Oppenheimer (NYSE:OPY) Stock Crosses Below 200 Day Moving Average - What's Next?

Key Points

• Oppenheimer shares fell below their 200-day moving average of $102.29, trading as low as $83.12 and last changing hands at $85.96.
• Despite the technical weakness, the stock carries an average analyst rating of “Buy”, with two analysts currently recommending it.
• Oppenheimer reported quarterly earnings of $1.81 per share on $382 million in revenue, while institutional investors own approximately 32.26% of the company.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $102.29 and traded as low as $83.12. Oppenheimer shares last traded at $85.96, with a volume of 264,166 shares trading hands.

Analyst Ratings Changes

OPY has been the topic of a number of research reports. Weiss Ratings raised 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. Based on data from MarketBeat.com, the stock has an average rating of "Buy".

Oppenheimer Stock Performance

The business has a 50 day simple moving average of $113.84 and a 200-day simple moving average of $102.29. The firm has a market cap of $920.46 million, a price-to-earnings ratio of 9.70 and a beta of 1.10.

Oppenheimer (NYSE:OPY - Get Free Report) last announced its earnings results on Friday, October 30th. The financial services provider reported $1.81 earnings per share for the quarter. The firm had revenue of $382.00 million for the quarter. Oppenheimer had a return on equity of 19.51% and a net margin of 5.72%.

Institutional Trading of Oppenheimer

A number of large investors have recently bought and sold shares of OPY. Signaturefd LLC raised its stake in Oppenheimer by 103.0% in the third quarter. Signaturefd LLC now owns 603 shares of the financial services provider's stock valued at $71,000 after purchasing an additional 306 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Oppenheimer by 138.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,076 shares of the financial services provider's stock worth $127,000 after purchasing an additional 625 shares during the period. Tidal Investments LLC purchased a new stake in Oppenheimer during the 2nd quarter valued at $207,000. DGS Capital Management LLC grew its stake in shares of Oppenheimer by 2.7% in the first quarter. DGS Capital Management LLC now owns 3,681 shares of the financial services provider's stock worth $328,000 after purchasing an additional 97 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new stake in Oppenheimer in the second quarter valued at $408,000. 32.26% of the stock is owned by hedge funds and other institutional investors.

Oppenheimer Company Profile

Oppenheimer Holdings Inc is a diversified financial services company that operates primarily through its subsidiaries, including Oppenheimer & Co Inc and Oppenheimer Asset Management Inc The company provides investment banking, securities brokerage, wealth management and asset management services to individual investors, businesses, institutional clients and government entities.

Its investment banking activities include public and private securities offerings, mergers and acquisitions advisory services, financial restructuring and municipal finance.

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