Short Interest in Oppenheimer Holdings, Inc. (NYSE:OPY) Rises By 43.4%

Key Points

• Short interest rose 43.4% in March to 29,437 shares (0.4% of the stock) with a short-interest ratio of 0.6 days based on average daily volume.
• OPY traded at $112.85 (down 1.1%), near its 12‑month high of $114.50, with a market capitalization of $1.21 billion and a P/E of 8.65.
• The company reported quarterly EPS of $6.51 on $472.6 million in revenue, pays a $0.18 quarterly dividend (0.6% yield), and insiders own about 34.9% while an insider sold shares in March.

Oppenheimer Holdings, Inc. (NYSE:OPY - Get Free Report) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 29,437 shares, a growth of 43.4% from the March 15th total of 20,522 shares. Currently, 0.4% of the company's stock are sold short. Based on an average daily trading volume, of 45,455 shares, the short-interest ratio is presently 0.6 days.

Wall Street Analyst Weigh In

OPY has been the topic of several recent research reports. Weiss Ratings restated a "buy (b-)" rating on shares of Oppenheimer in a research note on Thursday, January 22nd. Wall Street Zen upgraded Oppenheimer from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 7th. Finally, Cantor Fitzgerald downgraded Oppenheimer to a "buy" rating in a research note on Wednesday, January 7th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy".

Oppenheimer Trading Down 1.1%

OPY traded down $1.25 during trading on Thursday, hitting $112.85. 78,767 shares of the company's stock traded hands, compared to its average volume of 54,375. The company's 50 day simple moving average is $89.92 and its two-hundred day simple moving average is $78.28. Oppenheimer has a 12-month low of $54.98 and a 12-month high of $114.50. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 8.65 and a beta of 1.14.

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

Oppenheimer Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Friday, February 13th. Oppenheimer's dividend payout ratio (DPR) is 5.52%.

Insider Buying and Selling at Oppenheimer

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

Hedge Funds Weigh In On Oppenheimer

A number of institutional investors and hedge funds have recently modified their holdings of OPY. American Century Companies Inc. lifted its holdings in Oppenheimer by 17.3% in the third 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 period. JPMorgan Chase & Co. lifted its holdings in Oppenheimer by 54.9% in the third quarter. JPMorgan Chase & Co. now owns 69,438 shares of the financial services provider's stock valued at $5,132,000 after acquiring an additional 24,596 shares during the period. Royce & Associates LP lifted its holdings in Oppenheimer by 18.0% in the third quarter. Royce & Associates LP now owns 112,404 shares of the financial services provider's stock valued at $8,308,000 after acquiring an additional 17,122 shares during the period. Penn Capital Management Company LLC bought a new position in Oppenheimer in the third quarter valued at about $640,000. Finally, Nisa Investment Advisors LLC bought a new position in Oppenheimer in the fourth quarter valued at about $89,000. 32.26% of the stock is currently owned by hedge funds and other institutional investors.

About Oppenheimer

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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