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

ORIX Co. (NYSE:IX)’s stock price gapped down before the market opened 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 Analyst Weigh In

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

ORIX Stock Up 0.9 %

The company has a 50-day moving average of $112.05 and a two-hundred day moving average of $112.92. The company has a market capitalization of $25.04 billion, a PE ratio of 9.29, a P/E/G ratio of 1.06 and a beta of 0.91. 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 Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in shares of ORIX in the 3rd quarter worth $1,097,000. MML Investors Services LLC boosted its stake in ORIX by 12.1% in the 3rd quarter. MML Investors Services LLC now owns 3,298 shares of the real estate investment trust’s stock worth $383,000 after purchasing an additional 355 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of ORIX by 1.7% in the third quarter. Orion Portfolio Solutions LLC now owns 8,183 shares of the real estate investment trust’s stock valued at $950,000 after purchasing an additional 134 shares during the period. Quantinno Capital Management LP raised its position in ORIX by 20.0% during the 3rd quarter. Quantinno Capital Management LP now owns 35,200 shares of the real estate investment trust’s stock worth $4,085,000 after buying an additional 5,868 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of ORIX by 8.9% during the third quarter. Captrust Financial Advisors now owns 2,315 shares of the real estate investment trust’s stock worth $269,000 after purchasing an additional 189 shares during the last quarter. Hedge funds and other institutional investors own 1.73% of the company’s stock.

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.