Oppenheimer (NYSE:OPY) Stock Rating Lowered by StockNews.com

Oppenheimer (NYSE:OPY) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Monday.

Oppenheimer Stock Down 0.9 %

NYSE OPY traded down $0.60 during trading on Monday, hitting $68.22. 24,693 shares of the company traded hands, compared to its average volume of 23,209. The company has a market capitalization of $704.71 million, a P/E ratio of 10.71 and a beta of 1.14. The business has a fifty day simple moving average of $65.36 and a 200 day simple moving average of $57.14. Oppenheimer has a 12 month low of $36.93 and a 12 month high of $73.12. The company has a current ratio of 1.29, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Oppenheimer (NYSE:OPY) last issued its quarterly earnings results on Friday, January 31st. The financial services provider reported $0.92 EPS for the quarter. Oppenheimer had a return on equity of 8.76% and a net margin of 5.00%.

Institutional Trading of Oppenheimer

A number of institutional investors and hedge funds have recently modified their holdings of the company. Empowered Funds LLC boosted its stake in Oppenheimer by 4.9% during the fourth quarter. Empowered Funds LLC now owns 34,511 shares of the financial services provider’s stock worth $2,212,000 after buying an additional 1,620 shares in the last quarter. Profit Investment Management LLC lifted its holdings in shares of Oppenheimer by 5.2% during the 4th quarter. Profit Investment Management LLC now owns 49,394 shares of the financial services provider’s stock worth $3,166,000 after acquiring an additional 2,445 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Oppenheimer by 403.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,153 shares of the financial services provider’s stock valued at $878,000 after acquiring an additional 13,747 shares in the last quarter. TCW Group Inc. increased its stake in Oppenheimer by 53.2% in the third quarter. TCW Group Inc. now owns 76,600 shares of the financial services provider’s stock valued at $3,919,000 after acquiring an additional 26,600 shares during the period. Finally, XTX Topco Ltd acquired a new position in Oppenheimer in the third quarter worth about $407,000. 32.26% of the stock is currently owned by institutional investors.

About Oppenheimer

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.