Oppenheimer (NYSE:OPY) Shares Break Below 200-Day Moving Average – Here’s What Happened

Oppenheimer Holdings, Inc. (NYSE:OPY) passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $102.29 and traded as low as $83.12. Oppenheimer shares last traded at $85.96, with a volume of 264,166 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently weighed in on OPY shares. Weiss Ratings raised shares of Oppenheimer from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Wall Street Zen lowered Oppenheimer from a “buy” rating to a “hold” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Oppenheimer Stock Performance

The firm has a market cap of $920.63 million, a P/E ratio of 11.57 and a beta of 1.10. The business’s fifty day moving average is $113.84 and its 200-day moving average is $102.29.

Oppenheimer (NYSE:OPY) last issued its quarterly earnings data on Friday, October 30th. The financial services provider reported $1.81 earnings per share (EPS) for the quarter. The company had revenue of $382.00 million during the quarter. Oppenheimer had a return on equity of 19.51% and a net margin of 5.72%.

Institutional Investors Weigh In On Oppenheimer

A number of institutional investors and hedge funds have recently made changes to their positions in OPY. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Oppenheimer during the 3rd quarter valued at $755,000. Signaturefd LLC grew its stake in Oppenheimer by 103.0% during the third quarter. Signaturefd LLC now owns 603 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 306 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Oppenheimer by 138.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,076 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 625 shares in the last quarter. Tidal Investments LLC bought a new position in Oppenheimer in the 2nd quarter worth about $207,000. Finally, Engineers Gate Manager LP increased its position in shares of Oppenheimer by 208.5% in the second quarter. Engineers Gate Manager LP now owns 10,026 shares of the financial services provider’s stock worth $1,058,000 after purchasing an additional 6,776 shares during the last quarter. Institutional investors and hedge funds own 32.26% of the company’s stock.

About Oppenheimer

Oppenheimer Holdings Inc is a diversified financial services company that operates primarily through its subsidiaries, including Oppenheimer & Co Inc and Oppenheimer Asset Management Inc The company provides investment banking, securities brokerage, wealth management and asset management services to individual investors, businesses, institutional clients and government entities.

Its investment banking activities include public and private securities offerings, mergers and acquisitions advisory services, financial restructuring and municipal finance.