Oppenheimer (NYSE:OPY) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Oppenheimer Holdings, Inc. (NYSE:OPY) saw an uptick in trading volume on Monday . 105,469 shares changed hands during trading, an increase of 106% from the previous session’s volume of 51,160 shares.The stock last traded at $90.5750 and had previously closed at $90.95.

Analyst Ratings Changes

Several equities analysts recently issued reports on OPY shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Oppenheimer in a report on Thursday, January 22nd. Wall Street Zen upgraded Oppenheimer from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 7th. Finally, Cantor Fitzgerald lowered Oppenheimer to a “buy” rating in a research report on Wednesday, January 7th. 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 Performance

The business’s fifty day moving average price is $86.40 and its two-hundred day moving average price is $76.81. The firm has a market capitalization of $971.61 million, a P/E ratio of 6.96 and a beta of 1.14.

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

Oppenheimer Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, February 13th. Oppenheimer’s dividend payout ratio is currently 5.52%.

Insider Buying and Selling at Oppenheimer

In other news, insider Dennis P. Mcnamara sold 4,673 shares of the firm’s stock in a transaction on 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 sale, the insider owned 20,177 shares of the company’s stock, valued at $1,829,448.59. This trade represents a 18.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 34.86% of the stock is owned by insiders.

Institutional Investors Weigh In On Oppenheimer

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OPY. Goldman Sachs Group Inc. grew its stake in shares of Oppenheimer by 39.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,154 shares of the financial services provider’s stock worth $486,000 after acquiring an additional 2,296 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of Oppenheimer in the 1st quarter valued at approximately $206,000. Empowered Funds LLC boosted its stake in Oppenheimer by 5.3% in the 1st quarter. Empowered Funds LLC now owns 36,347 shares of the financial services provider’s stock worth $2,167,000 after purchasing an additional 1,836 shares in the last quarter. Geode Capital Management LLC boosted its stake in Oppenheimer by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 67,885 shares of the financial services provider’s stock worth $4,467,000 after purchasing an additional 214 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Oppenheimer by 146.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 44,842 shares of the financial services provider’s stock worth $2,949,000 after purchasing an additional 26,643 shares during the last quarter. 32.26% of the stock is currently 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.