Oppenheimer Holdings, Inc. (NYSE: OPY) shares surged above their 200-day moving average during trading on Wednesday, marking a significant milestone for the financial services firm. The stock, which has a 200-day moving average of $71.19, reached a high of $74.83 before settling at $74.4050. This uptick occurred with a trading volume of 47,534 shares.
Analyst Ratings and Market Performance
Several research firms recently updated their ratings for Oppenheimer. On January 7, 2023, Cantor Fitzgerald downgraded the stock to a “buy” rating. In contrast, Weiss Ratings reaffirmed a “buy (B-)” rating on October 8, 2023. Additionally, Wall Street Zen revised its rating from “strong-buy” to “buy” on November 8, 2023. Overall, data from MarketBeat indicates that two analysts currently rate the stock as a buy, leading to an average rating of “buy.”
The stock boasts a market capitalization of $782.74 million, a price-to-earnings (P/E) ratio of 9.99, and a beta of 1.17. As of the latest figures, Oppenheimer’s fifty-day moving average stands at $70.78.
Recent Earnings and Dividend Announcement
Oppenheimer released its latest earnings results on October 31, 2023. The company reported earnings per share (EPS) of $1.90 for the quarter, with total revenue reaching $401.94 million. The firm’s net margin was noted at 5.50%, while the return on equity stood at 9.58%.
In a noteworthy financial move, Oppenheimer also announced a special dividend, which was paid to stockholders on January 9, 2024. Shareholders on record as of December 26, 2023, received a dividend of $1.00, resulting in a payout ratio of 9.66%.
Investment Activity by Hedge Funds
Recent trading activity indicates growing interest from institutional investors in Oppenheimer. For instance, Goldman Sachs Group Inc. increased its stake in Oppenheimer by 39.2% during the first quarter, now owning 8,154 shares valued at approximately $486,000. Other firms, such as Caxton Associates LLP, have also acquired new stakes, while Empowered Funds LLC boosted its position by 5.3%, now holding 36,347 shares worth $2,167,000.
Collectively, hedge funds and institutional investors own 32.26% of Oppenheimer’s stock, reflecting broader market confidence in the company.
Founded in the mid-20th century, Oppenheimer & Co. Inc. is a full-service investment bank and wealth management firm based in New York City. The firm offers a wide range of financial services, including equity and fixed-income research, institutional sales and trading, and merger-and-acquisition advisory. In its wealth management division, Oppenheimer focuses on tailored investment solutions and comprehensive financial planning.
As Oppenheimer continues to navigate the financial landscape, its recent performance indicates a positive trajectory, bolstered by strong trading activity and positive analyst sentiment.
