Oppenheimer (NYSE:OPY) Shares Gap Up – Here’s Why

Oppenheimer Holdings Inc. (NYSE:OPY)’s share price gapped up before the market opened on Friday . The stock had previously closed at $48.50, but opened at $50.00. Oppenheimer shares last traded at $50.02, with a volume of 3,135 shares.

Oppenheimer Stock Performance

The firm has a market cap of $538.14 million, a PE ratio of 13.81 and a beta of 1.15. The stock has a 50-day moving average price of $50.21 and a 200 day moving average price of $47.47. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.28 and a quick ratio of 0.79.

Oppenheimer (NYSE:OPY) last posted its quarterly earnings results on Friday, July 26th. The financial services provider reported $0.92 EPS for the quarter. The company had revenue of $330.59 million during the quarter. Oppenheimer had a return on equity of 8.33% and a net margin of 4.70%.

Insider Activity at Oppenheimer

In other Oppenheimer news, insider Dennis P. Mcnamara sold 6,000 shares of Oppenheimer stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $51.28, for a total value of $307,680.00. Following the transaction, the insider now owns 20,681 shares in the company, valued at $1,060,521.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 32.49% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Oppenheimer during the 2nd quarter worth about $56,000. Bank of Montreal Can purchased a new stake in Oppenheimer during the second quarter worth approximately $367,000. Inspire Investing LLC acquired a new stake in shares of Oppenheimer in the third quarter worth $414,000. Marshall Wace LLP increased its position in shares of Oppenheimer by 141.1% in the second quarter. Marshall Wace LLP now owns 14,736 shares of the financial services provider’s stock worth $706,000 after acquiring an additional 8,623 shares in the last quarter. Finally, Beverly Hills Private Wealth LLC raised its stake in shares of Oppenheimer by 55.6% in the 2nd quarter. Beverly Hills Private Wealth LLC now owns 19,850 shares of the financial services provider’s stock valued at $951,000 after acquiring an additional 7,094 shares during the period. Institutional investors and hedge funds own 32.26% of the company’s stock.

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.