Oppenheimer (NYSE:OPY) Reaches New 52-Week High – Should You Buy?

Oppenheimer Holdings, Inc. (NYSE:OPY)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $81.89 and last traded at $79.5730, with a volume of 11475 shares changing hands. The stock had previously closed at $79.02.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OPY. Wall Street Zen lowered shares of Oppenheimer from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Cantor Fitzgerald lowered Oppenheimer to a “buy” rating in a report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Oppenheimer in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Oppenheimer presently has an average rating of “Buy”.

Oppenheimer Stock Up 1.2%

The company has a market capitalization of $841.60 million, a PE ratio of 10.75 and a beta of 1.17. The firm has a 50-day moving average of $71.00 and a two-hundred day moving average of $71.24.

Oppenheimer (NYSE:OPY) last issued its quarterly earnings data on Friday, October 31st. The financial services provider reported $1.90 EPS for the quarter. The business had revenue of $401.94 million for the quarter. Oppenheimer had a net margin of 5.50% and a return on equity of 9.58%.

Oppenheimer Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 26th were issued a $1.00 dividend. The ex-dividend date of this dividend was Friday, December 26th. Oppenheimer’s payout ratio is presently 9.66%.

Hedge Funds Weigh In On Oppenheimer

Several institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC purchased a new position in Oppenheimer during the fourth quarter worth approximately $89,000. JPMorgan Chase & Co. increased its position in shares of 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 buying an additional 24,596 shares in the last quarter. Penn Capital Management Company LLC acquired a new position in shares of Oppenheimer during the 3rd quarter worth approximately $640,000. Caxton Associates LLP lifted its position in shares of Oppenheimer by 47.0% during the 3rd quarter. Caxton Associates LLP now owns 5,083 shares of the financial services provider’s stock valued at $376,000 after buying an additional 1,626 shares in the last quarter. Finally, Voleon Capital Management LP acquired a new stake in Oppenheimer in the 3rd quarter valued at $955,000. Hedge funds and other institutional investors own 32.26% of the company’s stock.

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.