Oppenheimer (NYSE:OPY) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Oppenheimer Holdings, Inc. (NYSE:OPY) saw unusually-strong trading volume on Monday . Approximately 35,041 shares were traded during mid-day trading, a decline of 20% from the previous session’s volume of 43,880 shares.The stock last traded at $66.98 and had previously closed at $65.63.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OPY. Weiss Ratings reissued a “buy (b-)” rating on shares of Oppenheimer in a research note on Wednesday, October 8th. Wall Street Zen lowered Oppenheimer from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy”.

Oppenheimer Price Performance

The stock has a fifty day moving average price of $70.55 and a 200 day moving average price of $69.03. The stock has a market capitalization of $702.59 million, a P/E ratio of 8.66 and a beta of 1.22.

Oppenheimer (NYSE:OPY) last posted its quarterly earnings data on Friday, October 31st. The financial services provider reported $1.90 earnings per share (EPS) for the quarter. Oppenheimer had a return on equity of 10.13% and a net margin of 5.88%.The company had revenue of $401.94 million during the quarter.

Oppenheimer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a $0.18 dividend. The ex-dividend date is Friday, November 14th. This represents a $0.72 annualized dividend and a yield of 1.1%. Oppenheimer’s dividend payout ratio (DPR) is 9.66%.

Institutional Investors Weigh In On Oppenheimer

Several hedge funds have recently bought and sold shares of OPY. Penn Capital Management Company LLC bought a new position in shares of Oppenheimer during the third quarter valued at $640,000. Caxton Associates LLP grew its holdings in Oppenheimer by 47.0% during the third quarter. Caxton Associates LLP now owns 5,083 shares of the financial services provider’s stock valued at $376,000 after purchasing an additional 1,626 shares during the period. Voleon Capital Management LP bought a new stake in Oppenheimer during the 3rd quarter worth approximately $955,000. Verition Fund Management LLC lifted its stake in shares of Oppenheimer by 99.2% during the 3rd quarter. Verition Fund Management LLC now owns 6,828 shares of the financial services provider’s stock valued at $505,000 after buying an additional 3,401 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Oppenheimer by 95.3% in the third quarter. Qube Research & Technologies Ltd now owns 21,701 shares of the financial services provider’s stock worth $1,604,000 after acquiring an additional 10,591 shares during the period. Institutional investors own 32.26% of the company’s stock.

Oppenheimer Company Profile

Oppenheimer Holdings Inc operates as a middle-market investment bank and full-service broker-dealer in the Americas, Europe, the Middle East, and Asia. The company provides brokerage services covering corporate equity and debt securities, money market instruments, exchange-traded options and futures contracts, municipal bonds, mutual funds, exchange-traded funds, and unit investment trusts; financial and wealth planning services; and margin lending services.