Oppenheimer (NYSE:OPY) Sees Large Volume Increase – Time to Buy?

Shares of Oppenheimer Holdings, Inc. (NYSE:OPY) saw unusually-high trading volume on Tuesday . Approximately 87,164 shares changed hands during mid-day trading, an increase of 13% from the previous session’s volume of 77,048 shares.The stock last traded at $110.0050 and had previously closed at $110.02.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OPY. Wall Street Zen lowered Oppenheimer from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings raised shares of Oppenheimer from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy”.

Oppenheimer Price Performance

The firm has a market capitalization of $1.18 billion, a P/E ratio of 13.14 and a beta of 1.07. The firm has a 50-day moving average price of $105.63 and a two-hundred day moving average price of $96.22.

Oppenheimer (NYSE:OPY) last posted its quarterly earnings results on Friday, May 1st. The financial services provider reported $4.21 EPS for the quarter. Oppenheimer had a net margin of 5.66% and a return on equity of 17.49%. The firm had revenue of $445.10 million for the quarter.

Hedge Funds Weigh In On Oppenheimer

A number of hedge funds and other institutional investors have recently made changes to their positions in OPY. Arax Advisory Partners raised its holdings in shares of Oppenheimer by 47,700.0% in the fourth quarter. Arax Advisory Partners now owns 478 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 477 shares in the last quarter. Torren Management LLC bought a new position in Oppenheimer in the fourth quarter worth about $38,000. Barclays PLC purchased a new stake in shares of Oppenheimer during the fourth quarter valued at about $40,000. Clearstead Advisors LLC boosted its holdings in shares of Oppenheimer by 193.9% in the 4th quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider’s stock valued at $45,000 after buying an additional 415 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Oppenheimer in the 2nd quarter worth approximately $49,000. 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.