Oppenheimer (NYSE:OPY) Stock Price Down 10.6% - Should You Sell?

Key Points

• Oppenheimer (NYSE:OPY) shares plunged 10.6% on Monday, trading as low as $97.77 and last at about $95.51 on light volume (21,183 shares, down ~64% vs. average).
• The company reported quarterly EPS of $4.21 on $445.1 million of revenue and raised its quarterly dividend to $0.20 (annualized $0.80, ~0.8% yield).
• Analysts' consensus remains a Buy with recent upgrades (Wall Street Zen to strong-buy; Weiss to buy), while insiders own ~34.9% of shares but an insider recently sold 4,673 shares and institutional ownership is ~32.3%.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) fell 10.6% during trading on Monday . The company traded as low as $97.77 and last traded at $95.5070. 21,183 shares changed hands during trading, a decline of 64% from the average session volume of 58,327 shares. The stock had previously closed at $106.81.

Analyst Ratings Changes

A number of analysts have recently commented on OPY shares. Wall Street Zen raised shares of Oppenheimer from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 7th. Weiss Ratings upgraded Oppenheimer from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, April 21st. Finally, Cantor Fitzgerald downgraded Oppenheimer to a "buy" rating in a research note on Wednesday, January 7th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Oppenheimer currently has an average rating of "Buy".

Oppenheimer Trading Down 9.8%

The business has a 50-day moving average price of $95.11 and a two-hundred day moving average price of $81.53. The stock has a market capitalization of $1.03 billion, a P/E ratio of 11.48 and a beta of 1.19.

Oppenheimer (NYSE:OPY - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The financial services provider reported $4.21 earnings per share for the quarter. Oppenheimer had a return on equity of 17.61% and a net margin of 5.66%.The business had revenue of $445.10 million during the quarter.

Oppenheimer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, May 15th. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. This is an increase from Oppenheimer's previous quarterly dividend of $0.18. Oppenheimer's dividend payout ratio is currently 8.58%.

Insider Transactions at Oppenheimer

In other Oppenheimer news, insider Dennis P. Mcnamara sold 4,673 shares of the company's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $90.67, for a total value of $423,700.91. Following the completion of the transaction, the insider owned 20,177 shares of the company's stock, valued at $1,829,448.59. This represents a 18.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 34.86% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Oppenheimer

A number of institutional investors and hedge funds have recently bought and sold shares of OPY. American Century Companies Inc. increased its holdings in Oppenheimer by 17.3% in the 3rd quarter. American Century Companies Inc. now owns 299,211 shares of the financial services provider's stock worth $22,115,000 after purchasing an additional 44,145 shares in the last quarter. Millennium Management LLC increased its holdings in Oppenheimer by 56.6% in the 4th quarter. Millennium Management LLC now owns 114,737 shares of the financial services provider's stock worth $8,294,000 after purchasing an additional 41,485 shares in the last quarter. State Street Corp increased its holdings in Oppenheimer by 109.6% in the 4th quarter. State Street Corp now owns 67,421 shares of the financial services provider's stock worth $4,941,000 after purchasing an additional 35,250 shares in the last quarter. Marshall Wace LLP acquired a new position in Oppenheimer in the 2nd quarter worth about $2,016,000. Finally, Algert Global LLC increased its holdings in Oppenheimer by 726.5% in the 3rd quarter. Algert Global LLC now owns 33,779 shares of the financial services provider's stock worth $2,497,000 after purchasing an additional 29,692 shares in the last quarter. Institutional investors and hedge funds own 32.26% of the company's stock.

About Oppenheimer

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.

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