Oppenheimer (NYSE:OPY) Shares Pass Above 200 Day Moving Average - Here's What Happened

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $63.12 and traded as high as $73.23. Oppenheimer shares last traded at $72.98, with a volume of 67,152 shares changing hands.

Oppenheimer Stock Performance

The firm has a fifty day simple moving average of $65.83 and a 200-day simple moving average of $63.42. The firm has a market cap of $768.88 million, a price-to-earnings ratio of 10.88 and a beta of 1.20.

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

Oppenheimer Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, May 9th. Oppenheimer's dividend payout ratio is currently 10.71%.

Insider Buying and Selling at Oppenheimer

In other news, Director Paul M. Friedman sold 3,500 shares of Oppenheimer 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 owned 20,500 shares of the company's stock, valued at approximately $1,298,060. This trade represents a 14.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 34.25% of the company's stock.

Institutional Investors Weigh In On Oppenheimer

A number of hedge funds and other institutional investors have recently modified their holdings of OPY. Boston Partners increased its position in shares of 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 during the period. Royce & Associates LP increased its position in shares of 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 period. Invesco Ltd. increased its position in shares of 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 period. American Century Companies Inc. increased its position in shares of Oppenheimer by 17.2% in 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 during the period. Finally, Boothbay Fund Management LLC bought a new position in shares of Oppenheimer in the fourth quarter worth $1,717,000. Institutional investors and hedge funds own 32.26% of the company's stock.

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.