Oppenheimer (NYSE:OPY) Share Price Passes Above 200 Day Moving Average – Here’s Why

Oppenheimer Holdings, Inc. (NYSE:OPY) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $71.19 and traded as high as $74.83. Oppenheimer shares last traded at $74.4050, with a volume of 47,534 shares changing hands.

Analyst Ratings Changes

Several research firms recently weighed in on OPY. Cantor Fitzgerald cut shares of Oppenheimer to a “buy” rating in a research report on Wednesday, January 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Oppenheimer in a report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Oppenheimer from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy”.

Oppenheimer Trading Up 0.4%

The stock has a market capitalization of $782.74 million, a P/E ratio of 9.99 and a beta of 1.17. The stock’s fifty day moving average price is $70.78 and its two-hundred day moving average price is $71.19.

Oppenheimer (NYSE:OPY) last released its earnings results on Friday, October 31st. The financial services provider reported $1.90 EPS for the quarter. The company had revenue of $401.94 million for the quarter. Oppenheimer had a net margin of 5.50% and a return on equity of 9.58%.

Oppenheimer Announces Dividend

The business also recently announced a special dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 26th were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, December 26th. Oppenheimer’s payout ratio is 9.66%.

Hedge Funds Weigh In On Oppenheimer

A number of large investors have recently bought and sold shares of OPY. Goldman Sachs Group Inc. boosted 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 valued at $486,000 after purchasing an additional 2,296 shares during the period. Caxton Associates LLP bought a new stake in Oppenheimer during the 1st quarter valued at $206,000. Empowered Funds LLC boosted its position in Oppenheimer by 5.3% during the 1st quarter. Empowered Funds LLC now owns 36,347 shares of the financial services provider’s stock valued at $2,167,000 after buying an additional 1,836 shares during the period. Inspire Investing LLC boosted its position in Oppenheimer by 2.5% during the 2nd quarter. Inspire Investing LLC now owns 5,965 shares of the financial services provider’s stock valued at $392,000 after buying an additional 145 shares during the period. Finally, AlphaQuest LLC bought a new stake in Oppenheimer in the 2nd quarter worth $223,000. 32.26% of the stock is 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.