StockNews.com Upgrades Oppenheimer (NYSE:OPY) to Strong-Buy

Oppenheimer (NYSE:OPY – Get Rating) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday.

Oppenheimer Stock Up 1.0 %

Shares of NYSE OPY opened at $37.66 on Wednesday. Oppenheimer has a 52-week low of $28.41 and a 52-week high of $49.32. The company’s 50 day moving average price is $37.99 and its 200-day moving average price is $41.22. The company has a market capitalization of $416.52 million, a P/E ratio of 11.99 and a beta of 1.15. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.92 and a current ratio of 1.35.

Insider Activity

In related news, insider Dennis P. Mcnamara sold 12,120 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $44.53, for a total value of $539,703.60. Following the transaction, the insider now owns 24,324 shares in the company, valued at $1,083,147.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 32.49% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in OPY. AQR Capital Management LLC lifted its holdings in shares of Oppenheimer by 20.3% in the 4th quarter. AQR Capital Management LLC now owns 167,269 shares of the financial services provider’s stock worth $7,080,000 after acquiring an additional 28,172 shares during the last quarter. Renaissance Technologies LLC lifted its position in Oppenheimer by 258.8% during the first quarter. Renaissance Technologies LLC now owns 36,600 shares of the financial services provider’s stock valued at $1,433,000 after buying an additional 26,400 shares during the period. Two Sigma Investments LP bought a new stake in Oppenheimer during the first quarter worth about $954,000. Brandywine Global Investment Management LLC boosted its position in shares of Oppenheimer by 435.8% in the 1st quarter. Brandywine Global Investment Management LLC now owns 29,688 shares of the financial services provider’s stock worth $1,162,000 after purchasing an additional 24,147 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Oppenheimer by 5.2% in the first quarter. Goldman Sachs Group Inc. now owns 389,867 shares of the financial services provider’s stock worth $16,990,000 after acquiring an additional 19,175 shares during the last quarter. Institutional investors own 40.52% of the company’s stock.

About Oppenheimer

(Get Rating)

Oppenheimer Holdings, Inc engages as a middle-market investment bank and full-service broker-dealer. It operates through the following segments: Private Client, Asset Management, Capital Markets, and Corporate/Other. The Private Client segment consists of commissions and a proportionate amount of fee income earned on assets under management (AUM), net interest earnings on client margin loans and cash balances, fees from money market funds, custodian fees, net contributions from stock loan activities and financing activities, and direct expenses.