What’s Ahead for BGC Partners, Inc. (BGCP) After Forming Bearish Double Bottom?

September 16, 2018 - By Margaret Guttierez

BGC Partners, Inc. (NASDAQ:BGCP) Logo

Investors sentiment decreased to 1.02 in Q2 2018. Its down 0.53, from 1.55 in 2018Q1. It is negative, as 49 investors sold BGC Partners, Inc. shares while 70 reduced holdings. 37 funds opened positions while 84 raised stakes. 159.44 million shares or 7.08% more from 148.89 million shares in 2018Q1 were reported.
Tci Wealth Advsrs stated it has 0.01% of its portfolio in BGC Partners, Inc. (NASDAQ:BGCP). Stone Ridge Asset Ltd Liability Corporation has 0.05% invested in BGC Partners, Inc. (NASDAQ:BGCP). Regions Financial Corporation stated it has 2,500 shares. Moreover, Symphony Asset Management Ltd Limited Liability Company has 0.03% invested in BGC Partners, Inc. (NASDAQ:BGCP) for 13,364 shares. Raymond James Trust Na invested 0.03% in BGC Partners, Inc. (NASDAQ:BGCP). Art Limited Liability invested in 0.08% or 172,266 shares. Yorktown Rech Com has invested 1.31% in BGC Partners, Inc. (NASDAQ:BGCP). Bancshares Of America De holds 0% of its portfolio in BGC Partners, Inc. (NASDAQ:BGCP) for 745,889 shares. Virginia Retirement Sys Et Al owns 70,100 shares or 0.01% of their US portfolio. California Public Employees Retirement invested 0.01% of its portfolio in BGC Partners, Inc. (NASDAQ:BGCP). Geode Cap Ltd Com holds 3.96 million shares. Lpl Limited Company reported 0% in BGC Partners, Inc. (NASDAQ:BGCP). Bnp Paribas Arbitrage Sa, New York-based fund reported 409,949 shares. Citadel Advsrs Ltd has invested 0.01% in BGC Partners, Inc. (NASDAQ:BGCP). Jpmorgan Chase & holds 2.88M shares.

The chart of BGC Partners, Inc. (BGCP) shows a double bottom with $11.09 target or 7.00 % below today’s $11.93 share price. The 5 months chart pattern indicates high risk for the $4.52B company. It was reported on Sep, 16 by Finviz.com. If the $11.09 price target is reached, the company will be worth $316.68 million less. Double bottoms are rare but powerful chart patterns.

The stock increased 1.19% or $0.14 during the last trading session, reaching $11.93. About 1.12 million shares traded. BGC Partners, Inc. (NASDAQ:BGCP) has declined 11.32% since September 16, 2017 and is downtrending. It has underperformed by 26.94% the S&P500.

Analysts await BGC Partners, Inc. (NASDAQ:BGCP) to report earnings on October, 25. They expect $0.44 EPS, up 51.72 % or $0.15 from last year’s $0.29 per share. BGCP’s profit will be $166.85 million for 6.78 P/E if the $0.44 EPS becomes a reality. After $0.30 actual EPS reported by BGC Partners, Inc. for the previous quarter, Wall Street now forecasts 46.67 % EPS growth.

Another recent and important BGC Partners, Inc. (NASDAQ:BGCP) news was published by Seekingalpha.com which published an article titled: “Breaking Up BGC Partners” on August 22, 2018.

BGC Partners, Inc. operates as a brokerage firm servicing the financial and real estate markets worldwide. The company has market cap of $4.52 billion. It operates in two divisions, Financial Services and Real Estate Services. It has a 73.64 P/E ratio. 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 services and products.

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