Oppenheimer Holdings, Inc. (NYSE:OPY) experienced a notable increase in short interest, rising by 109.7% in December 2023. As of December 31, the total short interest reached 39,272 shares, up from 18,731 shares on December 15. Currently, this represents 0.6% of the company’s outstanding shares sold short. With an average trading volume of 54,059 shares, the days-to-cover ratio stands at 0.7 days.
Several institutional investors have recently modified their positions in Oppenheimer. The State of Alaska Department of Revenue acquired a new stake valued at $31,000 in the third quarter. Tower Research Capital LLC purchased shares worth $49,000 during the second quarter, while Nisa Investment Advisors LLC invested $89,000 in the fourth quarter. Furthermore, Quantbot Technologies LP added $112,000 in shares during the second quarter, and SG Americas Securities LLC acquired a position valued at approximately $185,000 in the third quarter. Currently, institutional investors and hedge funds hold 32.26% of Oppenheimer’s stock.
Stock Performance and Dividend Announcement
During midday trading on Friday, Oppenheimer’s shares climbed by $3.10, reaching a price of $82.12. The trading volume amounted to 53,894 shares, surpassing the average volume of 33,336 shares. Over the past year, Oppenheimer’s stock has fluctuated between a low of $49.26 and a high of $82.39. The company’s market capitalization stands at $863.85 million, with a price-to-earnings ratio of 11.02 and a beta of 1.17. The 50-day and 200-day simple moving averages are $71.00 and $71.24, respectively.
Oppenheimer has also declared a special dividend of $1.00, which was paid on January 9, 2024. Shareholders of record on December 26 received this dividend, and the ex-dividend date was also December 26. The company’s dividend payout ratio is 9.66%.
Analysts’ Ratings and Future Outlook
Oppenheimer has drawn attention from various research analysts. Wall Street Zen downgraded the stock from a “strong-buy” to a “buy” rating on November 8, 2023. Weiss Ratings reaffirmed a “buy (B-)” rating on October 8, 2023. Additionally, Cantor Fitzgerald adjusted its rating to “buy” on January 7, 2024. According to MarketBeat, the consensus rating for Oppenheimer currently stands at “Buy,” with two analysts endorsing the stock.
Oppenheimer & Co. Inc., headquartered in New York City, is a full-service investment bank and wealth management firm. Founded in the mid-20th century, it provides a comprehensive range of financial services to individual, institutional, and corporate clients. The firm specializes in equity and fixed-income research, institutional sales and trading, underwriting, and advisory services for mergers and acquisitions. In wealth management, Oppenheimer offers tailored investment solutions, financial planning, and retirement strategies.
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