BGC Partners, Inc. (BGCP) Forms Bearish Double Bottom Chart Pattern; Strong Momentum for Sellers

September 16, 2018 - By Mark Mitchell

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 fall, 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.
Lpl Fincl Ltd Liability Corporation stated it has 51,250 shares or 0% of all its holdings. Metropolitan Life Ins Communications has 7,043 shares for 0% of their portfolio. Manufacturers Life Ins Co The invested 0% in BGC Partners, Inc. (NASDAQ:BGCP). Meritage Portfolio accumulated 322,211 shares. Parametric Portfolio Associate Ltd Liability Com invested 0.01% in BGC Partners, Inc. (NASDAQ:BGCP). California State Teachers Retirement System stated it has 429,690 shares. Guggenheim Cap Ltd Com accumulated 0.01% or 82,096 shares. Edge Wealth Limited Liability Com has 0.01% invested in BGC Partners, Inc. (NASDAQ:BGCP) for 5,000 shares. Symphony Asset Mgmt Ltd Com has invested 0.03% in BGC Partners, Inc. (NASDAQ:BGCP). Voya Ltd Com reported 55,147 shares. Geode Mngmt Lc holds 3.96M shares. Great West Life Assurance Can invested in 25,280 shares or 0% of the stock. D E Shaw & Inc holds 753,528 shares. Moreover, Fj Cap Mgmt Ltd Co has 0.03% invested in BGC Partners, Inc. (NASDAQ:BGCP). Rhumbline Advisers has invested 0.01% in BGC Partners, Inc. (NASDAQ:BGCP).

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 earnings per share, up 51.72 % or $0.15 from last year’s $0.29 per share. BGCP’s profit will be $166.85M for 6.78 P/E if the $0.44 EPS becomes a reality. After $0.30 actual earnings per share 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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