Oppenheimer (NYSE:OPY) Hits New 52-Week High – Still a Buy?

Shares of Oppenheimer Holdings, Inc. (NYSE:OPY) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $95.21 and last traded at $95.0410, with a volume of 45454 shares trading hands. The stock had previously closed at $91.01.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Oppenheimer from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 7th. Cantor Fitzgerald downgraded shares of Oppenheimer to a “buy” rating in a report on Wednesday, January 7th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Oppenheimer in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Oppenheimer presently has a consensus rating of “Buy”.

Oppenheimer Price Performance

The company has a market capitalization of $1.02 billion, a P/E ratio of 7.27 and a beta of 1.14. The stock’s 50 day simple moving average is $86.68 and its two-hundred day simple moving average is $76.89.

Oppenheimer (NYSE:OPY) last announced its 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 company had revenue of $472.63 million during the quarter.

Oppenheimer Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. Oppenheimer’s payout ratio is currently 5.52%.

Insider Buying and Selling at Oppenheimer

In other Oppenheimer news, insider Dennis P. Mcnamara sold 4,673 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $90.67, for a total value of $423,700.91. Following the completion of the transaction, the insider directly owned 20,177 shares of the company’s stock, valued at approximately $1,829,448.59. The trade was a 18.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 34.86% of the company’s stock.

Hedge Funds Weigh In On Oppenheimer

A number of institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue bought a new stake in shares of Oppenheimer during the third quarter worth approximately $31,000. Arax Advisory Partners raised its stake 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 buying an additional 477 shares during the last quarter. Torren Management LLC bought a new stake in shares of Oppenheimer during the fourth quarter worth approximately $38,000. Barclays PLC bought a new stake in shares of Oppenheimer during the fourth quarter worth approximately $40,000. Finally, Clearstead Advisors LLC raised its stake in shares of Oppenheimer by 193.9% during the fourth quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider’s stock worth $45,000 after buying an additional 415 shares during the last quarter. 32.26% of the stock is owned by 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.