Oppenheimer (NYSE:OPY) Shares Down 5.9% – Here’s What Happened

Oppenheimer Holdings, Inc. (NYSE:OPY)’s stock price traded down 5.9% during mid-day trading on Tuesday . The company traded as low as $112.57 and last traded at $112.1460. Approximately 36,131 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 87,390 shares. The stock had previously closed at $119.17.

Wall Street Analysts Forecast Growth

OPY has been the topic of several analyst reports. Weiss Ratings upgraded Oppenheimer from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Wall Street Zen raised Oppenheimer from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Oppenheimer Stock Down 4.7%

The company has a 50 day simple moving average of $115.66 and a 200 day simple moving average of $105.03. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 12.83 and a beta of 1.10.

Oppenheimer (NYSE:OPY) last issued its earnings results on Friday, July 31st. The financial services provider reported $3.98 earnings per share (EPS) for the quarter. The business had revenue of $454.88 million during the quarter. Oppenheimer had a return on equity of 19.51% and a net margin of 5.72%.

Oppenheimer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, August 14th. Oppenheimer’s payout ratio is currently 9.03%.

Hedge Funds Weigh In On Oppenheimer

Hedge funds have recently made changes to their positions in the business. Clearstead Advisors LLC boosted its position in Oppenheimer by 193.9% during the 4th quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 415 shares during the period. Tidal Investments LLC purchased a new position in Oppenheimer in the second quarter valued at about $207,000. DGS Capital Management LLC lifted its stake in shares of Oppenheimer by 2.7% during the first quarter. DGS Capital Management LLC now owns 3,681 shares of the financial services provider’s stock worth $328,000 after purchasing an additional 97 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in shares of Oppenheimer during the second quarter worth about $408,000. Finally, Engineers Gate Manager LP boosted its position in shares of Oppenheimer by 208.5% in the second quarter. Engineers Gate Manager LP now owns 10,026 shares of the financial services provider’s stock worth $1,058,000 after buying an additional 6,776 shares during the period. Hedge funds and other institutional investors own 32.26% of the company’s stock.

Oppenheimer Company Profile

Oppenheimer Holdings Inc (NYSE: OPY) is a diversified financial services company and the parent of Oppenheimer & Co Inc, a full-service investment banking and wealth management firm headquartered in New York. The company serves corporations, institutional investors, public entities, high-net-worth individuals and other clients primarily through operations in the United States.

Its principal businesses include investment banking, institutional and retail brokerage, equity and fixed-income research, asset management, and financial planning.