Oppenheimer Holdings Inc. (NYSE:OPY) Sees Large Drop in Short Interest

Oppenheimer Holdings Inc. (NYSE:OPY) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 88,800 shares, a drop of 26.7% from the October 15th total of 121,200 shares. Based on an average daily volume of 32,000 shares, the days-to-cover ratio is presently 2.8 days. Approximately 1.5% of the shares of the stock are sold short.

Oppenheimer Trading Up 0.7 %

Shares of OPY stock traded up $0.44 during mid-day trading on Thursday, reaching $59.83. 31,153 shares of the stock traded hands, compared to its average volume of 37,099. The company has a quick ratio of 0.80, a current ratio of 1.29 and a debt-to-equity ratio of 0.13. Oppenheimer has a 1-year low of $36.93 and a 1-year high of $63.27. The company has a market cap of $618.04 million, a price-to-earnings ratio of 9.22 and a beta of 1.14. The stock’s fifty day simple moving average is $52.21 and its two-hundred day simple moving average is $49.56.

Oppenheimer (NYSE:OPY) last issued its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.16 earnings per share for the quarter. Oppenheimer had a return on equity of 9.50% and a net margin of 5.27%. The company had revenue of $373.35 million during the quarter.

Oppenheimer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Friday, November 8th. Oppenheimer’s dividend payout ratio is 11.20%.

Hedge Funds Weigh In On Oppenheimer

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC purchased a new stake in Oppenheimer in the 2nd quarter worth about $56,000. BNP Paribas Financial Markets raised its holdings in Oppenheimer by 3,146.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,214 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 3,115 shares during the period. Quest Partners LLC raised its stake in shares of Oppenheimer by 140.1% during the 3rd quarter. Quest Partners LLC now owns 4,070 shares of the financial services provider’s stock valued at $208,000 after purchasing an additional 2,375 shares during the period. Bank of Montreal Can purchased a new stake in Oppenheimer during the 2nd quarter worth about $367,000. Finally, Inspire Investing LLC purchased a new stake in shares of Oppenheimer in the third quarter worth about $414,000. 32.26% of the stock is owned by hedge funds and other institutional investors.

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.