ORIX (NYSE:IX) Shares Gap Down – Here’s What Happened

ORIX Co. (NYSE:IX)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $108.58, but opened at $106.40. ORIX shares last traded at $106.30, with a volume of 1,664 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered ORIX from a “buy” rating to a “hold” rating in a report on Wednesday.

ORIX Stock Down 1.3 %

The firm has a market cap of $24.88 billion, a PE ratio of 9.36, a PEG ratio of 1.05 and a beta of 0.91. The business’s 50 day moving average price is $112.59 and its 200 day moving average price is $113.00. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.40 and a quick ratio of 1.37.

Institutional Investors Weigh In On ORIX

Several institutional investors and hedge funds have recently added to or reduced their stakes in IX. Addison Advisors LLC acquired a new position in ORIX during the second quarter worth about $29,000. EverSource Wealth Advisors LLC grew its position in shares of ORIX by 44.7% in the first quarter. EverSource Wealth Advisors LLC now owns 453 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 140 shares in the last quarter. CWM LLC increased its holdings in shares of ORIX by 10.8% in the second quarter. CWM LLC now owns 956 shares of the real estate investment trust’s stock valued at $106,000 after purchasing an additional 93 shares during the last quarter. GAMMA Investing LLC lifted its position in ORIX by 26.2% during the second quarter. GAMMA Investing LLC now owns 1,060 shares of the real estate investment trust’s stock worth $118,000 after buying an additional 220 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in ORIX by 143.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,133 shares of the real estate investment trust’s stock worth $126,000 after buying an additional 668 shares during the last quarter. Institutional investors and hedge funds own 1.73% of the company’s stock.

ORIX Company Profile

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.