Oppenheimer (NYSE:OPY) Stock Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Oppenheimer shares crossed above their 200-day moving average, reaching $116.75 before closing at $114.06, compared with a 200-day average of $108.17.
• Analyst sentiment is positive: Weiss Ratings and Wall Street Zen upgraded the stock, and the two covering analysts collectively assign it a “Buy” consensus rating.
• The company reported quarterly EPS of $3.98 on $454.88 million in revenue and maintains a quarterly dividend of $0.20, equal to a 0.7% annual yield.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) shares passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $108.17 and traded as high as $116.75. Oppenheimer shares last traded at $114.06, with a volume of 93,059 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OPY. 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 upgraded Oppenheimer from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Two investment analysts have rated the stock with a Buy rating. According to MarketBeat, the stock presently has a consensus rating of "Buy".

Oppenheimer Trading Down 2.0%

The stock has a market cap of $1.22 billion, a PE ratio of 12.87 and a beta of 1.10. The business has a 50-day moving average price of $117.63 and a 200-day moving average price of $108.17.

Oppenheimer (NYSE:OPY - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The financial services provider reported $3.98 earnings per share (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 business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.20 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.7%. Oppenheimer's dividend payout ratio (DPR) is 9.03%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Tidal Investments LLC purchased a new position in Oppenheimer in the 2nd quarter valued at about $207,000. Engineers Gate Manager LP raised its holdings in shares of Oppenheimer by 208.5% during the second quarter. Engineers Gate Manager LP now owns 10,026 shares of the financial services provider's stock valued at $1,058,000 after acquiring an additional 6,776 shares during the last quarter. Allianz Asset Management GmbH acquired a new position in shares of Oppenheimer during the second quarter valued at approximately $408,000. Empowered Funds LLC lifted its position in shares of Oppenheimer by 48.6% in the first quarter. Empowered Funds LLC now owns 46,066 shares of the financial services provider's stock valued at $4,109,000 after acquiring an additional 15,073 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Oppenheimer in the first quarter valued at approximately $1,590,000. Institutional investors and hedge funds own 32.26% of the company's stock.

Oppenheimer Company Profile

Oppenheimer Holdings Inc NYSE: OPY is a financial services holding company that operates primarily through Oppenheimer & Co Inc The company provides wealth management, investment banking, capital markets, institutional sales and trading, equity and fixed-income research, and asset management services.

Its wealth management business serves individuals, families, businesses, trusts, and institutions with brokerage, financial planning, portfolio management, and related advisory services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.