Oppenheimer (NYSE:OPY) Sees Unusually-High Trading Volume - What's Next?

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) saw an uptick in trading volume on Friday . 70,372 shares changed hands during mid-day trading, an increase of 97% from the previous session's volume of 35,695 shares.The stock last traded at $63.00 and had previously closed at $62.64.

Oppenheimer Trading Up 2.4%

The company's 50 day simple moving average is $61.52 and its 200-day simple moving average is $62.63. The firm has a market cap of $678.11 million, a P/E ratio of 9.59 and a beta of 1.22.

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

Oppenheimer Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, May 9th. Oppenheimer's payout ratio is currently 10.71%.

Insider Buying and Selling at Oppenheimer

In related news, Director Paul M. Friedman sold 3,500 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $63.32, for a total transaction of $221,620.00. Following the completion of the sale, the director now directly owns 20,500 shares in the company, valued at approximately $1,298,060. The trade was a 14.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 34.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Oppenheimer

A number of hedge funds have recently modified their holdings of the business. D. E. Shaw & Co. Inc. raised its holdings in Oppenheimer by 44.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 33,843 shares of the financial services provider's stock worth $2,169,000 after purchasing an additional 10,387 shares during the period. American Century Companies Inc. increased its position in Oppenheimer by 16.0% in the fourth quarter. American Century Companies Inc. now owns 193,956 shares of the financial services provider's stock worth $12,431,000 after buying an additional 26,686 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Oppenheimer by 74.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,649 shares of the financial services provider's stock worth $1,259,000 after buying an additional 8,359 shares during the period. Boston Partners purchased a new position in shares of Oppenheimer during the 4th quarter valued at about $822,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in shares of Oppenheimer during the 4th quarter valued at about $224,000. Institutional investors own 32.26% of the company's stock.

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.