Onity Group Inc. (NYSE:ONIT) Given Average Rating of “Hold” by Brokerages

Shares of Onity Group Inc. (NYSE:ONITGet Free Report) have earned a consensus recommendation of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $57.6667.

A number of analysts have recently issued reports on the company. Weiss Ratings cut Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Wall Street Zen cut Onity Group from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. BTIG Research boosted their price objective on Onity Group from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Finally, Keefe, Bruyette & Woods lowered their price objective on Onity Group from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th.

Read Our Latest Analysis on Onity Group

Institutional Trading of Onity Group

A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in Onity Group by 5.8% in the first quarter. Dimensional Fund Advisors LP now owns 464,448 shares of the company’s stock valued at $18,238,000 after acquiring an additional 25,390 shares during the period. Oaktree Capital Management LP bought a new stake in Onity Group in the fourth quarter valued at $17,896,000. Vanguard Group Inc. grew its position in Onity Group by 1.0% in the third quarter. Vanguard Group Inc. now owns 339,620 shares of the company’s stock valued at $13,571,000 after acquiring an additional 3,473 shares during the period. Wellington Management Group LLP grew its position in Onity Group by 18.3% in the fourth quarter. Wellington Management Group LLP now owns 307,000 shares of the company’s stock valued at $14,058,000 after acquiring an additional 47,500 shares during the period. Finally, Prescott Group Capital Management L.L.C. increased its holdings in Onity Group by 29.2% during the 4th quarter. Prescott Group Capital Management L.L.C. now owns 212,585 shares of the company’s stock valued at $9,734,000 after purchasing an additional 47,992 shares in the last quarter. 70.16% of the stock is currently owned by institutional investors.

Onity Group Stock Performance

ONIT opened at $35.34 on Friday. The stock has a market cap of $297.92 million, a PE ratio of 1.82 and a beta of 1.56. The company has a current ratio of 46.07, a quick ratio of 46.07 and a debt-to-equity ratio of 19.46. Onity Group has a 1 year low of $35.24 and a 1 year high of $54.10. The stock’s 50 day simple moving average is $40.75 and its 200-day simple moving average is $42.99.

Onity Group (NYSE:ONITGet Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($1.63). The firm had revenue of $278.00 million for the quarter, compared to the consensus estimate of $290.10 million. Onity Group had a net margin of 15.75% and a return on equity of 9.10%.

Onity Group Company Profile

(Get Free Report)

Onity Group, listed on the New York Stock Exchange under the ticker ONIT, is a technology company specializing in enterprise operations management software. Its platform is designed to help legal, finance, human resources and corporate services teams automate and streamline mission-critical workflows. Leveraging artificial intelligence and no-code automation tools, Onity’s solutions aim to reduce manual processes, improve visibility and ensure compliance across complex organizational structures.

The company’s flagship offerings include contract lifecycle management, matter management, e-billing and spend management, as well as enterprise deal management.

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Analyst Recommendations for Onity Group (NYSE:ONIT)

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