Elevation Point Wealth Partners LLC Increases Stock Position in Orix Corp Ads (NYSE:IX)

Elevation Point Wealth Partners LLC increased its holdings in shares of Orix Corp Ads (NYSE:IX - Free Report) by 426.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,025 shares of the real estate investment trust's stock after buying an additional 18,650 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Orix Corp Ads were worth $481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its holdings in shares of Orix Corp Ads by 133.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 41,283 shares of the real estate investment trust's stock valued at $4,376,000 after buying an additional 23,595 shares during the last quarter. ABC Arbitrage SA purchased a new stake in Orix Corp Ads during the 4th quarter valued at about $865,000. Bank of New York Mellon Corp increased its holdings in shares of Orix Corp Ads by 2.3% in the fourth quarter. Bank of New York Mellon Corp now owns 21,181 shares of the real estate investment trust's stock valued at $2,250,000 after purchasing an additional 474 shares during the period. Todd Asset Management LLC raised its stake in shares of Orix Corp Ads by 0.6% in the fourth quarter. Todd Asset Management LLC now owns 346,220 shares of the real estate investment trust's stock worth $36,779,000 after purchasing an additional 2,224 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in shares of Orix Corp Ads by 2.2% during the fourth quarter. QRG Capital Management Inc. now owns 54,607 shares of the real estate investment trust's stock worth $5,801,000 after purchasing an additional 1,178 shares during the period. 1.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Orix Corp Ads Stock Performance

Shares of Orix Corp Ads stock traded down $0.44 during trading on Tuesday, hitting $21.16. 230,760 shares of the company's stock were exchanged, compared to its average volume of 171,841. The stock has a market capitalization of $24.12 billion, a price-to-earnings ratio of 10.70, a PEG ratio of 0.79 and a beta of 0.85. The business has a 50-day simple moving average of $20.40 and a 200-day simple moving average of $20.83. Orix Corp Ads has a 52-week low of $17.75 and a 52-week high of $25.17. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.73 and a current ratio of 1.77.

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 for the quarter, missing analysts' consensus estimates of $0.66 by ($0.20). Orix Corp Ads had a net margin of 12.24% and a return on equity of 8.53%. The company had revenue of $4.86 billion for the quarter, compared to analysts' expectations of $5.17 billion. On average, research analysts forecast that Orix Corp Ads will post 11.31 EPS for the current year.

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.