Oppenheimer (NYSE:OPY) Sees Unusually-High Trading Volume – What’s Next?

Oppenheimer Holdings, Inc. (NYSE:OPY) saw unusually-strong trading volume on Wednesday . Approximately 76,430 shares traded hands during mid-day trading, an increase of 40% from the previous session’s volume of 54,762 shares.The stock last traded at $117.4230 and had previously closed at $113.86.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OPY. Weiss Ratings raised Oppenheimer from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday. Cantor Fitzgerald lowered shares of Oppenheimer to a “buy” rating in a report on Wednesday, January 7th. Finally, Wall Street Zen raised shares of Oppenheimer from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 7th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Oppenheimer Stock Down 7.2%

The firm has a 50-day moving average price of $92.77 and a two-hundred day moving average price of $79.95. The firm has a market cap of $1.12 billion, a PE ratio of 8.01 and a beta of 1.14.

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

Oppenheimer Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, February 13th. Oppenheimer’s dividend payout ratio is currently 5.52%.

Insider Buying and Selling

In related news, insider Dennis P. Mcnamara sold 4,673 shares of the 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 of the company’s stock, valued at approximately $1,829,448.59. This represents a 18.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 34.86% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OPY. Goldman Sachs Group Inc. raised its stake in Oppenheimer by 39.2% in the 1st 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 last quarter. Caxton Associates LLP acquired a new position in Oppenheimer in the 1st quarter valued at $206,000. Empowered Funds LLC raised its stake in Oppenheimer by 5.3% in the 1st quarter. Empowered Funds LLC now owns 36,347 shares of the financial services provider’s stock valued at $2,167,000 after purchasing an additional 1,836 shares during the last quarter. Geode Capital Management LLC raised its stake in Oppenheimer by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 67,885 shares of the financial services provider’s stock valued at $4,467,000 after purchasing an additional 214 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Oppenheimer by 146.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 44,842 shares of the financial services provider’s stock valued at $2,949,000 after purchasing an additional 26,643 shares during 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.