OPY Oppenheimer

Oppenheimer Holdings, Inc. engages as a middle-market investment bank and full service broker-dealer. It operates through the following segments: Private Client, Asset Management, Capital Markets, and Corporate/Other. The Private Client segment consists of commissions and a proportionate amount of fee income earned on assets under management (AUM), net interest earnings on client margin loans and cash balances, fees from money market funds, custodian fees, net contributions from stock loan activities and financing activities, and direct expenses. The Asset Management segment comprises of fee income earned on AUM from investment management services of Oppenheimer Asset Management Inc. The Capital Markets segment offers investment banking, institutional equities sales, trading, and research, taxable fixed income sales, trading, and research, public finance and municipal trading. The Corporate/Other segment pertains to legal, compliance, accounting, and internal audit activities. The company was founded in 1881 and is headquartered in New York, NY.

Company profile

Albert Grinsfelder Lowenthal
Fiscal year end
Former names
IRS number

OPY stock data



1 Mar 21
11 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Cost of revenue
Operating income
Operating margin
Net income
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Financial data from Oppenheimer earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 35.42M 35.42M 35.42M 35.42M 35.42M 35.42M
Cash burn (monthly) (positive/no burn) 3.68M (positive/no burn) (positive/no burn) (positive/no burn) 4.5M
Cash used (since last report) n/a 12.41M n/a n/a n/a 15.2M
Cash remaining n/a 23.02M n/a n/a n/a 20.23M
Runway (months of cash) n/a 6.3 n/a n/a n/a 4.5

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
23 Feb 21 Jeffrey J Alfano Class A non-voting common stock Grant Aquire A No No 0 4,678 0 75,834
23 Feb 21 Jeffrey J Alfano Restricted Class A non-voting common stock Class A non-voting common stock Other Dispose J No No 0 10,000 0 23,000
23 Feb 21 Robert S Lowenthal Class A non-voting common stock Other Aquire J No No 0 4,678 0 60,560
23 Feb 21 Robert S Lowenthal Restricted Class A non-voting common stock Class A non-voting common stock Other Dispose J No No 0 10,000 0 137,368
23 Feb 21 DENNIS P McNAMARA Class A non-voting common stock Other Aquire J No No 0 3,677 0 56,014
23 Feb 21 DENNIS P McNAMARA Restricted Class A non-voting common stock Class A non-voting common stock Other Dispose J No No 0 7,000 0 18,500
28 Jan 21 DENNIS P McNAMARA Restricted Class A non-voting common stock Class A non-voting common stock Other Aquire J No No 0 5,000 0 24,500
28 Jan 21 Jeffrey J Alfano Restricted Class A non-voting common stock Class A non-voting common stock Other Aquire J No No 0 6,000 0 33,000

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

42.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 84 84
Opened positions 11 9 +22.2%
Closed positions 11 12 -8.3%
Increased positions 27 30 -10.0%
Reduced positions 31 35 -11.4%
13F shares
Current Prev Q Change
Total value 250.62M 168.14M +49.1%
Total shares 5.28M 5.36M -1.4%
Total puts 9.2K 0 NEW
Total calls 2.8K 0 NEW
Total put/call ratio 3.3
Largest owners
Shares Value Change
BLK Blackrock 693.98K $21.81M +4.7%
Dimensional Fund Advisors 578.02K $18.17M -0.3%
Vanguard 420.36K $13.21M +2.6%
Greenwich Wealth Management 305.7K $9.61M 0.0%
GS Goldman Sachs 228.89K $7.19M +19.5%
Geode Capital Management 197.92K $6.22M +1.6%
Renaissance Technologies 194.7K $6.12M -33.6%
STT State Street 175.83K $5.53M -2.7%
Arrowstreet Capital, Limited Partnership 166.22K $5.22M -2.9%
Weber Alan W 157.65K $4.96M NEW
Largest transactions
Shares Bought/sold Change
Weber Alan W 157.65K +157.65K NEW
Hotchkis & Wiley Capital Management 0 -107.45K EXIT
Renaissance Technologies 194.7K -98.5K -33.6%
Millennium Management 145.61K +65.19K +81.1%
Ajo 0 -60.82K EXIT
Grantham, Mayo, Van Otterloo & Co. 60.08K -50.25K -45.5%
Panagora Asset Management 44.01K -43.63K -49.8%
Citadel Advisors 53.37K +37.62K +238.9%
GS Goldman Sachs 228.89K +37.38K +19.5%
Russell Investments 79.43K +34.96K +78.6%

Financial report summary

  • 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.
  • Numerous regulatory changes, and enhanced regulatory and enforcement activity, relating to the asset management business may increase our compliance and legal costs and otherwise adversely affect our business.
  • 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.
  • England’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 engages in a broad range of activities in the securities industry, including retail securities brokerage, institutional sales and trading, market-making, research, investment banking (both corporate and public finance), investment advisory and asset management services and trust services. Its principal subsidiaries are Oppenheimer & Co. Inc. ("Oppenheimer") and Oppenheimer Asset Management Inc. ("OAM"). As of December 31, 2020, we provided our services from 92 offices in 24 states located throughout the United States, offices in Tel Aviv, Israel, Hong Kong, China, London, England, St. Helier, Isle of Jersey, Frankfurt, Germany and Geneva, Switzerland. Client assets administered as of December 31, 2020 totaled $104.8 billion. The Company provides investment advisory services through OAM and Oppenheimer Investment Management LLC ("OIM") and Oppenheimer's financial advisor direct programs. At December 31, 2020, client assets under management ("AUM") totaled $38.8 billion. We also provide trust services and products through Oppenheimer Trust Company of Delaware and discount brokerage services through Freedom Investments, Inc. ("Freedom"). Through OPY Credit Corp., we offer syndication as well as trading of issued syndicated corporate loans. At December 31, 2020, the Company employed 2,908 employees (2,871 full-time and 37 part-time), of whom 1,002 were financial advisors.
  • We are focused on growing our private client and asset management businesses through strategic additions of experienced financial advisors in our existing branch system and employment of experienced money management personnel in our asset management business as well as deploying our capital for expansion through targeted acquisitions. We are also focused on opportunities in our capital market businesses where we can acquire experienced personnel and/or business units that will improve our ability to attract institutional clients in both equities and fixed income without significantly raising our risk profile. In investment banking we are committed to grow our footprint by adding experienced bankers within our existing industry practices.
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