Oppenheimer (NYSE:OPY) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Oppenheimer's stock price recently surpassed its 200-day moving average of $66.69, reaching a high of $68.49 during trading.
• Wall Street analysts have upgraded Oppenheimer's rating, with Wall Street Zen moving it from "hold" to "strong-buy" and the company receiving a consensus rating of "Buy."
• The company announced a quarterly dividend of $0.18 per share, resulting in an annualized yield of 1.1% and a payout ratio of 9.34%.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $66.69 and traded as high as $68.49. Oppenheimer shares last traded at $68.32, with a volume of 57,261 shares.

Wall Street Analyst Weigh In

OPY has been the topic of a number of recent research reports. Wall Street Zen raised shares of Oppenheimer from a "hold" rating to a "strong-buy" rating in a report on Sunday, August 10th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Oppenheimer in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy".

Oppenheimer Stock Performance

The company has a market capitalization of $718.73 million, a PE ratio of 8.86 and a beta of 1.18. The stock's fifty day simple moving average is $73.07 and its 200-day simple moving average is $66.69.

Oppenheimer (NYSE:OPY - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The financial services provider reported $1.91 earnings per share for the quarter. The business 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 disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.72 annualized dividend and a yield of 1.1%. Oppenheimer's dividend payout ratio (DPR) is 9.34%.

Insider Activity at Oppenheimer

In other news, insider Dennis P. Mcnamara sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $73.81, for a total transaction 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 represents a 8.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 34.25% of the company's stock.

Institutional Investors Weigh In On Oppenheimer

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC acquired a new position in shares of Oppenheimer during the second quarter valued at $49,000. Quantbot Technologies LP purchased a new position in Oppenheimer in the 2nd quarter worth about $112,000. GAMMA Investing LLC increased its stake in Oppenheimer by 8,364.5% in the 1st quarter. GAMMA Investing LLC now owns 2,624 shares of the financial services provider's stock worth $156,000 after purchasing an additional 2,593 shares in the last quarter. Caxton Associates LLP purchased a new position in Oppenheimer in the 1st quarter worth about $206,000. Finally, AlphaQuest LLC purchased a new position in Oppenheimer in the 2nd quarter worth about $223,000. 32.26% of the stock is owned by institutional investors and hedge funds.

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.