Oppenheimer (NYSE:OPY) Sets New 52-Week High – What’s Next?

Oppenheimer Holdings, Inc. (NYSE:OPY)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $107.00 and last traded at $106.61, with a volume of 22673 shares traded. The stock had previously closed at $105.11.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OPY. Weiss Ratings restated a “buy (b-)” rating on shares of Oppenheimer in a report on Thursday, January 22nd. Wall Street Zen raised Oppenheimer from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 7th. Finally, Cantor Fitzgerald cut Oppenheimer to a “buy” rating in a research note on Wednesday, January 7th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

Oppenheimer Price Performance

The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 8.48 and a beta of 1.14. The business’s 50-day moving average price is $89.45 and its 200 day moving average price is $78.03.

Oppenheimer (NYSE:OPY) last released its quarterly earnings results on Friday, January 30th. The financial services provider reported $6.51 earnings per share 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 during the quarter.

Oppenheimer Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, February 13th. Oppenheimer’s payout ratio is presently 5.52%.

Insider Activity at Oppenheimer

In related news, insider Dennis P. Mcnamara sold 4,673 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $90.67, for a total value of $423,700.91. Following the completion of the transaction, the insider owned 20,177 shares of the company’s stock, valued at approximately $1,829,448.59. This represents a 18.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 34.86% of the company’s stock.

Institutional Trading of Oppenheimer

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue bought a new position in shares of Oppenheimer during the third quarter worth about $31,000. Arax Advisory Partners grew its position in shares of 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 acquiring an additional 477 shares during the last quarter. Torren Management LLC acquired a new stake in shares of Oppenheimer in the 4th quarter worth about $38,000. Barclays PLC bought a new stake in Oppenheimer in the 4th quarter valued at about $40,000. Finally, Clearstead Advisors LLC boosted its stake in Oppenheimer by 193.9% during the 4th quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 415 shares during the period. Institutional investors own 32.26% of the company’s stock.

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.