Oppenheimer (NYSE:OPY) Shares Pass Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Oppenheimer Holdings, Inc. (NYSE:OPY) shares crossed above their 200-day moving average, trading as high as $77.47 and closing at $76.61.
• The company reported earnings of $1.91 per share with a quarterly revenue of $373.18 million and a net margin of 5.88%.
• Oppenheimer announced a quarterly dividend of $0.18, resulting in an annualized yield of 0.9%, with a low dividend payout ratio of 9.34%.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $64.82 and traded as high as $77.47. Oppenheimer shares last traded at $76.61, with a volume of 29,696 shares trading hands.

Analyst Upgrades and Downgrades

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

Oppenheimer Trading Up 2.4%

The business's 50-day moving average is $72.62 and its two-hundred day moving average is $65.18. The stock has a market capitalization of $840.59 million, a PE ratio of 10.36 and a beta of 1.21.

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

Oppenheimer Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, August 15th. Oppenheimer's dividend payout ratio (DPR) is 9.34%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Oppenheimer

A number of hedge funds have recently bought and sold shares of OPY. Boston Partners grew its stake in Oppenheimer by 457.7% in the first quarter. Boston Partners now owns 71,568 shares of the financial services provider's stock worth $4,268,000 after purchasing an additional 58,735 shares in the last quarter. Royce & Associates LP boosted 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 acquiring an additional 43,050 shares during the period. Invesco Ltd. boosted its stake in Oppenheimer by 864.7% in the first quarter. Invesco Ltd. now owns 41,596 shares of the financial services provider's stock valued at $2,480,000 after acquiring an additional 37,284 shares during the period. American Century Companies Inc. boosted its stake in Oppenheimer by 17.2% in the first quarter. American Century Companies Inc. now owns 227,389 shares of the financial services provider's stock valued at $13,559,000 after acquiring an additional 33,433 shares during the period. Finally, Marshall Wace LLP acquired a new position in Oppenheimer in the second quarter valued at approximately $2,016,000. 32.26% of the stock is currently owned by institutional investors and hedge funds.

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.