Oppenheimer (NYSE:OPY) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Oppenheimer shares moved above their 200-day moving average of $104.45, reaching $120.53 before last trading at approximately $112.95. The stock has a $1.21 billion market capitalization and a P/E ratio of 12.75.
• Analyst sentiment is positive: Weiss Ratings and Wall Street Zen upgraded the stock, and the two analysts covering Oppenheimer give it a consensus “Buy” rating.
• Oppenheimer reported quarterly EPS of $3.98 on $454.88 million in revenue, while maintaining a quarterly dividend of $0.20, equivalent to an annualized $0.80 payout and a 0.7% yield.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $104.45 and traded as high as $120.53. Oppenheimer shares last traded at $112.9460, with a volume of 179,217 shares changing hands.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Weiss Ratings raised shares of Oppenheimer from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Wall Street Zen raised Oppenheimer from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Oppenheimer presently has a consensus rating of "Buy".

Oppenheimer Price Performance

The firm has a market capitalization of $1.21 billion, a P/E ratio of 12.75 and a beta of 1.10. The firm has a 50-day moving average price of $115.63 and a two-hundred day moving average price of $104.45.

Oppenheimer (NYSE:OPY - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The financial services provider reported $3.98 EPS for the quarter. The firm had revenue of $454.88 million for the quarter. Oppenheimer had a net margin of 5.72% and a return on equity of 19.51%.

Oppenheimer Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.80 annualized dividend and a yield of 0.7%. Oppenheimer's dividend payout ratio is 9.03%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in OPY. Lazard Asset Management LLC acquired a new position in shares of Oppenheimer in the 1st quarter valued at $1,590,000. Empowered Funds LLC lifted its position in Oppenheimer by 48.6% during the 1st quarter. Empowered Funds LLC now owns 46,066 shares of the financial services provider's stock worth $4,109,000 after acquiring an additional 15,073 shares during the period. Dimensional Fund Advisors LP grew its stake in Oppenheimer by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 497,033 shares of the financial services provider's stock valued at $44,329,000 after purchasing an additional 7,384 shares during the last quarter. Engineers Gate Manager LP grew its stake in Oppenheimer by 208.5% during the 2nd quarter. Engineers Gate Manager LP now owns 10,026 shares of the financial services provider's stock valued at $1,058,000 after purchasing an additional 6,776 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Oppenheimer by 9.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 72,035 shares of the financial services provider's stock valued at $6,425,000 after purchasing an additional 5,971 shares during the last quarter. 32.26% of the stock is currently owned by hedge funds and other institutional investors.

About Oppenheimer

Oppenheimer Holdings Inc NYSE: OPY is a diversified financial services company and the parent of Oppenheimer & Co Inc, a full-service investment banking and wealth management firm headquartered in New York. The company serves corporations, institutional investors, public entities, high-net-worth individuals and other clients primarily through operations in the United States.

Its principal businesses include investment banking, institutional and retail brokerage, equity and fixed-income research, asset management, and financial planning.

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