Oppenheimer (NYSE:OPY) Rating Increased to Strong-Buy at Wall Street Zen

Oppenheimer (NYSE:OPY) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

OPY has been the topic of a number of other reports. Weiss Ratings restated a “buy (b-)” rating on shares of Oppenheimer in a research note on Thursday, January 22nd. Cantor Fitzgerald downgraded Oppenheimer to a “buy” rating in a research report on Wednesday, January 7th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy”.

Oppenheimer Price Performance

Shares of NYSE:OPY opened at $85.93 on Friday. The firm has a fifty day moving average price of $82.24 and a two-hundred day moving average price of $74.96. The company has a market cap of $903.98 million, a price-to-earnings ratio of 6.59 and a beta of 1.18. Oppenheimer has a one year low of $49.26 and a one year high of $94.10.

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

Insider Activity

In other news, insider Dennis P. Mcnamara sold 4,673 shares of the stock in a transaction dated 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 approximately $1,829,448.59. This represents a 18.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 34.25% of the company’s stock.

Hedge Funds Weigh In On Oppenheimer

A number of large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in Oppenheimer by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 493,218 shares of the financial services provider’s stock worth $36,456,000 after buying an additional 2,911 shares during the last quarter. Vanguard Group Inc. grew its position in Oppenheimer by 2.5% during the third quarter. Vanguard Group Inc. now owns 426,033 shares of the financial services provider’s stock valued at $31,488,000 after acquiring an additional 10,345 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Oppenheimer by 17.3% during the third quarter. American Century Companies Inc. now owns 299,211 shares of the financial services provider’s stock worth $22,115,000 after acquiring an additional 44,145 shares in the last quarter. Millennium Management LLC raised its stake in shares of 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 in the last quarter. Finally, Royce & Associates LP lifted its holdings in shares of Oppenheimer by 18.0% in the 3rd quarter. Royce & Associates LP now owns 112,404 shares of the financial services provider’s stock worth $8,308,000 after acquiring an additional 17,122 shares during the last quarter. 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.