Short Interest in Oppenheimer Holdings, Inc. (NYSE:OPY) Increases By 15.8%

Key Points

• Short interest in Oppenheimer (NYSE:OPY) rose 15.8% in April to 34,086 shares, equal to about 0.5% of shares outstanding and a short-interest ratio of 0.4 days.
• Insider Dennis P. Mcnamara sold 4,673 shares on March 2 at about $90.67 (an 18.8% reduction in his stake); overall corporate insiders own 34.86% of the company.
• Analysts hold a consensus Buy on OPY; the stock trades at a P/E of 8.79 with a market cap of $1.23 billion and reported $6.51 EPS for the most recent quarter.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totaling 34,086 shares, a growth of 15.8% from the March 31st total of 29,437 shares. Based on an average daily volume of 83,380 shares, the short-interest ratio is presently 0.4 days. Currently, 0.5% of the company's shares are sold short.

Insider Activity

In other news, insider Dennis P. Mcnamara sold 4,673 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $90.67, for a total value of $423,700.91. Following the completion of the transaction, the insider owned 20,177 shares of the company's stock, valued at $1,829,448.59. The trade was a 18.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 34.86% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OPY. American Century Companies Inc. increased its stake in shares of Oppenheimer by 17.3% during the 3rd quarter. American Century Companies Inc. now owns 299,211 shares of the financial services provider's stock valued at $22,115,000 after acquiring an additional 44,145 shares during the last quarter. Millennium Management LLC increased its position in Oppenheimer by 56.6% during the 4th quarter. Millennium Management LLC now owns 114,737 shares of the financial services provider's stock worth $8,294,000 after purchasing an additional 41,485 shares in the last quarter. State Street Corp increased its position in Oppenheimer by 109.6% during the 4th quarter. State Street Corp now owns 67,421 shares of the financial services provider's stock worth $4,941,000 after purchasing an additional 35,250 shares in the last quarter. Marshall Wace LLP acquired a new stake in Oppenheimer during the 2nd quarter worth approximately $2,016,000. Finally, Algert Global LLC increased its position in Oppenheimer by 726.5% during the 3rd quarter. Algert Global LLC now owns 33,779 shares of the financial services provider's stock worth $2,497,000 after purchasing an additional 29,692 shares in the last quarter. Institutional investors and hedge funds own 32.26% of the company's stock.

Analyst Ratings Changes

OPY has been the subject of a number of analyst reports. Cantor Fitzgerald lowered shares of Oppenheimer to a "buy" rating in a research report on Wednesday, January 7th. Wall Street Zen raised shares of Oppenheimer from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 7th. Finally, Weiss Ratings raised shares of Oppenheimer from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Oppenheimer currently has a consensus rating of "Buy".

Oppenheimer Price Performance

NYSE OPY opened at $114.66 on Friday. Oppenheimer has a 12 month low of $57.41 and a 12 month high of $118.77. The company has a 50-day moving average of $95.11 and a 200-day moving average of $81.36. The company has a market cap of $1.23 billion, a P/E ratio of 8.79 and a beta of 1.14.

Oppenheimer (NYSE:OPY - Get Free Report) last posted its quarterly earnings data on Friday, January 30th. The financial services provider reported $6.51 EPS for the quarter. Oppenheimer had a net margin of 9.06% and a return on equity of 16.10%. The company had revenue of $472.63 million during the quarter.

Oppenheimer Company Profile

Oppenheimer & Co Inc is a full-service investment bank and wealth management firm headquartered in New York City. Founded in the mid-20th century, the company provides a broad array of financial services to individual, institutional and corporate clients. Its core competencies include equity and fixed-income research, institutional sales and trading, underwriting and merger-and-acquisition advisory.

In the wealth management segment, Oppenheimer offers tailored investment solutions, comprehensive financial planning and retirement strategies.

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