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

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 research analysts at Wall Street Zen from a "hold" rating to a "strong-buy" rating in a research note issued on Sunday.

Oppenheimer Trading Up 0.8%

Shares of Oppenheimer stock opened at $71.88 on Friday. The firm has a fifty day simple moving average of $67.67 and a 200-day simple moving average of $63.92. Oppenheimer has a 1-year low of $47.39 and a 1-year high of $77.83. The stock has a market capitalization of $756.14 million, a price-to-earnings ratio of 9.32 and a beta of 1.24.

Oppenheimer (NYSE:OPY - Get Free Report) last issued its quarterly earnings data 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 during the quarter.

Insiders Place Their Bets

In related news, Director Paul M. Friedman sold 3,500 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $63.32, for a total transaction of $221,620.00. Following the transaction, the director owned 20,500 shares of the company's stock, valued at approximately $1,298,060. The trade was a 14.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Dennis P. Mcnamara sold 2,000 shares of the business's stock in a transaction 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 transaction, the insider directly owned 21,766 shares in the company, valued at $1,606,548.46. This trade represents a 8.42% decrease in their position. The disclosure for this sale can be found here. Insiders own 34.25% of the company's stock.

Hedge Funds Weigh In On Oppenheimer

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Inspire Investing LLC increased its position in Oppenheimer by 2.5% during the second quarter. Inspire Investing LLC now owns 5,965 shares of the financial services provider's stock worth $392,000 after acquiring an additional 145 shares during the period. Geode Capital Management LLC increased its holdings in Oppenheimer by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 67,885 shares of the financial services provider's stock valued at $4,467,000 after buying an additional 214 shares during the period. State of Wyoming increased its holdings in Oppenheimer by 10.9% in the 4th quarter. State of Wyoming now owns 4,403 shares of the financial services provider's stock valued at $282,000 after buying an additional 431 shares during the period. Jane Street Group LLC increased its holdings in Oppenheimer by 10.7% in the 4th quarter. Jane Street Group LLC now owns 6,900 shares of the financial services provider's stock valued at $442,000 after buying an additional 666 shares during the period. Finally, Tudor Investment Corp ET AL increased its holdings in Oppenheimer by 3.7% in the 4th quarter. Tudor Investment Corp ET AL now owns 22,825 shares of the financial services provider's stock valued at $1,463,000 after buying an additional 822 shares during the period. Institutional investors own 32.26% of the company's stock.

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.

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