StockNews.com downgrades Oppenheimer (NYSE:OPY) to hold

Oppenheimer (NYSE:OPY) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

NYSE:OPY traded at $0.37 during the midday session on Friday, reaching $43.05. 79,770 shares of the stock traded in hands, compared to its average volume of 78,702. The company’s 50-day moving average price is $44.41 and its 200-day moving average price is 46.47 $. The company has a market capitalization of $543.08 million, a PE ratio of 3.67 and a beta of 1.11. Oppenheimer has a 12-month low of $36.57 and a 12-month high of $55.75. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt ratio of 0.16.

Institutional investors have recently changed their positions in the company. Citigroup Inc. increased its stake in Oppenheimer shares by 326.1% in the third quarter. Citigroup Inc. now owns 1,913 shares of the financial services provider worth $86,000 after acquiring 1,464 additional shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in Oppenheimer by 23.9% during Q3. O Shaughnessy Asset Management LLC now owns 2,402 shares of the financial services provider valued at $109,000 after buying 463 additional shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Oppenheimer by 78.4% during the third quarter. BNP Paribas Arbitrage SA now owns 2,669 shares of the financial services provider valued at $121,000 after purchasing an additional 1,173 shares during the period. Barclays PLC increased its stake in Oppenheimer by 214.5% in the third quarter. Barclays PLC now owns 3,774 shares of the financial services provider worth $171,000 after buying an additional 2,574 shares during the period. Finally, Metropolitan Life Insurance Co NY increased its holdings in Oppenheimer by 112,633.3% in the second quarter. Metropolitan Life Insurance Co NY now owns 3,382 shares of the financial services provider worth $172,000 after purchasing an additional 3,379 shares during the period. Institutional investors and hedge funds hold 42.51% of the company’s shares.

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Oppenheimer Company Profile

Oppenheimer Holdings, Inc. engages as a middle-market investment bank and full-service broker. It operates through the following segments: Private Clients, Asset Management, Capital Markets and Corporate/Other. The Private Client segment includes commissions and a proportionate amount of fee income earned on assets under management (AUM), net interest income on clients’ margin loans and cash balances, money market funds, custodial fees, net contributions from stock lending activities and financing activities and direct expenses.

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