Oppenheimer (NYSE:OPY) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Oppenheimer Holdings, Inc. (NYSE:OPY) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $76.23 and traded as high as $89.96. Oppenheimer shares last traded at $88.8450, with a volume of 52,342 shares traded.

Wall Street Analysts Forecast Growth

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

Oppenheimer Trading Up 0.9%

The company has a market capitalization of $951.53 million, a P/E ratio of 6.81 and a beta of 1.18. The firm’s 50 day moving average price is $85.30 and its two-hundred day moving average price is $76.23.

Oppenheimer (NYSE:OPY) last announced its quarterly earnings data on Friday, January 30th. The financial services provider reported $6.51 EPS for the quarter. Oppenheimer had a net margin of 9.06% and a return on equity of 16.10%. The business had revenue of $472.63 million for the quarter.

Oppenheimer Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.72 annualized dividend and a yield of 0.8%. Oppenheimer’s payout ratio is 5.52%.

Insider Activity at Oppenheimer

In other news, insider Dennis P. Mcnamara sold 4,673 shares of the firm’s stock in a transaction dated 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 owned 20,177 shares in the company, valued at $1,829,448.59. This trade represents a 18.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 34.86% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its stake in Oppenheimer by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 493,218 shares of the financial services provider’s stock valued at $36,456,000 after purchasing an additional 2,911 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Oppenheimer by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 426,033 shares of the financial services provider’s stock worth $31,488,000 after purchasing an additional 10,345 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Oppenheimer by 17.3% in the 3rd quarter. American Century Companies Inc. now owns 299,211 shares of the financial services provider’s stock valued at $22,115,000 after buying an additional 44,145 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Oppenheimer by 56.6% in the 4th quarter. Millennium Management LLC now owns 114,737 shares of the financial services provider’s stock valued at $8,294,000 after buying an additional 41,485 shares during the last quarter. Finally, Royce & Associates LP grew its stake in shares of Oppenheimer by 18.0% in the third quarter. Royce & Associates LP now owns 112,404 shares of the financial services provider’s stock valued at $8,308,000 after buying an additional 17,122 shares in the last quarter. 32.26% of the stock is owned by institutional investors and hedge funds.

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.