Bridgeway Capital Management LLC Invests $3.30 Million in Onity Group (NYSE:ONIT)

Bridgeway Capital Management LLC bought a new position in shares of Onity Group (NYSE:ONIT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 107,376 shares of the company’s stock, valued at approximately $3,298,000.

Several other institutional investors also recently modified their holdings of ONIT. Bank of America Corp DE acquired a new position in Onity Group during the fourth quarter valued at approximately $294,000. BNP Paribas Financial Markets bought a new position in Onity Group during the fourth quarter worth about $384,000. Ameriprise Financial Inc. bought a new stake in shares of Onity Group in the fourth quarter worth about $209,000. Northern Trust Corp acquired a new stake in shares of Onity Group during the fourth quarter worth about $1,577,000. Finally, RBF Capital LLC bought a new position in shares of Onity Group during the 4th quarter valued at about $3,973,000. 70.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ONIT has been the subject of a number of research reports. BTIG Research reissued a “buy” rating on shares of Onity Group in a research note on Monday. Keefe, Bruyette & Woods upped their target price on shares of Onity Group from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday.

Onity Group Price Performance

Shares of ONIT opened at $37.49 on Friday. The company has a quick ratio of 26.46, a current ratio of 26.46 and a debt-to-equity ratio of 20.28. Onity Group has a twelve month low of $22.40 and a twelve month high of $41.27. The stock has a market capitalization of $300.26 million, a P/E ratio of 9.17 and a beta of 1.89. The company has a 50 day moving average of $31.67 and a 200-day moving average of $32.15.

Onity Group (NYSE:ONIT) last released its earnings results on Wednesday, April 30th. The company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $1.05. Onity Group had a net margin of 3.47% and a return on equity of 20.50%. The business had revenue of $249.80 million during the quarter, compared to the consensus estimate of $244.63 million. As a group, equities research analysts forecast that Onity Group will post 10.51 EPS for the current fiscal year.

Onity Group Profile

Onity Group Inc, a financial services company, originates and services mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines. It operates through, Servicing and Originations segments. The company provides commercial forward mortgage loan servicing, reverse mortgage servicing, special servicing, and asset management services for to owners of mortgage loans and foreclosed real estate, as well as residential mortgage loan servicing, such as forward and reverse conventional, government-insured, and non-agency loans, including the reverse mortgage loans classified as loans.