ORIX (NYSE:IX) Shares Gap Up to $121.79

ORIX Co. (NYSE:IX) shares gapped up before the market opened on Monday . The stock had previously closed at $121.79, but opened at $125.00. ORIX shares last traded at $123.04, with a volume of 4,250 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded ORIX from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th.

ORIX Price Performance

The company’s 50-day moving average price is $117.53 and its 200-day moving average price is $111.06. The company has a quick ratio of 1.77, a current ratio of 1.81 and a debt-to-equity ratio of 1.38. The firm has a market cap of $28.29 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 1.02 and a beta of 0.91.

ORIX (NYSE:IX) last released its earnings results on Monday, August 5th. The real estate investment trust reported $2.41 earnings per share (EPS) for the quarter. The company had revenue of $4.54 billion for the quarter. ORIX had a net margin of 13.01% and a return on equity of 9.29%. On average, equities research analysts forecast that ORIX Co. will post 11.23 EPS for the current year.

Hedge Funds Weigh In On ORIX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IX. Addison Advisors LLC purchased a new position in ORIX during the 2nd quarter worth approximately $29,000. EverSource Wealth Advisors LLC increased its holdings in shares of ORIX by 44.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 453 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 140 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of ORIX by 573.9% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 465 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 396 shares during the period. GAMMA Investing LLC raised its position in ORIX by 27.7% in the 1st quarter. GAMMA Investing LLC now owns 840 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 182 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in ORIX by 135.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 842 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 485 shares during the last quarter. 1.73% of the stock is owned by institutional investors and hedge funds.

About ORIX

ORIX Corporation provides diversified financial services in Japan, the United States, Asia, Europe, Australasia, and the Middle East. The company's Corporate Financial Services and Maintenance Leasing segment is involved in the finance and fee; leasing and rental of automobiles, electronic measuring instruments, and ICT-related equipment businesses; and provision of life insurance and environment and energy-related products and services.