Oppenheimer Holdings, Inc. (NYSE: OPY) experienced a substantial increase in short interest in December, rising by an impressive 109.7%. As of December 31, 2023, the total short interest reached 39,272 shares, up from 18,731 shares noted on December 15. Presently, 0.6% of the company’s outstanding shares are sold short. Given an average trading volume of 54,059 shares, the days-to-cover ratio stands at 0.7 days.
Institutional Investor Activity
Several institutional investors have recently adjusted their positions concerning Oppenheimer. For instance, the State of Alaska Department of Revenue established a new stake in the company valued at approximately $31,000 in the third quarter. Similarly, Tower Research Capital LLC acquired a new position worth $49,000 during the second quarter. Other notable transactions include Nisa Investment Advisors LLC, which invested around $89,000 in the fourth quarter, and Quantbot Technologies LP, which bought in for about $112,000 during the same period. SG Americas Securities LLC also acquired a new position valued at around $185,000 in the third quarter. Currently, institutional investors and hedge funds collectively own 32.26% of Oppenheimer’s stock.
Current Stock Performance and Dividend Announcement
On Friday, shares of Oppenheimer traded up by $3.10, reaching $82.12 during midday trading. The trading volume for the day was 53,894 shares, exceeding the average volume of 33,336 shares. Over the past fifty-two weeks, Oppenheimer’s stock has fluctuated between a low of $49.26 and a high of $82.39. The company maintains a market capitalization of approximately $863.85 million, with a price-to-earnings ratio of 11.02 and a beta of 1.17. The stock’s fifty-day simple moving average is $71.00, while the two-hundred-day moving average is $71.24.
Additionally, Oppenheimer recently declared a special dividend of $1.00, which was distributed to shareholders on January 9, 2024. Stockholders who were on record by December 26, 2023 benefited from this payout, with the ex-dividend date also set for December 26. The company’s dividend payout ratio currently stands at 9.66%.
Analyst Ratings and Market Outlook
Oppenheimer has been the subject of recent scrutiny from market analysts. Notably, Wall Street Zen downgraded the stock from a “strong-buy” rating to a “buy” rating on November 8, 2023. Conversely, Weiss Ratings reaffirmed a “buy (B-)” rating on October 8, 2023, while Cantor Fitzgerald also downgraded the stock to a “buy” rating on January 7, 2024. According to MarketBeat, two analysts have assigned a Buy rating to the stock, resulting in a consensus rating of “Buy.”
Oppenheimer & Co. Inc., headquartered in New York City, is a comprehensive investment bank and wealth management firm. Established in the mid-20th century, the company offers a wide range of financial services, including equity and fixed-income research, institutional sales and trading, underwriting, and merger-and-acquisition advisory. In its wealth management division, Oppenheimer provides customized investment solutions, thorough financial planning, and retirement strategies.
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