Short Interest in Orix Corp Ads (NYSE:IX) Expands By 55.9%

Key Points

• Short interest jumped 55.9% in April to 1,004,848 shares (about 0.1% of shares), with a days-to-cover ratio of 2.2, signaling a notable rise in bearish bets on IX.
• Shares traded up 3.8% to $31.55 after the company reported stronger-than-expected results—EPS of $0.69 vs. $0.51 and revenue of $5.72B vs. $4.38B—and the stock trades at a PE of 11.31 with a market cap of $35.02 billion.
• Analyst sentiment is mixed: Wall Street Zen downgraded IX to a "hold" while Weiss Ratings reiterated a "buy (b-)," leaving MarketBeat's average rating at "Buy".

Orix Corp Ads (NYSE:IX - Get Free Report) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totaling 1,004,848 shares, an increase of 55.9% from the March 31st total of 644,474 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 461,323 shares, the days-to-cover ratio is presently 2.2 days.

Analysts Set New Price Targets

Several research firms have recently weighed in on IX. Wall Street Zen downgraded Orix Corp Ads from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Orix Corp Ads in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy".

Orix Corp Ads Trading Up 3.8%

Shares of IX stock traded up $1.15 on Monday, hitting $31.55. 457,931 shares of the stock traded hands, compared to its average volume of 348,337. The firm's 50-day moving average price is $31.66 and its two-hundred day moving average price is $29.51. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.77 and a current ratio of 1.82. The stock has a market capitalization of $35.02 billion, a PE ratio of 11.31, a PEG ratio of 0.70 and a beta of 0.79. Orix Corp Ads has a twelve month low of $19.79 and a twelve month high of $37.04.

Orix Corp Ads (NYSE:IX - Get Free Report) last announced its quarterly earnings results on Monday, February 9th. The real estate investment trust reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.18. The firm had revenue of $5.72 billion for the quarter, compared to analysts' expectations of $4.38 billion. Orix Corp Ads had a net margin of 15.04% and a return on equity of 10.69%. As a group, analysts anticipate that Orix Corp Ads will post 2.58 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of IX. Quantinno Capital Management LP boosted its position in shares of Orix Corp Ads by 88.2% during the 2nd quarter. Quantinno Capital Management LP now owns 481,327 shares of the real estate investment trust's stock valued at $10,839,000 after acquiring an additional 225,580 shares during the last quarter. Millennium Management LLC boosted its position in shares of Orix Corp Ads by 3,021.1% during the 1st quarter. Millennium Management LLC now owns 203,967 shares of the real estate investment trust's stock valued at $4,261,000 after acquiring an additional 197,432 shares during the last quarter. Calamos Wealth Management LLC purchased a new stake in Orix Corp Ads in the fourth quarter valued at $4,103,000. Todd Asset Management LLC raised its position in Orix Corp Ads by 6.1% in the third quarter. Todd Asset Management LLC now owns 1,847,014 shares of the real estate investment trust's stock valued at $48,244,000 after purchasing an additional 105,837 shares during the period. Finally, Bank of America Corp DE raised its position in Orix Corp Ads by 4.4% in the second quarter. Bank of America Corp DE now owns 2,353,948 shares of the real estate investment trust's stock valued at $53,011,000 after purchasing an additional 99,516 shares during the period. Institutional investors and hedge funds own 1.73% of the company's stock.

Orix Corp Ads Company Profile

ORIX Corporation ADS NYSE: IX is the American depositary share listing of ORIX Corporation, a diversified financial services group headquartered in Tokyo, Japan. The company operates across multiple business lines that include leasing and lending, real estate, investment and asset management, and a range of retail and corporate financial services. ORIX's ADS program allows U.S. investors to access ownership in the Tokyo-based group through shares traded on the New York Stock Exchange.

Core activities include equipment leasing and installment financing for corporate customers, corporate lending and structured finance, and real estate development and property management.

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