Oppenheimer (NYSE:OPY) Raised to Strong-Buy at Wall Street Zen

Oppenheimer (NYSE:OPY) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Several other brokerages also recently issued reports on OPY. Cantor Fitzgerald downgraded shares of Oppenheimer to a “buy” rating in a research report on Wednesday, January 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Oppenheimer in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Oppenheimer currently has an average rating of “Buy”.

Oppenheimer Trading Down 2.9%

OPY stock opened at $85.93 on Friday. The company has a market capitalization of $904.07 million, a P/E ratio of 6.59 and a beta of 1.18. The business has a 50 day simple moving average of $82.24 and a 200-day simple moving average of $75.04. Oppenheimer has a twelve month low of $49.26 and a twelve month high of $94.10.

Oppenheimer (NYSE:OPY) last announced its earnings results on Friday, January 30th. The financial services provider reported $6.51 EPS for the quarter. Oppenheimer had a net margin of 9.06% and a return on equity of 16.10%. The business had revenue of $472.63 million for the quarter.

Insiders Place Their Bets

In related news, insider Dennis P. Mcnamara sold 4,673 shares of Oppenheimer stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $90.67, for a total value of $423,700.91. Following the transaction, the insider directly owned 20,177 shares in the company, valued at $1,829,448.59. This trade represents a 18.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 34.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new position in shares of Oppenheimer in the 3rd quarter valued at about $31,000. Arax Advisory Partners boosted its holdings in Oppenheimer by 47,700.0% during the fourth quarter. Arax Advisory Partners now owns 478 shares of the financial services provider’s stock worth $35,000 after buying an additional 477 shares in the last quarter. Torren Management LLC acquired a new position in Oppenheimer during the fourth quarter worth about $38,000. Barclays PLC acquired a new position in Oppenheimer during the fourth quarter worth about $40,000. Finally, Clearstead Advisors LLC increased its holdings in Oppenheimer by 193.9% in the fourth quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider’s stock valued at $45,000 after buying an additional 415 shares in the last quarter. 32.26% of the stock is owned by hedge funds and other institutional investors.

About Oppenheimer

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.