Oppenheimer (NYSE:OPY) Reaches New 12-Month High - What's Next?

Key Points

• Oppenheimer Holdings, Inc. reached a new 52-week high of $74.34 during trading, closing at $73.74 with a market cap of $784.10 million.
• During the first quarter, several institutional investors significantly increased their stakes in Oppenheimer, with Boston Partners raising its position by 457.7%.
• Insider selling occurred when Director Paul M. Friedman sold 3,500 shares at an average price of $63.32, reducing his ownership in the company by 14.58%.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $74.34 and last traded at $73.74, with a volume of 18502 shares. The stock had previously closed at $72.84.

Oppenheimer Trading Up 2.3%

The company has a fifty day moving average of $65.83 and a two-hundred day moving average of $63.41. The stock has a market capitalization of $784.10 million, a price-to-earnings ratio of 11.09 and a beta of 1.20.

Oppenheimer (NYSE:OPY - Get Free Report) last issued its earnings results on Friday, April 25th. The financial services provider reported $2.72 EPS for the quarter. The business had revenue of $367.83 million during the quarter. Oppenheimer had a return on equity of 9.03% and a net margin of 5.26%.

Insider Activity at Oppenheimer

In other news, Director Paul M. Friedman sold 3,500 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $63.32, for a total transaction of $221,620.00. Following the sale, the director owned 20,500 shares in the company, valued at approximately $1,298,060. This represents a 14.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 34.25% of the company's stock.

Hedge Funds Weigh In On Oppenheimer

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OPY. Boston Partners raised its position in Oppenheimer by 457.7% in the 1st quarter. Boston Partners now owns 71,568 shares of the financial services provider's stock valued at $4,268,000 after buying an additional 58,735 shares during the last quarter. Royce & Associates LP grew its stake in Oppenheimer by 114.8% in the first quarter. Royce & Associates LP now owns 80,551 shares of the financial services provider's stock valued at $4,803,000 after purchasing an additional 43,050 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Oppenheimer by 864.7% during the 1st quarter. Invesco Ltd. now owns 41,596 shares of the financial services provider's stock worth $2,480,000 after acquiring an additional 37,284 shares during the period. American Century Companies Inc. boosted its stake in shares of Oppenheimer by 17.2% during the 1st 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 period. Finally, Boothbay Fund Management LLC bought a new position in shares of Oppenheimer during the 4th quarter worth approximately $1,717,000. 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.

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