Oppenheimer (OPY) Downgraded by ValuEngine to “Hold”

Oppenheimer (NYSE:OPY) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Oppenheimer (NYSE:OPY) traded up $0.25 on Friday, reaching $27.20. The company had a trading volume of 89,292 shares, compared to its average volume of 117,393. The company has a current ratio of 1.22, a quick ratio of 0.64 and a debt-to-equity ratio of 0.39. Oppenheimer has a 1-year low of $15.10 and a 1-year high of $27.80.

Oppenheimer (NYSE:OPY) last posted its quarterly earnings results on Friday, October 27th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.38. Oppenheimer had a negative net margin of 0.02% and a negative return on equity of 0.40%. The business had revenue of $226.22 million during the quarter.

Hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its position in Oppenheimer by 12.2% during the second quarter. The Manufacturers Life Insurance Company now owns 9,985 shares of the financial services provider’s stock valued at $163,000 after buying an additional 1,089 shares during the period. Captrust Financial Advisors purchased a new stake in Oppenheimer during the second quarter valued at about $174,000. Wells Fargo & Company MN boosted its position in Oppenheimer by 56.1% during the third quarter. Wells Fargo & Company MN now owns 11,034 shares of the financial services provider’s stock valued at $191,000 after buying an additional 3,965 shares during the period. Parametric Portfolio Associates LLC purchased a new stake in Oppenheimer during the second quarter valued at about $202,000. Finally, Teachers Advisors LLC boosted its position in Oppenheimer by 7.8% during the second quarter. Teachers Advisors LLC now owns 17,218 shares of the financial services provider’s stock valued at $282,000 after buying an additional 1,239 shares during the period. Institutional investors and hedge funds own 40.90% of the company’s stock.

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Oppenheimer Company Profile

Oppenheimer Holdings Inc is a middle-market investment bank and service broker-dealer. The Company is engaged in a range of activities in the securities industry, including retail securities brokerage, institutional sales and trading, investment banking, research, market-making, trust services, and investment advisory and asset management services.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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