Oppenheimer (NYSE:OPY) Sees Large Volume Increase - Here's Why

Key Points

• Strong quarterly results: Oppenheimer reported quarterly EPS of $4.21 on $445.1 million in revenue, and the stock trades at a P/E of 8.28 with a market cap of about $1.15 billion.
• Analyst sentiment is positive: The consensus rating is "Buy" with recent upgrades including Wall Street Zen to "Strong-Buy" and Weiss to "Buy."
• Trading and insider activity: Intraday volume rose about 5% to ~59,955 shares and the stock last traded at $111.80 (prior close $114.48); insider Dennis P. McNamara sold 4,673 shares, and insiders hold roughly 34.9% of shares.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) shares saw strong trading volume on Friday . 59,955 shares traded hands during mid-day trading, an increase of 5% from the previous session's volume of 57,332 shares.The stock last traded at $111.80 and had previously closed at $114.48.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on OPY shares. Wall Street Zen raised shares of Oppenheimer from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 7th. Cantor Fitzgerald lowered shares of Oppenheimer to a "buy" rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings raised shares of Oppenheimer from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Oppenheimer presently has a consensus rating of "Buy".

Oppenheimer Stock Performance

The business's 50 day simple moving average is $95.11 and its 200-day simple moving average is $81.36. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 8.28 and a beta of 1.14.

Oppenheimer (NYSE:OPY - Get Free Report) last issued its earnings results on Friday, May 1st. The financial services provider reported $4.21 earnings per share (EPS) for the quarter. The company had revenue of $445.10 million during the quarter. Oppenheimer had a net margin of 9.06% and a return on equity of 16.10%.

Insider Activity

In related news, insider Dennis P. Mcnamara sold 4,673 shares of Oppenheimer 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 owned 20,177 shares of the company's stock, valued at approximately $1,829,448.59. The trade was a 18.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 34.86% of the company's stock.

Institutional Investors Weigh In On Oppenheimer

Institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue acquired a new stake in shares of Oppenheimer in the 3rd quarter valued at $31,000. Arax Advisory Partners lifted its stake in shares of Oppenheimer by 47,700.0% in the 4th quarter. Arax Advisory Partners now owns 478 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 477 shares during the last quarter. Torren Management LLC acquired a new stake in shares of Oppenheimer in the 4th quarter valued at $38,000. Barclays PLC acquired a new stake in shares of Oppenheimer in the 4th quarter valued at $40,000. Finally, Clearstead Advisors LLC raised its holdings in Oppenheimer by 193.9% in the 4th quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider's stock worth $45,000 after acquiring an additional 415 shares during the period. Institutional investors and hedge funds own 32.26% of the company's stock.

About Oppenheimer

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.