Rhumbline Advisers Increases Position in BGC Partners, Inc. (BGCP)

Rhumbline Advisers Increases Position in BGC Partners, Inc. (BGCP)

Rhumbline Advisers increased its stake in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 5.7% during the third quarter, Holdings Channel reports. The institutional investor owned 227,914 shares of the company’s stock after buying an additional 12,300 shares during the period. Rhumbline Advisers owned 0.08% of BGC Partners worth $1,994,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BGCP. A.R.T. Advisors LLC bought a new position in BGC Partners during the second quarter valued at $108,000. Nuveen Asset Management LLC raised its position in BGC Partners by 16.1% in the second quarter. Nuveen Asset Management LLC now owns 14,411 shares of the company’s stock valued at $126,000 after buying an additional 1,998 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in BGC Partners by 72.8% in the second quarter. Cubist Systematic Strategies LLC now owns 14,806 shares of the company’s stock valued at $129,000 after buying an additional 6,237 shares in the last quarter. Wealthsource Partners LLC bought a new position in BGC Partners during the third quarter valued at $133,000. Finally, IMS Capital Management raised its position in BGC Partners by 0.3% in the third quarter. IMS Capital Management now owns 16,078 shares of the company’s stock valued at $141,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 38.92% of the company’s stock.

Shares of BGC Partners, Inc. (NASDAQ:BGCP) traded down 0.36% on Friday, hitting $11.18. 367,065 shares of the stock traded hands. The firm has a market capitalization of $3.12 billion, a PE ratio of 19.96 and a beta of 1.39. The firm’s 50 day moving average is $10.45 and its 200 day moving average is $9.37. BGC Partners, Inc. has a 52 week low of $8.18 and a 52 week high of $11.25.

Separately, Zacks Investment Research upgraded shares of BGC Partners from a “sell” rating to a “hold” rating and set a $11.00 price target on the stock in a research note on Tuesday, December 27th.

BGC Partners Company Profile

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. The Company provides a range of services, including trade execution, broker-dealer services, clearing, processing, information, and other back-office services to a range of financial and non-financial institutions.

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