Oppenheimer (NYSE:OPY) Shares Gap Up – Here’s Why

Oppenheimer Holdings, Inc. (NYSE:OPY)’s stock price gapped up before the market opened on Wednesday. The stock had previously closed at $83.77, but opened at $92.54. Oppenheimer shares last traded at $90.7650, with a volume of 12,608 shares changing hands.

Analyst Upgrades and Downgrades

OPY has been the subject of a number of analyst reports. Wall Street Zen cut shares of Oppenheimer from a “buy” rating to a “hold” rating in a research note on Saturday. Needham & Company LLC upgraded shares of Oppenheimer to an “outperform” rating in a research note on Tuesday. Finally, Weiss Ratings raised shares of Oppenheimer from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Oppenheimer presently has an average rating of “Buy”.

Oppenheimer Stock Performance

The company has a market capitalization of $972.74 million, a PE ratio of 12.22 and a beta of 1.12. The stock has a fifty day moving average of $112.69 and a 200 day moving average of $102.42.

Oppenheimer (NYSE:OPY) last announced its quarterly earnings data on Friday, October 30th. The financial services provider reported $1.81 earnings per share (EPS) for the quarter. Oppenheimer had a net margin of 4.94% and a return on equity of 19.02%. The business had revenue of $382.00 million during the quarter.

Oppenheimer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, November 13th. Oppenheimer’s dividend payout ratio (DPR) is presently 10.77%.

Institutional Trading of Oppenheimer

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC purchased a new position in shares of Oppenheimer during the first quarter valued at about $1,590,000. Empowered Funds LLC increased its holdings in shares of Oppenheimer by 48.6% in the first quarter. Empowered Funds LLC now owns 46,066 shares of the financial services provider’s stock worth $4,109,000 after purchasing an additional 15,073 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Oppenheimer by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 497,033 shares of the financial services provider’s stock worth $44,329,000 after buying an additional 7,384 shares in the last quarter. Engineers Gate Manager LP lifted its position in shares of Oppenheimer by 208.5% in 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. Finally, Sei Investments Co. lifted its position in shares of Oppenheimer by 57.9% in the first quarter. Sei Investments Co. now owns 12,532 shares of the financial services provider’s stock worth $1,118,000 after buying an additional 4,593 shares in the last quarter. 32.26% of the stock is currently owned by institutional investors.

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.