Oppenheimer (NYSE:OPY) Sees Large Volume Increase – Time to Buy?

Oppenheimer Holdings Inc. (NYSE:OPY) saw unusually-strong trading volume on Thursday . Approximately 22,598 shares were traded during mid-day trading, a decline of 34% from the previous session’s volume of 34,062 shares.The stock last traded at $57.76 and had previously closed at $55.83.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Oppenheimer from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd.

Oppenheimer Stock Performance

The company has a current ratio of 1.29, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $595.80 million, a PE ratio of 8.89 and a beta of 1.10. The stock’s 50 day moving average price is $60.02 and its two-hundred day moving average price is $60.73.

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

Oppenheimer Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.72 dividend on an annualized basis and a yield of 1.27%. Oppenheimer’s dividend payout ratio (DPR) is 11.30%.

Hedge Funds Weigh In On Oppenheimer

A number of institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its stake in Oppenheimer by 8,364.5% in the 1st quarter. GAMMA Investing LLC now owns 2,624 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 2,593 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Oppenheimer during the fourth quarter worth $77,000. State of Wyoming grew its position in shares of Oppenheimer by 10.9% in the fourth quarter. State of Wyoming now owns 4,403 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 431 shares during the period. Occudo Quantitative Strategies LP acquired a new position in Oppenheimer in the fourth quarter valued at $227,000. Finally, D. E. Shaw & Co. Inc. lifted its position in Oppenheimer by 44.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 33,843 shares of the financial services provider’s stock worth $2,169,000 after buying an additional 10,387 shares during the period. Institutional investors and hedge funds own 32.26% of the company’s stock.

Oppenheimer Company 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.