ORIX (IX) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of ORIX (NYSE:IX) from a hold rating to a sell rating in a report released on Wednesday morning.

According to Zacks, “ORIX CORP-ADR is a diversified financial services institution with diverse operations in both corporate and retail finance, including: leasing, lending, rentals, life insurance, real estate financing and development, venture capital, investment and retail banking, commodities funds and securities brokerage. Their international operations include leasing, rentals, fixed income investment, aircraft and ship financing, commercial mortgage servicing and property development. “

ORIX stock opened at $76.80 on Wednesday. ORIX has a 52 week low of $75.67 and a 52 week high of $100.03. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.48 and a current ratio of 1.51. The stock has a market capitalization of $20.02 billion, a P/E ratio of 69.82, a price-to-earnings-growth ratio of 0.97 and a beta of 1.17.

Several institutional investors have recently added to or reduced their stakes in IX. PNC Financial Services Group Inc. boosted its position in shares of ORIX by 2,618.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 96,804 shares of the real estate investment trust’s stock worth $7,649,000 after buying an additional 93,243 shares in the last quarter. Bank of America Corp DE boosted its position in shares of ORIX by 14.2% in the 2nd quarter. Bank of America Corp DE now owns 459,273 shares of the real estate investment trust’s stock worth $36,286,000 after buying an additional 57,084 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of ORIX by 6.1% in the 3rd quarter. Clearbridge Investments LLC now owns 345,455 shares of the real estate investment trust’s stock worth $27,992,000 after buying an additional 19,987 shares in the last quarter. Northern Trust Corp boosted its position in shares of ORIX by 5.2% in the 2nd quarter. Northern Trust Corp now owns 281,901 shares of the real estate investment trust’s stock worth $22,274,000 after buying an additional 13,839 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of ORIX in the 2nd quarter worth about $1,089,000. Institutional investors and hedge funds own 1.94% of the company’s stock.

About ORIX

ORIX Corporation provides diversified financial services primarily in Japan and the Americas. It operates through six segments: Corporate Financial Services, Maintenance Leasing, Real Estate, Investment and Operation, Retail, and Overseas Business. The Corporate Financial Services segment engages in lending, leasing, and fee businesses.

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