Oppenheimer Holdings, Inc. (NYSE:OPY) Sees Significant Decrease in Short Interest

Key Points

• Oppenheimer Holdings experienced a **34.2% decline** in short interest in August, dropping from 103,400 shares to 68,000 shares, which constitutes approximately **1.2% of the company’s shares being short sold**.
• Wall Street Zen upgraded Oppenheimer's stock rating from **"hold" to "strong-buy"** on August 10th, indicating a positive outlook among analysts.
• The company announced a quarterly dividend of **$0.18**, representing a **0.9% yield**, with a payout ratio currently at **9.34%**.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 68,000 shares, a drop of 34.2% from the August 15th total of 103,400 shares. Based on an average daily volume of 60,500 shares, the days-to-cover ratio is currently 1.1 days. Approximately 1.2% of the shares of the company are sold short. Approximately 1.2% of the shares of the company are sold short. Based on an average daily volume of 60,500 shares, the days-to-cover ratio is currently 1.1 days.

Insider Buying and Selling at Oppenheimer

In other Oppenheimer news, insider Dennis P. Mcnamara sold 2,000 shares of Oppenheimer stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $73.81, for a total value of $147,620.00. Following the transaction, the insider directly owned 21,766 shares in the company, valued at approximately $1,606,548.46. This trade represents a 8.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 34.25% of the company's stock.

Hedge Funds Weigh In On Oppenheimer

Several hedge funds and other institutional investors have recently bought and sold shares of OPY. D. E. Shaw & Co. Inc. raised its holdings in shares of Oppenheimer by 44.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 33,843 shares of the financial services provider's stock worth $2,169,000 after acquiring an additional 10,387 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Oppenheimer by 1.5% in the first quarter. Vanguard Group Inc. now owns 391,435 shares of the financial services provider's stock worth $23,341,000 after acquiring an additional 5,666 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Oppenheimer by 17.2% in the first quarter. American Century Companies Inc. now owns 227,389 shares of the financial services provider's stock worth $13,559,000 after acquiring an additional 33,433 shares during the last quarter. Invesco Ltd. increased its stake in Oppenheimer by 864.7% in the first quarter. Invesco Ltd. now owns 41,596 shares of the financial services provider's stock valued at $2,480,000 after purchasing an additional 37,284 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Oppenheimer by 581.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 23,866 shares of the financial services provider's stock valued at $1,423,000 after purchasing an additional 20,366 shares during the last quarter. 32.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Oppenheimer from a "hold" rating to a "strong-buy" rating in a research note on Sunday, August 10th.

Oppenheimer Stock Down 1.6%

Shares of Oppenheimer stock traded down $1.29 during trading on Friday, reaching $78.56. The company's stock had a trading volume of 6,993 shares, compared to its average volume of 44,137. Oppenheimer has a 12-month low of $47.39 and a 12-month high of $79.99. The company has a market capitalization of $826.45 million, a P/E ratio of 10.19 and a beta of 1.21. The business has a 50 day moving average price of $72.62 and a 200-day moving average price of $65.18.

Oppenheimer (NYSE:OPY - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The financial services provider reported $1.91 earnings per share for the quarter. Oppenheimer had a return on equity of 10.13% and a net margin of 5.88%.The firm had revenue of $373.18 million for the quarter.

Oppenheimer Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.72 annualized dividend and a yield of 0.9%. Oppenheimer's payout ratio is currently 9.34%.

About Oppenheimer

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.