Oppenheimer (NYSE:OPY) Stock Falls 14.4% - Should You Sell?

Key Points

• Oppenheimer shares fell 14.4% to about $92.41, with trading volume below average. The stock is down 21.5% overall and trades below both its 50-day and 200-day moving averages.
• Despite the selloff, analysts remain positive: two analysts rate the stock a Buy, and its consensus rating is “Buy.” Oppenheimer recently reported quarterly earnings of $1.81 per share on $382 million in revenue.
• Institutional investors own 32.26% of the company, with several hedge funds recently initiating or increasing positions. Oppenheimer operates across investment banking, securities brokerage, wealth management and asset management.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report)'s stock price traded down 14.4% on Friday. The stock traded as low as $93.25 and last traded at $92.4130. 60,919 shares were traded during trading, a decline of 32% from the average session volume of 90,210 shares. The stock had previously closed at $107.94.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OPY. Weiss Ratings upgraded Oppenheimer from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. Wall Street Zen raised shares of 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 currently has a consensus rating of "Buy".

Oppenheimer Trading Down 21.5%

The business's fifty day simple moving average is $114.37 and its 200-day simple moving average is $102.23. The firm has a market cap of $907.62 million, a P/E ratio of 9.56 and a beta of 1.10.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC purchased a new position in Oppenheimer during the first quarter valued at $1,590,000. Empowered Funds LLC lifted its holdings in shares of Oppenheimer by 48.6% during the 1st quarter. Empowered Funds LLC now owns 46,066 shares of the financial services provider's stock valued at $4,109,000 after purchasing an additional 15,073 shares during the last quarter. Dimensional Fund Advisors LP lifted its position 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 worth $44,329,000 after acquiring an additional 7,384 shares during the period. Engineers Gate Manager LP lifted its position in 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 purchasing an additional 6,776 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Oppenheimer during the 3rd quarter valued at approximately $755,000. 32.26% of the stock is currently owned by 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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