Gratia Capital LLC acquired a new stake in shares of Onity Group Inc. (NYSE:ONIT – Free Report) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 21,000 shares of the company’s stock, valued at approximately $835,000. Onity Group makes up 0.5% of Gratia Capital LLC’s holdings, making the stock its 27th biggest holding.
Other large investors have also made changes to their positions in the company. Empowered Funds LLC grew its position in Onity Group by 7.1% during the first quarter. Empowered Funds LLC now owns 48,029 shares of the company’s stock valued at $1,552,000 after acquiring an additional 3,184 shares during the period. Jane Street Group LLC purchased a new stake in shares of Onity Group during the 1st quarter worth about $256,000. Geode Capital Management LLC increased its position in Onity Group by 6.3% during the 2nd quarter. Geode Capital Management LLC now owns 148,257 shares of the company’s stock worth $5,660,000 after purchasing an additional 8,748 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Onity Group by 585.2% in the second quarter. JPMorgan Chase & Co. now owns 128,210 shares of the company’s stock valued at $4,894,000 after buying an additional 109,498 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in Onity Group by 36.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 86,790 shares of the company’s stock valued at $3,313,000 after buying an additional 22,980 shares in the last quarter. 70.16% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
ONIT has been the topic of a number of research reports. BTIG Research cut their target price 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. Texas Capital upgraded Onity Group to a “strong-buy” rating in a report on Wednesday, June 10th. Weiss Ratings cut Onity Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. Wall Street Zen downgraded shares of Onity Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Onity Group from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $52.50.
Onity Group Price Performance
ONIT stock opened at $34.34 on Thursday. The company has a quick ratio of 16.60, a current ratio of 16.60 and a debt-to-equity ratio of 11.41. Onity Group Inc. has a 52-week low of $33.00 and a 52-week high of $54.10. The stock’s 50 day moving average is $37.65 and its two-hundred day moving average is $38.70. The company has a market capitalization of $286.77 million, a PE ratio of 2.22 and a beta of 1.44.
Onity Group (NYSE:ONIT – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($1.53) EPS for the quarter, missing the consensus estimate of $0.95 by ($2.48). Onity Group had a net margin of 12.34% and a return on equity of 8.27%. The business had revenue of $281.00 million for the quarter, compared to analysts’ expectations of $272.45 million.
Onity Group Profile
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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