Oppenheimer (NYSE:OPY) Sets New 52-Week High - Should You Buy?

Key Points

• Oppenheimer's stock reached a new 52-week high at $78.67 during trading, reflecting an increase from its previous close at $76.65.
• Analysts upgraded Oppenheimer from a "hold" rating to a "strong-buy" rating, indicating increasing confidence in the company's prospects.
• The recent quarterly earnings report showed an EPS of $1.91 with a net margin of 5.88% and a revenue of $373.18 million, contributing to a market cap of $829.29 million.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $78.67 and last traded at $78.35, with a volume of 10536 shares. The stock had previously closed at $76.65.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Oppenheimer from a "hold" rating to a "strong-buy" rating in a research note on Sunday, August 10th.

Oppenheimer Trading Up 2.8%

The stock has a 50 day simple moving average of $71.69 and a 200-day simple moving average of $64.81. The firm has a market cap of $829.29 million, a PE ratio of 10.22 and a beta of 1.21.

Oppenheimer (NYSE:OPY - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The financial services provider reported $1.91 EPS for the quarter. Oppenheimer had a net margin of 5.88% and a return on equity of 10.13%. The business had revenue of $373.18 million during the quarter.

Oppenheimer Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, August 15th. Oppenheimer's dividend payout ratio is 9.34%.

Insider Activity at Oppenheimer

In related news, insider Dennis P. Mcnamara sold 2,000 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $73.81, for a total value of $147,620.00. Following the completion of the transaction, the insider owned 21,766 shares of the company's stock, valued at approximately $1,606,548.46. This trade represents a 8.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 34.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OPY. Tower Research Capital LLC TRC bought a new position in shares of Oppenheimer in the 2nd quarter valued at about $49,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Oppenheimer in the 4th quarter valued at about $77,000. Quantbot Technologies LP bought a new position in shares of Oppenheimer in the 2nd quarter valued at about $112,000. GAMMA Investing LLC lifted its holdings in shares of Oppenheimer by 8,364.5% in the 1st quarter. GAMMA Investing LLC now owns 2,624 shares of the financial services provider's stock valued at $156,000 after acquiring an additional 2,593 shares during the last quarter. Finally, Caxton Associates LLP bought a new position in shares of Oppenheimer in the 1st quarter valued at about $206,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.