BGC Partners by 133.9% during the fourth quarter. Cubist Systematic Strategies LLC now owns 4,210 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 2,410 shares during the last quarter. Creative Planning boosted its position in BGC Partners by 26.1% during the first quarter. Creative Planning now owns 20,215 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 4,190 shares during the last quarter. Rhumbline Advisers boosted its position in BGC Partners by 2.0% during the fourth quarter. Rhumbline Advisers now owns 220,431 shares of the financial services provider’s stock valued at $1,309,000 after acquiring an additional 4,226 shares during the last quarter. Rafferty Asset Management LLC boosted its position in BGC Partners by 10.1% during the fourth quarter. Rafferty Asset Management LLC now owns 47,891 shares of the financial services provider’s stock valued at $284,000 after acquiring an additional 4,383 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in BGC Partners by 10.7% during the fourth quarter. Stifel Financial Corp now owns 45,948 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 4,453 shares during the last quarter. 50.79% of the stock is currently owned by institutional investors and hedge funds.

BGCP opened at $2.75 on Wednesday. BGC Partners, Inc. has a fifty-two week low of $2.07 and a fifty-two week high of $6.14. The firm has a market capitalization of $976.06 million, a PE ratio of 275.28 and a beta of 1.74. The company’s 50-day moving average is $2.78 and its 200 day moving average is $4.08.

BGC Partners (NASDAQ:BGCP) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $0.19 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.19. BGC Partners had a net margin of 0.38% and a return on equity of 42.22%. The company had revenue of $603.17 million for the quarter, compared to analyst estimates of $592.75 million. Sell-side analysts predict that BGC Partners, Inc. will post 0.63 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Friday, May 22nd were issued a $0.01 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.45%. BGC Partners’s dividend payout ratio is presently 6.56%.

Several equities analysts have recently weighed in on BGCP shares. BidaskClub lowered shares of BGC Partners from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Raymond James lowered shares of BGC Partners from a “strong-buy” rating to a “market perform” rating in a report on Friday, March 27th. Zacks Investment Research lowered shares of BGC Partners from a “buy” rating to a “hold” rating in a report on Wednesday, June 3rd. Finally, ValuEngine lowered shares of BGC Partners from a “sell” rating to a “strong sell” rating in a report on Thursday, April 2nd.

About BGC Partners

BGC Partners, Inc operates as a brokerage and financial technology company worldwide. It offers various brokerage products, such as fixed income, foreign exchange, equities, energy and commodities, insurance, and futures. The company also provides other services that include trade execution, broker dealer, clearing, trade compression, post-trade, information, and other back office services to financial and non-financial institutions.

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

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