The stock of BGC Partners, Inc. (NASDAQ:BGCP) hit a new 52-week high and has $11.97 target or 23.00% above today’s $9.73 share price. The 9 months bullish chart indicates low risk for the $2.73B company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $11.97 price target is reached, the company will be worth $627.90 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 110,964 shares traded hands. BGC Partners, Inc. (NASDAQ:BGCP) has risen 5.53% since April 15, 2016 and is uptrending. It has outperformed by 0.90% the S&P500.
According to Zacks Investment Research, “BGC PARTNERS, INC. is a leading global full-service inter-dealer broker, specializing in the trading of financial instruments and related derivatives products. BGC Partners provides integrated voice, hybrid, and fully electronic execution and other brokerage services to some of the world’s largest and most credit worthy banks, broker-dealers, investment banks and investment firms for a broad range of global financial products, including fixed income securities, foreign exchange, equity derivatives, credit derivatives, futures, structured products and other instruments. Through its eSpeed and BGCantor Market Data brands, BGC also offers financial technology solutions and market data and analytics related to selected financial instruments and markets. Named after fixed income trading innovator B. Gerald Cantor, BGC Partners has offices in New York and London, as well as in Beijing, Chicago, Copenhagen, Hong Kong, Istanbul, Mexico City, Nyon, Paris, Seoul, Singapore, Sydney, Tokyo and Toronto.”
Insitutional Activity: The institutional sentiment increased to 1.32 in 2016 Q2. Its up 0.04, from 1.28 in 2016Q1. The ratio increased, as 21 funds sold all BGC Partners, Inc. shares owned while 56 reduced positions. 20 funds bought stakes while 82 increased positions. They now own 104.46 million shares or 2.28% less from 106.90 million shares in 2016Q1.
Nationwide Fund, a Pennsylvania-based fund reported 215,462 shares. Assetmark holds 0% or 2,557 shares in its portfolio. The Missouri-based Argent Mngmt Lc has invested 0.07% in BGC Partners, Inc. (NASDAQ:BGCP). Moreover, Blair William Communication Il has 0% invested in BGC Partners, Inc. (NASDAQ:BGCP) for 10,601 shares. Blackrock Advisors Limited Liability Company accumulated 181,394 shares or 0% of the stock. Schwab Charles Invest Management reported 819,924 shares or 0.01% of all its holdings. California Pub Employees Retirement accumulated 0.01% or 849,400 shares. Jpmorgan Chase And owns 2.41 million shares or 0.01% of their US portfolio. Moreover, Lmm Lc has 0.09% invested in BGC Partners, Inc. (NASDAQ:BGCP) for 226,400 shares. Schnieders Cap Management Limited Liability Company has invested 0.06% of its portfolio in BGC Partners, Inc. (NASDAQ:BGCP). First Allied Advisory reported 16,416 shares or 0.01% of all its holdings. Moors & Cabot holds 0.02% of its portfolio in BGC Partners, Inc. (NASDAQ:BGCP) for 10,900 shares. Miles Inc last reported 0.06% of its portfolio in the stock. Everpoint Asset Mngmt Ltd Company, a Connecticut-based fund reported 307,901 shares. Concert Wealth Mngmt last reported 30,928 shares in the company.
More notable recent BGC Partners, Inc. (NASDAQ:BGCP) news were published by: Prnewswire.com which released: “BGC Partners Reports Third Quarter 2016 Financial Results” on October 27, 2016, also Prnewswire.com with their article: “BGC Partners Announces Agreement to Acquire Sunrise Brokers, a Leading …” published on July 19, 2016, Seekingalpha.com published: “The Problem With BGC Partners” on August 15, 2016. More interesting news about BGC Partners, Inc. (NASDAQ:BGCP) were released by: Prnewswire.com and their article: “Carbon Trading Veteran John Battaglia Joins BGC Partners to Lead Carbon …” published on August 08, 2016 as well as Prnewswire.com‘s news article titled: “BGC Partners Announces New Unsecured Credit Agreement” with publication date: February 26, 2016.
BGCP Company Profile
BGC Partners, Inc. (BGC), incorporated on June 3, 1999, is a global brokerage firm servicing the financial and real estate markets. The Firm operates through two divisions: Financial Services and Real Estate Services. The Firm 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. The Company’s integrated platform is designed to provide flexibility to clients with regard to price discovery, execution and processing of transactions, and enables them to use voice, hybrid, or in various markets, electronic brokerage services in connection with transactions executed either over-the-counter or through an exchange. Through the Company’s FENICS, BGC Trader, BGC Market Data and Capitalab brands, it offers electronic brokerage, financial technology solutions, market data, post-trade services, and analytics related to select financial instruments and markets. The Company’s clients include banks, broker-dealers, investment banks, trading firms, hedge funds, governments, firms, property owners, real estate developers and investment firms.
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