Oppenheimer (NYSE:OPY) Hits New 52-Week High - Still a Buy?

Key Points

• Oppenheimer hit a new 52-week high of $95.21 (last $95.04), trading up about 4.2% on Tuesday with roughly 45,454 shares changing hands.
• Analyst sentiment is positive — Wall Street Zen upgraded to a strong-buy, Weiss reiterated a buy, and MarketBeat shows a consensus rating of Buy.
• Fundamentals: quarterly EPS was $6.51 on $472.63M revenue, P/E is 7.27 with a $1.02B market cap; the firm pays a $0.18 quarterly dividend (0.8% yield) and insiders recently sold shares while still owning 34.86%.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $95.21 and last traded at $95.0410, with a volume of 45454 shares changing hands. The stock had previously closed at $91.01.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Oppenheimer from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 7th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Oppenheimer in a research note on Thursday, January 22nd. Finally, Cantor Fitzgerald lowered shares of Oppenheimer to a "buy" rating in a research note on Wednesday, January 7th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, Oppenheimer presently has a consensus rating of "Buy".

Oppenheimer Trading Up 4.2%

The business's fifty day simple moving average is $86.68 and its two-hundred day simple moving average is $76.89. The stock has a market capitalization of $1.02 billion, a P/E ratio of 7.27 and a beta of 1.14.

Oppenheimer (NYSE:OPY - Get Free Report) last issued its quarterly earnings results on Friday, January 30th. The financial services provider reported $6.51 earnings per share for the quarter. Oppenheimer had a net margin of 9.06% and a return on equity of 16.10%. The firm had revenue of $472.63 million during the quarter.

Oppenheimer Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.72 dividend on an annualized basis and a yield of 0.8%. Oppenheimer's dividend payout ratio is 5.52%.

Insiders Place Their Bets

In other Oppenheimer news, insider Dennis P. Mcnamara sold 4,673 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $90.67, for a total value of $423,700.91. Following the completion of the sale, the insider directly owned 20,177 shares of the company's stock, valued at $1,829,448.59. This represents a 18.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 34.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Oppenheimer

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in shares of Oppenheimer by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 493,218 shares of the financial services provider's stock worth $36,456,000 after acquiring an additional 2,911 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Oppenheimer by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 426,033 shares of the financial services provider's stock worth $31,488,000 after acquiring an additional 10,345 shares during the period. American Century Companies Inc. lifted its holdings in shares of Oppenheimer by 17.3% during the 3rd quarter. American Century Companies Inc. now owns 299,211 shares of the financial services provider's stock worth $22,115,000 after acquiring an additional 44,145 shares during the period. Millennium Management LLC increased its position in shares of Oppenheimer by 56.6% during the 4th quarter. Millennium Management LLC now owns 114,737 shares of the financial services provider's stock worth $8,294,000 after purchasing an additional 41,485 shares in the last quarter. Finally, Royce & Associates LP lifted its holdings in Oppenheimer by 18.0% during the 3rd quarter. Royce & Associates LP now owns 112,404 shares of the financial services provider's stock valued at $8,308,000 after purchasing an additional 17,122 shares during the last quarter. 32.26% of the stock is owned by institutional investors.

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.

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