Oppenheimer (NYSE:OPY) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Oppenheimer Holdings, Inc. (NYSE:OPY) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $70.43 and traded as high as $74.64. Oppenheimer shares last traded at $73.3660, with a volume of 31,128 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on OPY shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Oppenheimer in a research report on Wednesday, October 8th. Wall Street Zen downgraded Oppenheimer from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.

Oppenheimer Stock Down 1.1%

The stock has a market capitalization of $771.81 million, a PE ratio of 9.85 and a beta of 1.19. The firm’s fifty day moving average price is $69.65 and its two-hundred day moving average price is $70.43.

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

Oppenheimer Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Friday, January 9th. Investors of record on Friday, December 26th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, December 26th. Oppenheimer’s dividend payout ratio is 9.66%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new stake in shares of Oppenheimer during the 3rd quarter valued at about $31,000. Tower Research Capital LLC TRC bought a new position in shares of Oppenheimer in the 2nd quarter worth approximately $49,000. Quantbot Technologies LP purchased a new position in shares of Oppenheimer in the second quarter worth approximately $112,000. SG Americas Securities LLC bought a new stake in Oppenheimer during the third quarter valued at approximately $185,000. Finally, Caxton Associates LLP bought a new stake in Oppenheimer during the first quarter valued at approximately $206,000. 32.26% of the stock is 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.