Oppenheimer (NYSE:OPY) Shares Down 7.4% – Time to Sell?

Oppenheimer Holdings, Inc. (NYSE:OPY)’s share price was down 7.4% during trading on Friday . The company traded as low as $105.88 and last traded at $104.2040. Approximately 44,753 shares changed hands during trading, a decline of 20% from the average daily volume of 55,627 shares. The stock had previously closed at $112.51.

Analyst Ratings Changes

A number of equities analysts have recently commented on OPY shares. Weiss Ratings raised Oppenheimer from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Wall Street Zen raised Oppenheimer from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 7th. Finally, Cantor Fitzgerald downgraded Oppenheimer to a “buy” rating in a research report on Wednesday, January 7th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Oppenheimer Stock Down 7.2%

The stock has a fifty day moving average of $92.77 and a 200-day moving average of $79.95. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 8.01 and a beta of 1.14.

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

Oppenheimer Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, February 13th. Oppenheimer’s dividend payout ratio is 5.52%.

Insider Buying and Selling at Oppenheimer

In other news, insider Dennis P. Mcnamara sold 4,673 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $90.67, for a total value of $423,700.91. Following the completion of the sale, the insider directly owned 20,177 shares of the company’s stock, valued at approximately $1,829,448.59. This represents a 18.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 34.86% of the company’s stock.

Institutional Investors Weigh In On Oppenheimer

Several large investors have recently modified their holdings of the company. Boothbay Fund Management LLC boosted its holdings in shares of Oppenheimer by 0.4% in the fourth quarter. Boothbay Fund Management LLC now owns 32,219 shares of the financial services provider’s stock valued at $2,329,000 after acquiring an additional 120 shares during the period. Inspire Investing LLC boosted its holdings in shares of Oppenheimer by 2.6% in the third quarter. Inspire Investing LLC now owns 6,122 shares of the financial services provider’s stock valued at $452,000 after acquiring an additional 157 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Oppenheimer by 0.3% in the second quarter. Geode Capital Management LLC now owns 67,885 shares of the financial services provider’s stock valued at $4,467,000 after acquiring an additional 214 shares during the period. Clearstead Advisors LLC boosted its holdings in shares of Oppenheimer by 193.9% in the fourth quarter. Clearstead Advisors LLC now owns 629 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 415 shares during the period. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Oppenheimer in the third quarter valued at approximately $31,000. 32.26% of the stock is owned by institutional investors and hedge funds.

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.