Onity Group Inc. (NYSE:ONIT) Receives Average Recommendation of “Moderate Buy” from Analysts

Onity Group Inc. (NYSE:ONIT – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $54.00.

Several research analysts recently weighed in on the stock. BTIG Research reduced their price objective on shares of Onity Group from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. Wall Street Zen raised shares of Onity Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 25th. Keefe, Bruyette & Woods cut their target price on shares of Onity Group from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. Weiss Ratings cut shares of Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Finally, Texas Capital raised shares of Onity Group to a “strong-buy” rating in a report on Wednesday, June 10th.

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Read Our Latest Analysis on ONIT

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ONIT. CWM LLC increased its holdings in shares of Onity Group by 60.3% in the fourth quarter. CWM LLC now owns 758 shares of the company’s stock worth $35,000 after acquiring an additional 285 shares in the last quarter. State of Wyoming bought a new position in shares of Onity Group during the 2nd quarter valued at about $119,000. BNP Paribas Financial Markets lifted its holdings in shares of Onity Group by 367.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,163 shares of the company’s stock valued at $121,000 after purchasing an additional 2,486 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Onity Group in the 2nd quarter valued at approximately $184,000. Finally, Bank of America Corp DE grew its position in shares of Onity Group by 23.2% in the 3rd quarter. Bank of America Corp DE now owns 5,027 shares of the company’s stock valued at $201,000 after purchasing an additional 945 shares during the period. 70.16% of the stock is currently owned by institutional investors.

Onity Group Price Performance

Shares of ONIT opened at $37.84 on Thursday. The stock has a market cap of $318.97 million, a P/E ratio of 1.95 and a beta of 1.46. Onity Group has a 1 year low of $33.22 and a 1 year high of $54.10. The stock’s 50-day moving average price is $37.82 and its two-hundred day moving average price is $40.70. 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 (NYSE:ONIT – Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($1.63). The company had revenue of $278.00 million during 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%.

About Onity Group

(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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