Eagle Global Advisors LLC Acquires 316,796 Shares of Orix Corp Ads (NYSE:IX)

Key Points

• Eagle Global Advisors LLC significantly increased its holdings in Orix Corp Ads by 392.5% during the first quarter, acquiring an additional 316,796 shares and bringing its total to 397,500 shares.
• Orix Corp Ads reported $0.65 earnings per share for the latest quarter, exceeding analyst expectations of $0.54, with revenues amounting to $5.21 billion against estimates of $4.96 billion.
• Wall Street analysts have upgraded Orix Corp Ads from a “hold” rating to a “strong-buy” rating, indicating positive expectations for the company's future performance.

Eagle Global Advisors LLC grew its stake in Orix Corp Ads (NYSE:IX - Free Report) by 392.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 397,500 shares of the real estate investment trust's stock after acquiring an additional 316,796 shares during the period. Eagle Global Advisors LLC's holdings in Orix Corp Ads were worth $8,304,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Bruce G. Allen Investments LLC lifted its position in Orix Corp Ads by 388.5% during the first quarter. Bruce G. Allen Investments LLC now owns 1,270 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 1,010 shares during the last quarter. Farther Finance Advisors LLC grew its position in Orix Corp Ads by 234.7% during the first quarter. Farther Finance Advisors LLC now owns 1,563 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 1,096 shares during the period. Wayfinding Financial LLC acquired a new stake in shares of Orix Corp Ads in the first quarter valued at about $34,000. Brentview Investment Management LLC acquired a new position in Orix Corp Ads during the first quarter worth about $37,000. Finally, Bessemer Group Inc. boosted its position in Orix Corp Ads by 3,582.3% during the first quarter. Bessemer Group Inc. now owns 2,283 shares of the real estate investment trust's stock worth $48,000 after acquiring an additional 2,221 shares during the last quarter. Hedge funds and other institutional investors own 1.73% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Orix Corp Ads from a "hold" rating to a "strong-buy" rating in a report on Saturday.

Orix Corp Ads Trading Down 0.1%

Shares of IX traded down $0.03 during mid-day trading on Wednesday, hitting $25.42. The company had a trading volume of 86,755 shares, compared to its average volume of 208,676. The stock has a market cap of $28.97 billion, a PE ratio of 11.63, a P/E/G ratio of 0.96 and a beta of 0.92. The company has a quick ratio of 1.72, a current ratio of 1.76 and a debt-to-equity ratio of 1.36. Orix Corp Ads has a 1-year low of $17.75 and a 1-year high of $25.53. The business's 50-day simple moving average is $22.58 and its 200-day simple moving average is $21.23.

Orix Corp Ads (NYSE:IX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The real estate investment trust reported $0.65 EPS for the quarter, topping the consensus estimate of $0.54 by $0.11. Orix Corp Ads had a net margin of 12.70% and a return on equity of 9.01%. The business had revenue of $5.21 billion during the quarter, compared to analyst estimates of $4.96 billion. Sell-side analysts forecast that Orix Corp Ads will post 11.31 earnings per share for the current year.

Orix Corp Ads 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.