Assetmark Inc. Acquires 23,516 Shares of Orix Corp Ads (NYSE:IX)

Key Points

• Assetmark Inc. significantly increased its stake in Orix Corp Ads by 397.6% in Q1, now owning 29,430 shares valued at $615,000.
• Orix Corp Ads reported earnings per share of $0.46 for the last quarter, missing estimates by ($0.20) amid revenues of $4.86 billion, below analyst predictions.
• Shares of Orix Corp Ads were trading at $22.87 with a market cap of $26.06 billion and a PE ratio of 11.33.

Assetmark Inc. increased its holdings in Orix Corp Ads (NYSE:IX - Free Report) by 397.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,430 shares of the real estate investment trust's stock after acquiring an additional 23,516 shares during the period. Assetmark Inc.'s holdings in Orix Corp Ads were worth $615,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky grew its position in Orix Corp Ads by 400.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 1,058,900 shares of the real estate investment trust's stock worth $22,120,000 after purchasing an additional 847,120 shares in the last quarter. Bank of America Corp DE grew its position in Orix Corp Ads by 1.3% in the 4th quarter. Bank of America Corp DE now owns 424,770 shares of the real estate investment trust's stock worth $45,123,000 after purchasing an additional 5,301 shares in the last quarter. Boston Common Asset Management LLC increased its stake in shares of Orix Corp Ads by 528.1% during the 1st quarter. Boston Common Asset Management LLC now owns 283,088 shares of the real estate investment trust's stock worth $5,914,000 after purchasing an additional 238,014 shares during the last quarter. Henry James International Management Inc. increased its stake in shares of Orix Corp Ads by 400.0% during the 1st quarter. Henry James International Management Inc. now owns 278,869 shares of the real estate investment trust's stock worth $5,826,000 after purchasing an additional 223,096 shares during the last quarter. Finally, QRG Capital Management Inc. increased its stake in shares of Orix Corp Ads by 352.5% during the 1st quarter. QRG Capital Management Inc. now owns 247,085 shares of the real estate investment trust's stock worth $5,162,000 after purchasing an additional 192,478 shares during the last quarter. Institutional investors and hedge funds own 1.73% of the company's stock.

Orix Corp Ads Trading Up 0.4%

Orix Corp Ads stock traded up $0.10 during mid-day trading on Tuesday, hitting $23.42. The company's stock had a trading volume of 45,835 shares, compared to its average volume of 225,048. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.77 and a quick ratio of 1.73. The stock has a market cap of $26.69 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 0.82 and a beta of 0.92. The business has a 50 day moving average price of $22.08 and a 200-day moving average price of $21.05. Orix Corp Ads has a 12 month low of $17.75 and a 12 month high of $25.17.

Orix Corp Ads (NYSE:IX - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.66 by ($0.20). The firm had revenue of $4.86 billion during the quarter, compared to analysts' expectations of $5.17 billion. Orix Corp Ads had a net margin of 12.24% and a return on equity of 8.53%. As a group, analysts forecast that Orix Corp Ads will post 11.31 EPS for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Orix Corp Ads from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th.

About Orix Corp Ads

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.