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

Key Points

• Oppenheimer shares rose above their 200-day moving average of $106.36, reaching as high as $125.25 before last trading near $119.05. The stock was down 0.6% in the session.
• Analysts remain bullish: Weiss Ratings and Wall Street Zen recently upgraded the stock, and the two covering analysts give Oppenheimer a consensus “Buy” rating.
• The company reported quarterly EPS of $3.98 on $454.88 million in revenue and pays a quarterly dividend of $0.20, equivalent to an annualized yield of about 0.7%.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $106.36 and traded as high as $125.25. Oppenheimer shares last traded at $119.0520, with a volume of 91,800 shares trading hands.

Analyst Ratings Changes

OPY has been the subject of several research reports. Weiss Ratings upgraded 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 equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy".

Oppenheimer Stock Down 0.6%

The firm has a 50-day moving average of $116.22 and a two-hundred day moving average of $106.36. The company has a market capitalization of $1.28 billion, a PE ratio of 13.44 and a beta of 1.10.

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

Oppenheimer Dividend Announcement

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

Institutional Trading of Oppenheimer

Hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in shares of Oppenheimer in the first quarter worth about $1,590,000. Empowered Funds LLC grew its position 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 acquiring an additional 15,073 shares during the period. Dimensional Fund Advisors LP grew its position in shares of 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 acquiring an additional 7,384 shares during the period. Engineers Gate Manager LP increased its stake in shares of Oppenheimer by 208.5% in 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 in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Oppenheimer by 9.0% in 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 in the last quarter. 32.26% of the stock is 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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