The Vanguard Group, Inc. recently announced the acquisition of new stake in BGC Partners Inc. (NASDAQ:BGCP). The institutional investor has increased its shareholding in the Financial company by 1.51% to 32.22 million shares with purchase of 0.48 million shares. This fresh investment now brings its stake to 9.82% valued currently at $145.95 million. In addition, Rubric Capital Management LP raised its holdings by 1.6 million to 19.85 million shares. And AltraVue Capital LLC has lifted its position by 8.14% or 0.77 million shares – to 10.21 million shares.
With over 3.25 million BGC Partners Inc. (BGCP) shares trading Monday and a closing price of $4.75 on the day, the dollar volume was approximately $15.45 million. The shares have shown a positive half year performance of 22.74% and its price on 05/22/23 gained nearly 2.37%. Currently, there are 371.17M common shares owned by the public and among those 289.78M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for BGCP have a consensus price objective of $8.50. The analysts have set the share’s price value over the next 12 months at a high of $8.50 and a low of $8.50. But an upside of 44.12% will see the stock hit the forecast high price target while median target price for the stock is $8.50.
Insiders at the company have transacted a total of 5 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 4 of these insider trades were purchases, accounting for 56,144 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 21,786 shares.
The top 3 mutual fund holders in BGC Partners Inc. are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF. Vanguard Total Stock Market ETF owns 10.22 million shares of the company’s stock, all valued at over $46.28 million. The company bought an additional 18356.0 shares recently to bring their total holdings to about 3.12% of the shares outstanding. Vanguard Small Cap Index Fund bought 15002.0 shares to see its total holdings expand to 8.48 million shares valued at over $38.42 million and representing 2.59% of the shares outstanding. iShares Russell 2000 ETF sold 97760.0 shares to bring its total holdings to over 6.69 million shares at a value of $30.29 million. iShares Russell 2000 ETF now owns shares totaling to 2.04% of the shares outstanding.
Shares of BGC Partners Inc. (NASDAQ: BGCP) opened at $4.65, up $0.01 from a prior closing price of $4.64. The company’s stock has a 5-day price change of 10.21% and 12.56% over the past three months. BGCP shares are trading 25.99% year to date (YTD), with the 12-month market performance up to 50.79% higher. It has a 12-month low price of $3.00 and touched a high of $5.51 over the same period. BGCP has an average intraday trading volume of 2.52 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.17%, 2.41%, and 12.30% respectively.
Institutional ownership of BGC Partners Inc. (NASDAQ: BGCP) shares accounts for 67.80% of the company’s 371.17M shares outstanding. Mutual fund holders own 28.16%, while other institutional holders and individual stakeholders account for 39.89% and 13.91% respectively.
It has a market capitalization of $1.81B and a beta (3y monthly) value of 1.70. The stock’s trailing 12-month PE ratio is 43.98, while the earnings-per-share (ttm) stands at $0.11. The company has a PEG of 2.15 and the debt-to-equity ratio at 1.58. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.63% over the week and 4.08% over the month.
Analysts forecast that BGC Partners Inc. (BGCP) will achieve an EPS of $0.19 for the current quarter, $0.2 for the next quarter and $1.02 for 2024. The lowest estimate earnings-per-share for the quarter is $0.19 while analysts give the company a high EPS estimate of $0.19. Comparatively, EPS for the current quarter was $0.17 a year ago. Earnings per share for the fiscal year are expected to decrease by -60.50%, and 24.39% over the next financial year. EPS should grow at an annualized rate of 20.48% over the next five years, compared to 20.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate BGC Partners Inc. (BGCP) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
