Oppenheimer (NYSE:OPY) Sees Strong Trading Volume – Should You Buy?

Oppenheimer Holdings, Inc. (NYSE:OPY) saw unusually-high trading volume on Tuesday . Approximately 49,107 shares changed hands during trading, a decline of 24% from the previous session’s volume of 64,749 shares.The stock last traded at $107.7650 and had previously closed at $107.05.

Analyst Upgrades and Downgrades

OPY has been the subject of a number of research reports. Weiss Ratings cut Oppenheimer from a “buy (b)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Wall Street Zen cut Oppenheimer from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

Oppenheimer Price Performance

The business has a 50-day simple moving average of $100.79 and a 200 day simple moving average of $87.52. The firm has a market cap of $1.16 billion, a PE ratio of 12.89 and a beta of 1.10.

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

Oppenheimer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a $0.20 dividend. The ex-dividend date was Friday, May 15th. This is a positive change from Oppenheimer’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 0.7%. Oppenheimer’s dividend payout ratio (DPR) is currently 9.54%.

Institutional Trading of Oppenheimer

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Arax Advisory Partners boosted its stake 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 worth $35,000 after acquiring an additional 477 shares during the period. Torren Management LLC bought a new position in Oppenheimer during the fourth quarter valued at approximately $38,000. Barclays PLC bought a new position in Oppenheimer during the fourth quarter valued at approximately $40,000. Clearstead Advisors LLC boosted its stake in Oppenheimer by 193.9% during the fourth 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 during the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in Oppenheimer during the second quarter valued at approximately $49,000. Hedge funds and other institutional investors own 32.26% of the company’s stock.

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.