Oppenheimer (NYSE:OPY) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Oppenheimer Holdings, Inc. (NYSE:OPY)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $83.41 and traded as high as $96.15. Oppenheimer shares last traded at $94.09, with a volume of 77,835 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Weiss Ratings downgraded Oppenheimer from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Wall Street Zen downgraded Oppenheimer from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Oppenheimer Stock Performance

The stock has a fifty day moving average price of $96.49 and a 200-day moving average price of $83.41. The firm has a market capitalization of $1.01 billion, a PE ratio of 11.21 and a beta of 1.19.

Oppenheimer (NYSE:OPY) last announced its quarterly earnings results on Friday, May 1st. The financial services provider reported $4.21 earnings per share (EPS) for the quarter. Oppenheimer had a return on equity of 17.49% and a net margin of 5.66%.The business had revenue of $445.10 million for the quarter.

Oppenheimer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a dividend of $0.20 per share. This is a positive change from Oppenheimer’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, May 15th. This represents a $0.80 annualized dividend and a yield of 0.9%. Oppenheimer’s dividend payout ratio (DPR) is presently 9.54%.

Insiders Place Their Bets

In related news, insider Dennis P. Mcnamara sold 4,673 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $90.67, for a total transaction of $423,700.91. Following the transaction, the insider directly owned 20,177 shares in the company, valued at $1,829,448.59. The trade was a 18.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 34.86% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in OPY. American Century Companies Inc. grew its stake in Oppenheimer by 17.3% during the 3rd quarter. American Century Companies Inc. now owns 299,211 shares of the financial services provider’s stock worth $22,115,000 after buying an additional 44,145 shares during the last quarter. Millennium Management LLC grew its stake 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 buying an additional 41,485 shares during the last quarter. State Street Corp grew its stake 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 buying an additional 35,250 shares during the last quarter. Marshall Wace LLP purchased a new position in Oppenheimer during the 2nd quarter worth $2,016,000. Finally, Algert Global LLC grew its stake 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 buying an additional 29,692 shares during the last quarter. 32.26% of the stock is currently owned by hedge funds and other 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.