Oppenheimer (NYSE:OPY) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Oppenheimer Holdings, Inc. (NYSE:OPY)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $73.84 and traded as high as $90.40. Oppenheimer shares last traded at $88.61, with a volume of 43,010 shares traded.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OPY. Cantor Fitzgerald cut shares of Oppenheimer to a “buy” rating in a research note on Wednesday, January 7th. Wall Street Zen downgraded shares of Oppenheimer from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Oppenheimer in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy”.

Oppenheimer Stock Up 1.1%

The stock has a market capitalization of $932.18 million, a PE ratio of 6.80 and a beta of 1.20. The stock’s 50 day moving average price is $79.52 and its 200-day moving average price is $73.84.

Oppenheimer (NYSE:OPY) last released its quarterly earnings data on Friday, January 30th. The financial services provider reported $6.51 earnings per share for the quarter. The firm had revenue of $472.63 million during the quarter. Oppenheimer had a return on equity of 16.55% and a net margin of 9.06%.

Oppenheimer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.72 dividend on an annualized basis and a yield of 0.8%. Oppenheimer’s dividend payout ratio is presently 5.52%.

Hedge Funds Weigh In On Oppenheimer

Several hedge funds have recently made changes to their positions in OPY. Boothbay Fund Management LLC lifted its holdings in Oppenheimer by 0.4% in the fourth quarter. Boothbay Fund Management LLC now owns 32,219 shares of the financial services provider’s stock valued at $2,329,000 after acquiring an additional 120 shares during the period. Inspire Investing LLC raised its holdings in Oppenheimer by 2.6% in the 3rd quarter. Inspire Investing LLC now owns 6,122 shares of the financial services provider’s stock valued at $452,000 after acquiring an additional 157 shares during the last quarter. Geode Capital Management LLC boosted its stake in Oppenheimer by 0.3% during the second quarter. Geode Capital Management LLC now owns 67,885 shares of the financial services provider’s stock worth $4,467,000 after buying an additional 214 shares during the last quarter. Clearstead Advisors LLC grew its holdings in shares of Oppenheimer by 193.9% in the fourth quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 415 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Oppenheimer in the 3rd quarter valued at approximately $31,000. 32.26% of the stock is owned by institutional investors and hedge funds.

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.