Oppenheimer (NYSE:OPY) Upgraded by Wall Street Zen to Strong-Buy Rating

Key Points

• Oppenheimer has been upgraded from a "hold" to a "strong-buy" rating by Wall Street Zen, indicating increased confidence in the stock's potential performance.
• The company's most recent earnings report showed an earnings per share of $1.91, with a net margin of 5.88% and revenue of $373.18 million for the quarter.
• Insider trading activity indicates a decrease in ownership, as directors sold shares at prices ranging between $63.32 and $73.81, reflecting mixed sentiment among company insiders.

Oppenheimer (NYSE:OPY - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "strong-buy" rating in a research report issued on Sunday.

Oppenheimer Stock Performance

Shares of NYSE:OPY traded down $1.51 during midday trading on Friday, hitting $71.73. 4,638 shares of the company's stock traded hands, compared to its average volume of 43,104. The company has a market cap of $754.66 million, a PE ratio of 9.30 and a beta of 1.24. The firm's fifty day moving average price is $68.22 and its two-hundred day moving average price is $63.98. Oppenheimer has a twelve month low of $47.39 and a twelve month high of $77.83.

Oppenheimer (NYSE:OPY - Get Free Report) last posted its earnings results on Friday, August 1st. The financial services provider reported $1.91 earnings per share for the quarter. Oppenheimer had a net margin of 5.88% and a return on equity of 10.13%. The business had revenue of $373.18 million for the quarter.

Insider Transactions at Oppenheimer

In related news, Director Paul M. Friedman sold 3,500 shares of the business's stock in a transaction dated Monday, June 9th. The shares were 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 $1,298,060. This represents a 14.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dennis P. Mcnamara sold 2,000 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $73.81, for a total transaction of $147,620.00. Following the sale, the insider directly owned 21,766 shares of the company's stock, valued at approximately $1,606,548.46. This represents a 8.42% decrease in their position. The disclosure for this sale can be found here. 34.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Boston Partners lifted its stake in shares of Oppenheimer by 457.7% in 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 during the period. Royce & Associates LP lifted its stake in shares of Oppenheimer by 114.8% in the 1st quarter. Royce & Associates LP now owns 80,551 shares of the financial services provider's stock worth $4,803,000 after acquiring an additional 43,050 shares during the period. Invesco Ltd. lifted its stake in shares of Oppenheimer by 864.7% in the 1st quarter. Invesco Ltd. now owns 41,596 shares of the financial services provider's stock worth $2,480,000 after acquiring an additional 37,284 shares during the period. American Century Companies Inc. lifted its stake in shares of Oppenheimer by 17.2% in the 1st quarter. American Century Companies Inc. now owns 227,389 shares of the financial services provider's stock worth $13,559,000 after acquiring an additional 33,433 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Oppenheimer during the second quarter valued at approximately $2,016,000. Institutional investors 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.