Onity Group (NYSE:ONIT) Price Target Raised to $50.00

Onity Group (NYSE:ONIT) had its target price lifted by Keefe, Bruyette & Woods from $45.00 to $50.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities analysts have also commented on the stock. B. Riley raised shares of Onity Group to a “strong-buy” rating in a report on Tuesday, January 7th. BTIG Research restated a “buy” rating on shares of Onity Group in a research report on Monday.

Onity Group Trading Up 0.7 %

Shares of ONIT stock opened at $37.80 on Wednesday. The stock has a market cap of $302.74 million, a P/E ratio of 9.24 and a beta of 1.89. Onity Group has a 1 year low of $22.40 and a 1 year high of $41.27. The company has a current ratio of 26.46, a quick ratio of 26.46 and a debt-to-equity ratio of 20.28. The stock has a 50 day simple moving average of $31.82 and a 200 day simple moving average of $32.20.

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 return on equity of 20.50% and a net margin of 3.47%. The firm had revenue of $249.80 million during the quarter, compared to the consensus estimate of $244.63 million. On average, research analysts predict that Onity Group will post 10.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Long Focus Capital Management LLC acquired a new stake in Onity Group in the fourth quarter valued at approximately $20,026,000. Oaktree Capital Management LP acquired a new stake in shares of Onity Group during the 4th quarter valued at $12,604,000. Dimensional Fund Advisors LP acquired a new stake in shares of Onity Group during the 4th quarter valued at $12,178,000. Deer Park Road Corp bought a new stake in Onity Group during the 4th quarter worth $9,561,000. Finally, Prescott Group Capital Management L.L.C. increased its holdings in Onity Group by 7.9% in the 1st quarter. Prescott Group Capital Management L.L.C. now owns 164,593 shares of the company’s stock worth $5,320,000 after purchasing an additional 12,000 shares in the last quarter. Institutional investors own 70.16% of the company’s stock.

About Onity Group

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.