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 $111.50, but opened at $108.36. ORIX shares last traded at $107.98, with a volume of 3,600 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of ORIX from a “hold” rating to a “buy” rating in a research note on Tuesday.

ORIX Stock Performance

The stock has a fifty day moving average of $113.79 and a 200-day moving average of $112.82. The company has a quick ratio of 1.77, a current ratio of 1.40 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $25.15 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 0.95 and a beta of 0.91.

Institutional Trading of ORIX

A number of institutional investors have recently modified their holdings of IX. FMR LLC boosted its position in shares of ORIX by 9.9% during the third quarter. FMR LLC now owns 647,689 shares of the real estate investment trust’s stock worth $75,164,000 after buying an additional 58,178 shares during the period. Cerity Partners LLC boosted its position in shares of ORIX by 47.0% in the 3rd quarter. Cerity Partners LLC now owns 20,370 shares of the real estate investment trust’s stock valued at $2,364,000 after purchasing an additional 6,513 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in ORIX by 12.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 26,209 shares of the real estate investment trust’s stock worth $3,042,000 after purchasing an additional 2,984 shares during the period. Advisors Asset Management Inc. lifted its position in shares of ORIX by 18.2% in the third quarter. Advisors Asset Management Inc. now owns 7,474 shares of the real estate investment trust’s stock worth $867,000 after purchasing an additional 1,151 shares in the last quarter. Finally, Caprock Group LLC raised its holdings in shares of ORIX by 7.6% during the 3rd quarter. Caprock Group LLC now owns 4,271 shares of the real estate investment trust’s stock valued at $496,000 after purchasing an additional 300 shares in the last quarter. 1.73% of the stock is currently owned by hedge funds and other institutional investors.

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.