Park Avenue Securities LLC Invests $398,000 in Orix Corp Ads $IX

Key Points

• Park Avenue Securities LLC invested $398,000 to acquire 17,677 shares of Orix Corp Ads, marking the firm’s entry into the stock during the second quarter.
• In addition to Park Avenue, several institutional investors increased their stakes in Orix Corp Ads, including BTC Capital Management Inc. and Aaron Wealth Advisors LLC, reflecting growing interest in the real estate investment trust.
• Orix Corp Ads reported strong earnings, exceeding analysts' expectations with a quarterly EPS of $0.65 and total revenue of $5.21 billion, prompting a downgrade in ratings from "strong-buy" to "buy" by Wall Street analysts.

Park Avenue Securities LLC acquired a new position in shares of Orix Corp Ads (NYSE:IX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 17,677 shares of the real estate investment trust's stock, valued at approximately $398,000.

Several other hedge funds and other institutional investors have also made changes to their positions in IX. BTC Capital Management Inc. boosted its stake in Orix Corp Ads by 4.0% during the 2nd quarter. BTC Capital Management Inc. now owns 101,497 shares of the real estate investment trust's stock valued at $2,286,000 after purchasing an additional 3,879 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Orix Corp Ads during the 2nd quarter valued at $247,000. Gilman Hill Asset Management LLC boosted its stake in Orix Corp Ads by 0.4% during the 2nd quarter. Gilman Hill Asset Management LLC now owns 196,669 shares of the real estate investment trust's stock valued at $4,429,000 after purchasing an additional 705 shares in the last quarter. Aaron Wealth Advisors LLC boosted its stake in Orix Corp Ads by 17.7% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 25,970 shares of the real estate investment trust's stock valued at $585,000 after purchasing an additional 3,913 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Orix Corp Ads by 305.7% during the 1st quarter. Rhumbline Advisers now owns 43,196 shares of the real estate investment trust's stock valued at $902,000 after purchasing an additional 32,548 shares in the last quarter. 1.73% of the stock is currently owned by institutional investors and hedge funds.

Orix Corp Ads Price Performance

IX opened at $26.51 on Tuesday. The stock has a fifty day moving average of $25.42 and a 200-day moving average of $22.50. The firm has a market capitalization of $30.21 billion, a P/E ratio of 12.13, a PEG ratio of 1.00 and a beta of 0.89. Orix Corp Ads has a 12-month low of $17.75 and a 12-month high of $27.21. 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 (NYSE:IX - Get Free Report) last released its earnings results on Thursday, August 7th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.11. Orix Corp Ads had a return on equity of 9.01% and a net margin of 12.70%.The company had revenue of $5.21 billion during the quarter, compared to analyst estimates of $4.96 billion. Equities analysts forecast that Orix Corp Ads will post 11.31 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Orix Corp Ads from a "strong-buy" rating to a "buy" rating in a research report on Friday, August 22nd.

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.

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