Oppenheimer (NYSE:OPY) Trading Up 9.2% – Here’s Why

Oppenheimer Holdings, Inc. (NYSE:OPY) shares rose 9.2% on Friday . The company traded as high as $81.98 and last traded at $83.2220. Approximately 7,139 shares traded hands during trading, a decline of 79% from the average daily volume of 33,746 shares. The stock had previously closed at $76.21.

Wall Street Analyst Weigh In

OPY has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Oppenheimer from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Cantor Fitzgerald lowered shares of Oppenheimer to a “buy” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Oppenheimer in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Oppenheimer presently has an average rating of “Buy”.

Oppenheimer Stock Up 8.0%

The firm’s 50-day moving average price is $73.29 and its 200-day moving average price is $72.06. The company has a market cap of $865.87 million, a P/E ratio of 11.02 and a beta of 1.17.

Oppenheimer (NYSE:OPY) last issued its earnings results on Friday, January 30th. The financial services provider reported $6.51 earnings per share (EPS) for the quarter. Oppenheimer had a net margin of 5.50% and a return on equity of 9.58%.

Oppenheimer Dividend Announcement

The business also recently announced a special dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were paid a $1.00 dividend. The ex-dividend date was Friday, December 26th. Oppenheimer’s dividend payout ratio (DPR) is currently 9.66%.

Institutional Investors Weigh In On Oppenheimer

Institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its position in shares of Oppenheimer by 39.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,154 shares of the financial services provider’s stock valued at $486,000 after acquiring an additional 2,296 shares during the period. Caxton Associates LLP purchased a new position in Oppenheimer in the first quarter worth $206,000. Empowered Funds LLC increased its stake in Oppenheimer by 5.3% in the first quarter. Empowered Funds LLC now owns 36,347 shares of the financial services provider’s stock valued at $2,167,000 after acquiring an additional 1,836 shares during the last quarter. Inspire Investing LLC raised its position in Oppenheimer by 2.5% during the second quarter. Inspire Investing LLC now owns 5,965 shares of the financial services provider’s stock valued at $392,000 after purchasing an additional 145 shares in the last quarter. Finally, AlphaQuest LLC bought a new stake in Oppenheimer during the second quarter worth about $223,000. 32.26% of the stock is owned by hedge funds and other institutional investors.

Oppenheimer Company Profile

Oppenheimer & Co Inc is a full-service investment bank and wealth management firm headquartered in New York City. Founded in the mid-20th century, the company provides a broad array of financial services to individual, institutional and corporate clients. Its core competencies include equity and fixed-income research, institutional sales and trading, underwriting and merger-and-acquisition advisory.

In the wealth management segment, Oppenheimer offers tailored investment solutions, comprehensive financial planning and retirement strategies.