Oppenheimer (NYSE:OPY) Posts Quarterly Earnings Results

Oppenheimer (NYSE:OPY) released its quarterly earnings data on Friday. The financial services provider reported $1.81 earnings per share for the quarter, FiscalAI reports. Oppenheimer had a return on equity of 19.51% and a net margin of 5.72%. The firm had revenue of $382.00 million during the quarter.

Oppenheimer Stock Down 19.7%

OPY traded down $21.26 on Friday, reaching $86.68. The company had a trading volume of 179,915 shares, compared to its average volume of 90,999. Oppenheimer has a 1 year low of $63.81 and a 1 year high of $125.88. The stock has a market capitalization of $928.37 million, a PE ratio of 9.74 and a beta of 1.10. The stock has a 50-day moving average price of $114.37 and a 200-day moving average price of $102.23.

Analyst Upgrades and Downgrades

OPY has been the subject of several recent research reports. Wall Street Zen upgraded shares of Oppenheimer from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Weiss Ratings raised Oppenheimer from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

Institutional Investors Weigh In On Oppenheimer

Large investors have recently modified their holdings of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Oppenheimer in the 3rd quarter valued at about $755,000. Signaturefd LLC boosted its position in Oppenheimer by 103.0% during the third quarter. Signaturefd LLC now owns 603 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 306 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Oppenheimer by 138.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,076 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 625 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Oppenheimer during the 2nd quarter worth approximately $207,000. Finally, Engineers Gate Manager LP increased its position in Oppenheimer by 208.5% during the second quarter. Engineers Gate Manager LP now owns 10,026 shares of the financial services provider’s stock worth $1,058,000 after buying an additional 6,776 shares in the last quarter. Hedge funds and other institutional investors own 32.26% of the company’s stock.

Oppenheimer Company Profile

Oppenheimer Holdings Inc is a diversified financial services company that operates primarily through its subsidiaries, including Oppenheimer & Co Inc and Oppenheimer Asset Management Inc The company provides investment banking, securities brokerage, wealth management and asset management services to individual investors, businesses, institutional clients and government entities.

Its investment banking activities include public and private securities offerings, mergers and acquisitions advisory services, financial restructuring and municipal finance.