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

Key Points

• Oppenheimer Holdings shares moved above their 200-day moving average, trading as high as $116.52 and last around $116.37, signaling renewed technical strength after sitting below the $93.00 long-term average.
• Analyst sentiment has recently softened, with Wall Street Zen and Weiss Ratings both downgrading the stock to hold, even though MarketBeat still shows a consensus rating of Moderate Buy.
• The company posted solid recent fundamentals, including Q1 EPS of $4.21 on $445.1 million in revenue, and it raised its quarterly dividend to $0.20 per share from $0.18.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $93.00 and traded as high as $116.52. Oppenheimer shares last traded at $116.3740, with a volume of 119,825 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wall Street Zen lowered Oppenheimer from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings cut Oppenheimer from a "buy (b)" rating to a "hold (c+)" rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Oppenheimer currently has a consensus rating of "Moderate Buy".

Oppenheimer Trading Up 1.1%

The company has a market capitalization of $1.25 billion, a P/E ratio of 13.87 and a beta of 1.07. The company's fifty day moving average is $101.64 and its 200 day moving average is $93.00.

Oppenheimer (NYSE:OPY - Get Free Report) last issued its earnings results on Friday, May 1st. The financial services provider reported $4.21 earnings per share (EPS) for the quarter. The business had revenue of $445.10 million for the quarter. Oppenheimer had a net margin of 5.66% and a return on equity of 17.49%.

Oppenheimer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, May 15th. This is a positive change from Oppenheimer's previous quarterly dividend of $0.18. Oppenheimer's dividend payout ratio is presently 9.54%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in OPY. Arax Advisory Partners increased its position in shares of Oppenheimer by 47,700.0% during the fourth quarter. Arax Advisory Partners now owns 478 shares of the financial services provider's stock valued at $35,000 after buying an additional 477 shares during the period. Torren Management LLC bought a new position in shares of Oppenheimer in the fourth quarter valued at approximately $38,000. Barclays PLC purchased a new position in Oppenheimer during the fourth quarter valued at approximately $40,000. Clearstead Advisors LLC grew its stake in Oppenheimer by 193.9% during the fourth quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 415 shares in the last quarter. Finally, Tower Research Capital LLC TRC bought a new stake in Oppenheimer during the 2nd quarter worth approximately $49,000. Institutional investors own 32.26% of the company's stock.

Oppenheimer Company Profile

Oppenheimer & Co Inc is a full-service investment bank and wealth management firm headquartered in New York City. Founded in the mid-20th century, the company provides a broad array of financial services to individual, institutional and corporate clients. Its core competencies include equity and fixed-income research, institutional sales and trading, underwriting and merger-and-acquisition advisory.

In the wealth management segment, Oppenheimer offers tailored investment solutions, comprehensive financial planning and retirement strategies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.