Wall Street Zen Upgrades Oppenheimer (NYSE:OPY) to “Strong-Buy”

Oppenheimer (NYSE:OPY) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

OPY has been the subject of several other research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Oppenheimer in a research note on Thursday, January 22nd. Cantor Fitzgerald downgraded Oppenheimer to a “buy” rating in a research note on Wednesday, January 7th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Oppenheimer presently has an average rating of “Buy”.

Oppenheimer Stock Performance

Shares of NYSE:OPY opened at $85.93 on Friday. The company has a market capitalization of $903.98 million, a P/E ratio of 6.59 and a beta of 1.18. The company’s 50-day moving average is $82.24 and its 200 day moving average is $74.96. Oppenheimer has a fifty-two week low of $49.26 and a fifty-two week high of $94.10.

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 during the quarter. Oppenheimer had a net margin of 9.06% and a return on equity of 16.10%.

Insider Activity at Oppenheimer

In other news, insider Dennis P. Mcnamara sold 4,673 shares of Oppenheimer stock in a transaction on Monday, March 2nd. The stock was 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 in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 34.25% of the stock is owned by insiders.

Institutional Trading of Oppenheimer

A number of institutional investors have recently added to or reduced their stakes in OPY. State of Tennessee Department of Treasury bought a new position in Oppenheimer in the 4th quarter worth about $147,000. Empowered Funds LLC grew its holdings in Oppenheimer by 60.9% during the 4th quarter. Empowered Funds LLC now owns 30,993 shares of the financial services provider’s stock valued at $2,240,000 after buying an additional 11,735 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Oppenheimer during the fourth quarter valued at about $447,000. Millennium Management LLC lifted its holdings in shares of Oppenheimer by 56.6% in the fourth quarter. Millennium Management LLC now owns 114,737 shares of the financial services provider’s stock worth $8,294,000 after buying an additional 41,485 shares in the last quarter. Finally, Man Group plc lifted its holdings in shares of Oppenheimer by 31.5% in the fourth quarter. Man Group plc now owns 19,183 shares of the financial services provider’s stock worth $1,387,000 after buying an additional 4,594 shares in the last quarter. Hedge funds and other institutional investors 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.