Onity Group (NYSE:ONIT – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued on Sunday, Wall Street Zen reports.
Other equities research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods reduced their target price on shares of Onity Group from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, August 12th. BTIG Research lowered their price target on Onity Group from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, October 12th. Finally, Weiss Ratings cut Onity Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Onity Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.
View Our Latest Stock Analysis on ONIT
Onity Group Stock Up 0.9%
ONIT stock opened at $25.93 on Friday. The company has a fifty day moving average price of $31.45 and a 200 day moving average price of $38.51. Onity Group has a 12 month low of $24.86 and a 12 month high of $54.10. The company has a market cap of $216.47 million, a price-to-earnings ratio of 4.82 and a beta of 1.49. The company has a debt-to-equity ratio of 11.41, a current ratio of 16.60 and a quick ratio of 16.60.
Onity Group (NYSE:ONIT – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($1.53) earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($2.48). Onity Group had a return on equity of 8.27% and a net margin of 12.34%. The business had revenue of $281.00 million for the quarter, compared to analyst estimates of $272.45 million.
Hedge Funds Weigh In On Onity Group
A number of hedge funds and other institutional investors have recently bought and sold shares of ONIT. Dimensional Fund Advisors LP increased its stake in Onity Group by 5.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 464,448 shares of the company’s stock valued at $18,238,000 after buying an additional 25,390 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Onity Group in the second quarter valued at about $1,062,000. First Trust Advisors LP boosted its holdings in shares of Onity Group by 6.4% in the first quarter. First Trust Advisors LP now owns 21,408 shares of the company’s stock valued at $841,000 after acquiring an additional 1,280 shares in the last quarter. Gratia Capital LLC purchased a new stake in shares of Onity Group in the second quarter valued at about $835,000. Finally, Bank of America Corp DE increased its stake in shares of Onity Group by 120.4% during the first quarter. Bank of America Corp DE now owns 16,734 shares of the company’s stock worth $657,000 after acquiring an additional 9,142 shares during the period. 70.16% of the stock is currently owned by hedge funds and other institutional investors.
Onity Group Company Profile
Onity Group Inc (NYSE: ONIT), formerly known as Ocwen Financial Corporation, is a financial services company focused on residential mortgage loan servicing and origination. The company works with mortgage investors, lenders, financial institutions and government-sponsored entities to manage home loans throughout their life cycle.
Through its servicing operations, Onity provides payment processing, borrower assistance, default management, foreclosure prevention and other administrative services for residential mortgages.
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