5 Stocks to Invest In Now According to Viraj Mehta’s Arctis Global

4. BGC Partners, Inc. (NASDAQ:BGCP)

Arctis Global’s Stake Value: $27,701,000
Percentage of Arctis Global’s 13F Portfolio: 10.37%
Number of Hedge Fund Holders: 26

BGC Partners, Inc. (NASDAQ:BGCP) works in the financial markets, providing brokerage services. Fixed income, foreign currency, stocks, insurance, energy, commodities, and futures are among the products offered by the business, which also offers integrated voice, hybrid, and completely computerized brokerage.

BGC Partners, Inc. (NASDAQ:BGCP), on May 2, posted earnings for the first quarter of 2022. The reported EPS came in at $0.21, in line with estimates. Revenue over the period came in at $506.5 million, below estimates by $10.79 million. BGC Partners, Inc. (NASDAQ:BGCP) also issued a $0.01 per share quarterly dividend, in line with previous.

In the fourth quarter, Arctis Global sold 6.87 million shares of BGC Partners, Inc. (NASDAQ:BGCP), reducing its remaining stake by about 54%. At the end of the quarter, the hedge fund held more than 5.96 million shares of BGC Partners, Inc. (NASDAQ:BGCP), worth about $27.70 million.

An Outperform rating was assigned to BGC Partners, Inc. (NASDAQ:BGCP) and a $7 price objective by Credit Suisse analyst Gautam Sawant on February 15. According to Insider Monkey’s Q4 data, 26 hedge funds were long BGC Partners, Inc. (NASDAQ:BGCP), compared to 23 funds in the previous quarter.