Oppenheimer Holdings, Inc. (NYSE: OPY) experienced a notable increase in short interest during December 2023, with figures rising by an impressive 109.7%. As of December 31, the total short interest reached 39,272 shares, up from 18,731 shares on December 15. Currently, short positions account for 0.6% of the company’s total shares. With an average trading volume of 54,059 shares, the days-to-cover ratio stands at 0.7 days.
Institutional Investment Trends
Several institutional investors have recently adjusted their stakes in Oppenheimer. The State of Alaska Department of Revenue acquired a new position valued at $31,000 during the third quarter. Similarly, Tower Research Capital LLC invested $49,000 in the second quarter, while Nisa Investment Advisors LLC added shares worth $89,000 in the fourth quarter. Additionally, Quantbot Technologies LP made a new investment of approximately $112,000, and SG Americas Securities LLC acquired a position valued at around $185,000. Collectively, institutional investors and hedge funds own about 32.26% of Oppenheimer’s stock.
Stock Performance and Dividend Announcement
On Friday, Oppenheimer’s stock traded up by $3.10, reaching $82.12 during midday trading. The trading volume on that day was 53,894 shares, compared to an average of 33,336 shares. The stock has demonstrated significant volatility, with a fifty-two-week low of $49.26 and a high of $82.39. With a market capitalization of $863.85 million and a price-to-earnings ratio of 11.02, Oppenheimer’s stock has a beta of 1.17.
Recently, the company declared a special dividend of $1.00, which was paid on January 9, 2024. Shareholders of record as of December 26, 2023 received this dividend, with the ex-dividend date also set for December 26. Oppenheimer’s dividend payout ratio currently stands at 9.66%.
Analyst Ratings and Future Outlook
Analysts have varied opinions on Oppenheimer Holdings. On November 8, Wall Street Zen downgraded the stock from a “strong-buy” to a “buy” rating. Weiss Ratings maintained a “buy (B-)” rating in their report on October 8. Most recently, on January 7, Cantor Fitzgerald also downgraded the stock to a “buy” rating. Currently, two analysts rate the stock as a buy, leading to a consensus rating of “Buy” according to MarketBeat.
Oppenheimer & Co. Inc., headquartered in New York City, is a full-service investment bank and wealth management firm. Established in the mid-20th century, it provides a wide range of financial services to individual, institutional, and corporate clients. Its expertise spans equity and fixed-income research, institutional sales and trading, underwriting, and merger-and-acquisition advisory services. In wealth management, Oppenheimer focuses on tailored investment solutions, comprehensive financial planning, and retirement strategies.
Investors and analysts alike will continue to monitor Oppenheimer Holdings as it navigates the changing landscape of financial markets.
