Oppenheimer (NYSE:OPY) Trading 9.2% Higher – Should You Buy?

Oppenheimer Holdings, Inc. (NYSE:OPY) shot up 9.2% on Friday . The stock traded as high as $81.98 and last traded at $83.2220. 7,139 shares were traded during mid-day trading, a decline of 79% from the average session volume of 33,746 shares. The stock had previously closed at $76.21.

Wall Street Analysts Forecast Growth

A number of analysts have commented on OPY shares. Wall Street Zen downgraded Oppenheimer from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Oppenheimer in a research report on Thursday, January 22nd. Finally, Cantor Fitzgerald lowered shares of Oppenheimer to a “buy” rating in a research report on Wednesday, January 7th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Oppenheimer currently has a consensus rating of “Buy”.

Oppenheimer Trading Up 10.5%

The company’s 50 day simple moving average is $73.65 and its 200 day simple moving average is $72.23. The stock has a market capitalization of $885.73 million, a PE ratio of 11.30 and a beta of 1.17.

Oppenheimer (NYSE:OPY) last posted its quarterly earnings data on Friday, January 30th. The financial services provider reported $6.51 earnings per share (EPS) for the quarter. The business had revenue of $472.63 million for the quarter. Oppenheimer had a return on equity of 9.58% and a net margin of 5.50%.

Oppenheimer Announces Dividend

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

Hedge Funds Weigh In On Oppenheimer

A number of hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. lifted its position in Oppenheimer by 12.2% during the second quarter. American Century Companies Inc. now owns 255,066 shares of the financial services provider’s stock valued at $16,776,000 after buying an additional 27,677 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Oppenheimer in the 2nd quarter valued at $648,000. AlphaQuest LLC acquired a new position in shares of Oppenheimer during the 2nd quarter valued at $223,000. Inspire Investing LLC lifted its holdings in shares of 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 acquiring an additional 145 shares in the last quarter. Finally, Metis Global Partners LLC purchased a new stake in Oppenheimer during the 3rd quarter worth $207,000. Institutional investors and hedge funds own 32.26% of the company’s stock.

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.