Oppenheimer (NYSE:OPY) Shares Cross Above 200-Day Moving Average - Time to Sell?

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $62.72 and traded as high as $66.87. Oppenheimer shares last traded at $65.60, with a volume of 102,307 shares.

Oppenheimer Trading Up 1.0%

The firm has a market capitalization of $699.11 million, a P/E ratio of 9.89 and a beta of 1.22. The stock has a 50-day simple moving average of $62.64 and a two-hundred day simple moving average of $62.72.

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

Oppenheimer Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a $0.18 dividend. The ex-dividend date was Friday, May 9th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.08%. Oppenheimer's dividend payout ratio is presently 10.71%.

Insider Activity at Oppenheimer

In related news, Director Paul M. Friedman sold 3,500 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $63.32, for a total transaction of $221,620.00. Following the sale, the director owned 20,500 shares of the company's stock, valued at $1,298,060. This trade represents a 14.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 34.25% of the company's stock.

Institutional Trading of Oppenheimer

Several hedge funds have recently modified their holdings of OPY. Boston Partners raised its stake in shares of Oppenheimer by 457.7% during the 1st quarter. Boston Partners now owns 71,568 shares of the financial services provider's stock worth $4,268,000 after acquiring an additional 58,735 shares in the last quarter. Royce & Associates LP grew its holdings in Oppenheimer by 114.8% in the first quarter. Royce & Associates LP now owns 80,551 shares of the financial services provider's stock worth $4,803,000 after purchasing an additional 43,050 shares during the last quarter. Invesco Ltd. grew its holdings in Oppenheimer by 864.7% in the first quarter. Invesco Ltd. now owns 41,596 shares of the financial services provider's stock worth $2,480,000 after purchasing an additional 37,284 shares during the last quarter. American Century Companies Inc. increased its position in shares of Oppenheimer by 17.2% during the first quarter. American Century Companies Inc. now owns 227,389 shares of the financial services provider's stock worth $13,559,000 after purchasing an additional 33,433 shares in the last quarter. Finally, Arbiter Partners Capital Management LLC lifted its holdings in shares of Oppenheimer by 117.0% during the 4th quarter. Arbiter Partners Capital Management LLC now owns 49,683 shares of the financial services provider's stock valued at $3,184,000 after purchasing an additional 26,783 shares during the last quarter. 32.26% of the stock is owned by hedge funds and other institutional investors.

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.