Oppenheimer (NYSE:OPY) Sees Large Volume Increase - What's Next?

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 70,372 shares traded hands during 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 Stock Up 0.0%

The stock has a fifty day moving average price of $61.34 and a two-hundred day moving average price of $62.69. The company has a market capitalization of $659.06 million, a price-to-earnings ratio of 9.32 and a beta of 1.22.

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

Oppenheimer Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Friday, May 9th. Oppenheimer's payout ratio is 10.71%.

Insider Transactions at Oppenheimer

In other news, Director Paul M. Friedman sold 3,500 shares of the company's 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 completion of the sale, the director now directly owns 20,500 shares in the company, valued at $1,298,060. This represents a 14.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 34.25% of the company's stock.

Hedge Funds Weigh In On Oppenheimer

A number of large investors have recently modified their holdings of the company. D. E. Shaw & Co. Inc. grew its stake 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 valued at $2,169,000 after buying an additional 10,387 shares in the last quarter. American Century Companies Inc. boosted its holdings 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 valued at $12,431,000 after purchasing an additional 26,686 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Oppenheimer by 74.0% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,649 shares of the financial services provider's stock valued at $1,259,000 after purchasing an additional 8,359 shares in the last quarter. Boston Partners purchased a new stake in Oppenheimer during the 4th quarter worth approximately $822,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of Oppenheimer in the 4th quarter valued at approximately $224,000. 32.26% of the stock is currently owned by hedge funds and other institutional investors.

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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