Oppenheimer (NYSE:OPY) Shares Gap Up – Here’s What Happened

Oppenheimer Holdings, Inc. (NYSE:OPY)’s share price gapped up before the market opened on Friday . The stock had previously closed at $94.32, but opened at $100.95. Oppenheimer shares last traded at $99.4360, with a volume of 2,077 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wall Street Zen lowered Oppenheimer from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings lowered Oppenheimer from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Oppenheimer Stock Down 1.3%

The stock has a market cap of $1.06 billion, a PE ratio of 11.81 and a beta of 1.10. The firm has a 50 day moving average price of $99.08 and a 200 day moving average price of $85.79.

Oppenheimer (NYSE:OPY) last posted its 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 company had revenue of $445.10 million for the quarter.

Oppenheimer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.8%. This is a boost from Oppenheimer’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 15th. Oppenheimer’s payout ratio is presently 9.54%.

Institutional Trading of Oppenheimer

Several hedge funds and other institutional investors have recently made changes to their positions in the business. DGS Capital Management LLC lifted its holdings in shares of Oppenheimer by 2.7% during the first quarter. DGS Capital Management LLC now owns 3,681 shares of the financial services provider’s stock worth $328,000 after purchasing an additional 97 shares during the period. Boothbay Fund Management LLC lifted its holdings in shares of Oppenheimer by 0.4% during the fourth quarter. Boothbay Fund Management LLC now owns 32,219 shares of the financial services provider’s stock worth $2,329,000 after purchasing an additional 120 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Oppenheimer by 0.3% during the second quarter. Geode Capital Management LLC now owns 67,885 shares of the financial services provider’s stock worth $4,467,000 after purchasing an additional 214 shares during the period. Inspire Investing LLC lifted its holdings in shares of Oppenheimer by 6.3% during the fourth quarter. Inspire Investing LLC now owns 6,507 shares of the financial services provider’s stock worth $470,000 after purchasing an additional 385 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Oppenheimer by 1.8% during the first quarter. Renaissance Technologies LLC now owns 22,800 shares of the financial services provider’s stock worth $2,034,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 32.26% of the company’s stock.

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.