Oppenheimer (NYSE:OPY) Trading Down 5.9% - Here's What Happened

Key Points

• Oppenheimer shares fell 5.9% to about $112.15 in Tuesday trading, with volume roughly 59% below the average daily level.
• Analysts remain positive, with two analysts rating the stock a Buy and recent upgrades from Weiss Ratings and Wall Street Zen.
• The company reported quarterly revenue of $454.88 million and EPS of $3.98, while maintaining a quarterly dividend of $0.20 per share, equivalent to a 0.7% yield.

Shares of Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) traded down 5.9% during trading on Tuesday . The stock traded as low as $112.57 and last traded at $112.1460. Approximately 36,131 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 87,390 shares. The stock had previously closed at $119.17.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Weiss Ratings raised shares of Oppenheimer from a "buy (b-)" rating to a "buy (b)" rating in a report 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 research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Oppenheimer has a consensus rating of "Buy".

Oppenheimer Price Performance

The company has a 50 day moving average of $115.66 and a two-hundred day moving average of $105.03. The company has a market capitalization of $1.22 billion, a PE ratio of 12.83 and a beta of 1.10.

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

Oppenheimer Announces Dividend

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

Institutional Investors Weigh In On Oppenheimer

Institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC bought a new stake in Oppenheimer in the 2nd quarter valued at $207,000. Engineers Gate Manager LP boosted its stake in shares of Oppenheimer by 208.5% during the 2nd quarter. Engineers Gate Manager LP now owns 10,026 shares of the financial services provider's stock worth $1,058,000 after purchasing an additional 6,776 shares during the period. Allianz Asset Management GmbH bought a new position in shares of Oppenheimer during the 2nd quarter worth $408,000. Empowered Funds LLC increased its holdings in shares of Oppenheimer by 48.6% during 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 during the 1st quarter valued at about $1,590,000. 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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