Oppenheimer (NYSE:OPY) Shares Gap Up – Still a Buy?

Oppenheimer Holdings, Inc. (NYSE:OPY)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $86.29, but opened at $88.76. Oppenheimer shares last traded at $87.4720, with a volume of 2,336 shares.

Wall Street Analyst Weigh In

OPY has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Oppenheimer in a research report on Thursday, January 22nd. Wall Street Zen downgraded Oppenheimer from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Cantor Fitzgerald cut Oppenheimer to a “buy” rating in a report on Wednesday, January 7th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Oppenheimer has an average rating of “Buy”.

Oppenheimer Stock Up 1.2%

The company has a fifty day moving average price of $81.75 and a 200-day moving average price of $74.76. The stock has a market capitalization of $944.59 million, a P/E ratio of 6.89 and a beta of 1.18.

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

Oppenheimer Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, February 13th. Oppenheimer’s dividend payout ratio is currently 5.52%.

Insiders Place Their Bets

In other Oppenheimer news, insider Dennis P. Mcnamara sold 4,673 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $90.67, for a total transaction of $423,700.91. Following the completion of the transaction, the insider owned 20,177 shares in the company, valued at $1,829,448.59. This trade represents a 18.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 34.25% of the company’s stock.

Institutional Trading of Oppenheimer

Large investors have recently made changes to their positions in the business. American Century Companies Inc. lifted its holdings in shares of Oppenheimer by 17.3% in 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 stake in Oppenheimer by 56.6% during the fourth quarter. Millennium Management LLC now owns 114,737 shares of the financial services provider’s stock worth $8,294,000 after acquiring an additional 41,485 shares during the last quarter. State Street Corp raised its position in Oppenheimer by 109.6% during the fourth quarter. State Street Corp now owns 67,421 shares of the financial services provider’s stock valued at $4,941,000 after purchasing an additional 35,250 shares during the period. Marshall Wace LLP purchased a new stake in Oppenheimer during the second quarter valued at approximately $2,016,000. Finally, Algert Global LLC lifted its stake in shares of Oppenheimer by 726.5% in the 3rd quarter. Algert Global LLC now owns 33,779 shares of the financial services provider’s stock valued at $2,497,000 after purchasing an additional 29,692 shares during the last quarter. 32.26% of the stock is currently owned by institutional investors.

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.