Profit Investment Management LLC Decreases Holdings in Oppenheimer Holdings Inc. (NYSE:OPY)

Profit Investment Management LLC trimmed its holdings in shares of Oppenheimer Holdings Inc. (NYSE:OPY) by 36.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 46,949 shares of the financial services provider’s stock after selling 26,890 shares during the quarter. Oppenheimer makes up 1.9% of Profit Investment Management LLC’s holdings, making the stock its 15th biggest holding. Profit Investment Management LLC’s holdings in Oppenheimer were worth $2,402,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Innealta Capital LLC purchased a new stake in Oppenheimer in the 2nd quarter worth about $56,000. Bank of Montreal Can purchased a new stake in Oppenheimer in the 2nd quarter worth about $367,000. Quadrature Capital Ltd raised its position in Oppenheimer by 31.3% in the 4th quarter. Quadrature Capital Ltd now owns 13,884 shares of the financial services provider’s stock worth $574,000 after purchasing an additional 3,308 shares during the period. Marshall Wace LLP raised its position in Oppenheimer by 141.1% in the 2nd quarter. Marshall Wace LLP now owns 14,736 shares of the financial services provider’s stock worth $706,000 after purchasing an additional 8,623 shares during the period. Finally, Beverly Hills Private Wealth LLC raised its position in Oppenheimer by 55.6% in the 2nd quarter. Beverly Hills Private Wealth LLC now owns 19,850 shares of the financial services provider’s stock worth $951,000 after purchasing an additional 7,094 shares during the period. 32.26% of the stock is currently owned by hedge funds and other institutional investors.

Oppenheimer Trading Up 2.0 %

Oppenheimer stock traded up $0.93 during midday trading on Friday, reaching $48.52. The stock had a trading volume of 2,472 shares, compared to its average volume of 37,473. The company has a quick ratio of 0.79, a current ratio of 1.28 and a debt-to-equity ratio of 0.14. The firm has a market cap of $501.21 million, a price-to-earnings ratio of 8.68 and a beta of 1.15. The company has a fifty day moving average of $50.32 and a 200 day moving average of $46.80. Oppenheimer Holdings Inc. has a 52-week low of $32.82 and a 52-week high of $58.35.

Oppenheimer (NYSE:OPY) last issued its earnings results on Friday, July 26th. The financial services provider reported $0.92 EPS for the quarter. The business had revenue of $330.59 million for the quarter. Oppenheimer had a net margin of 4.70% and a return on equity of 8.33%.

Oppenheimer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were paid a $0.18 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.48%. Oppenheimer’s dividend payout ratio is currently 13.14%.

Insiders Place Their Bets

In other news, insider Dennis P. Mcnamara sold 6,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $51.28, for a total transaction of $307,680.00. Following the transaction, the insider now directly owns 20,681 shares in the company, valued at approximately $1,060,521.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 32.49% of the company’s stock.

Oppenheimer Profile

Oppenheimer Holdings Inc operates as a middle-market investment bank and full-service broker-dealer in the Americas, Europe, the Middle East, and Asia. The company provides brokerage services covering corporate equity and debt securities, money market instruments, exchange-traded options and futures contracts, municipal bonds, mutual funds, exchange-traded funds, and unit investment trusts; financial and wealth planning services; and margin lending services.