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Oppenheimer (OPY)

Oppenheimer Holdings Inc., through its principal subsidiary, Oppenheimer & Co. Inc., is a United States regional broker-dealer. The Company offers a full range of services from various offices in the United States and international jurisdictions. Oppenheimer also offers online discount brokerage and dollar-based investing services.

Company profile

Ticker
OPY
Exchange
Website
CEO
Albert Grinsfelder Lowenthal
Employees
Incorporated
Location
Fiscal year end
Former names
FAHNESTOCK VINER HOLDINGS INC
SEC CIK
Subsidiaries
Oppenheimer & Co. Inc. • E.A. Viner International Co. • Oppenheimer Asset Management Inc. • Oppenheimer Europe Ltd. ...
IRS number
980080034

OPY stock data

Calendar

29 Apr 22
26 Jun 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 175.23M 175.23M 175.23M 175.23M 175.23M 175.23M
Cash burn (monthly) 55.43M (no burn) (no burn) (no burn) 50.72M (no burn)
Cash used (since last report) 159.33M n/a n/a n/a 145.78M n/a
Cash remaining 15.9M n/a n/a n/a 29.46M n/a
Runway (months of cash) 0.3 n/a n/a n/a 0.6 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
27 Jan 22 Timothy Martin Dwyer Class A non-voting common stock Grant Acquire A No No 0 2,500 0 20,000
27 Jan 22 R Lawrence Roth Class A non-voting common stock Grant Acquire A No No 0 2,500 0 10,000
27 Jan 22 Paul M Friedman Class A non-voting common stock Grant Acquire A Yes No 0 2,500 0 20,000
27 Jan 22 Teresa Glasser Class A non-voting common stock Grant Acquire A No No 0 2,500 0 10,000
27 Jan 22 William Ehrhardt Class A non-voting common stock Grant Acquire A No No 0 2,500 0 34,850
44.6% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 98 100 -2.0%
Opened positions 11 16 -31.3%
Closed positions 13 11 +18.2%
Increased positions 31 41 -24.4%
Reduced positions 43 29 +48.3%
13F shares Current Prev Q Change
Total value 236.52M 952.53M -75.2%
Total shares 5.41M 5.65M -4.3%
Total puts 23K 85.1K -73.0%
Total calls 5.1K 81.9K -93.8%
Total put/call ratio 4.5 1.0 +334.0%
Largest owners Shares Value Change
BLK Blackrock 716.77K $31.24M +0.5%
Dimensional Fund Advisors 560.18K $24.41M +0.3%
Vanguard 460.31K $20.06M -2.2%
JB Capital Partners 410.89K $17.82M 0.0%
GS Goldman Sachs 389.87K $16.99M +5.2%
Greenwich Wealth Management 305.7K $13.32M 0.0%
Bridgeway Capital Management 261.12K $11.38M +10.6%
STT State Street 193.78K $8.45M -38.3%
Geode Capital Management 159.44K $6.95M -24.1%
Propp Morris 145K $7.27M 0.0%
Largest transactions Shares Bought/sold Change
STT State Street 193.78K -120.43K -38.3%
Arrowstreet Capital, Limited Partnership 24.53K -101.49K -80.5%
Millennium Management 109.09K -64.68K -37.2%
Assenagon Asset Management 80.5K +63.31K +368.1%
FMR 51.16K +51.03K +39251.5%
Geode Capital Management 159.44K -50.51K -24.1%
Two Sigma Investments 68.43K +44.83K +189.9%
Two Sigma Advisers 92.89K +28.8K +44.9%
Russell Investments 8.16K -27.5K -77.1%
Charles Schwab Investment Management 24.22K -25.05K -50.8%

Financial report summary

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Competition
FintechFintech
Risks
  • Our results of operations may be materially affected by market fluctuations and by global and economic conditions and other factors, including changes in asset values.
  • Defaults by another large financial institution could adversely affect financial markets generally.
  • Liquidity is essential to our businesses and we rely on external sources to finance a significant portion of our operations.
  • Our borrowing costs and access to the debt capital markets depend on our credit ratings.
  • If the Company is unable to repay its outstanding indebtedness when due, its operations may be materially adversely effected.
  • We are subject to operational risks, including a failure, breach or other disruption of our operations or security systems or those of our third parties (or third parties thereof), as well as human error or malfeasance, which could adversely affect our businesses or reputation.
  • The Company's information systems may experience an interruption or breach in security.
  • Cybersecurity - Security breaches of our technology systems, or those of our clients or other third-party vendors we rely on, could subject us to significant liability and harm our reputation.
  • The Company continually encounters technological change
  • There is risk associated with the sufficiency of coverage under the Company’s insurance policies
  • The Company is subject to extensive securities regulation and the failure to comply with these regulations could subject it to monetary penalties or sanctions.
  • Financial services firms have been subject to increased regulatory scrutiny increasing the risk of financial liability and reputational harm resulting from adverse regulatory actions.
  • If the Company violates the securities laws, or is involved in litigation in connection with a violation, the Company's reputation and results of operations may be adversely affected.
  • The Company's risk management policies and procedures may leave it exposed to unidentified risks or an unanticipated level of risk.
  • The holders of Class A Stock do not have the ability to vote on most corporate matters which limits the influence that these holders have over the Company.
  • The trading volume in the Company's Class A Stock is less than that of larger financial services companies.
  • The effects of the outbreak of the novel coronavirus (COVID-19) have negatively affected the global economy, the United States economy and the global financial markets, and may disrupt our operations and our clients’ operations, which could have an adverse effect on our business, financial condition and results of operations.
  • The Company has experienced significant pricing pressure in areas of its business, which may impair its revenues and profitability.
  • The Company may make strategic acquisitions of businesses, engage in joint ventures or divest or exit existing businesses, which could result in unforeseen expenses or disruptive effects on its business.
  • The business operations that are conducted outside of the United States subject the Company to unique risks and potential loss.
  • The United Kingdom’s recent exit from the EU could impact our overseas operations.
  • The ability to attract, develop and retain highly skilled and productive employees, particularly qualified financial advisors is critical to the success of the Company's business.
  • The Company depends on its senior employees and the loss of their services could harm its business.
  • The precautions the Company takes to prevent and detect employee misconduct may not be effective and the Company could be exposed to unknown and unmanaged risks or losses.
Management Discussion
  • The Company reported net income of $9.3 million or $0.75 basic earnings per share for the first quarter of 2022, a decrease of 76.0%, compared with net income of $38.7 million or $3.07 basic earnings per share for the first quarter of 2021. Revenue for the first quarter of 2022 was $266.0 million, a decrease of 28.7% compared to revenue of $373.3 million for the first quarter of 2021.
  • •Client assets under administration and under management were both at near record levels at March 31, 2022 and up from the same period in 2021.
  • •Advisory fees increased from the same period last year due to near record high assets under management.

Content analysis

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