Onity Group Inc. $ONIT Position Lessened by Rhumbline Advisers

Rhumbline Advisers trimmed its position in shares of Onity Group Inc. (NYSE:ONIT) by 6.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,569 shares of the company’s stock after selling 622 shares during the period. Rhumbline Advisers owned about 0.12% of Onity Group worth $309,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC raised its holdings in shares of Onity Group by 206.5% during the first quarter. Acadian Asset Management LLC now owns 41,823 shares of the company’s stock worth $1,351,000 after acquiring an additional 28,178 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Onity Group during the first quarter worth $256,000. Empowered Funds LLC raised its holdings in shares of Onity Group by 7.1% during the first quarter. Empowered Funds LLC now owns 48,029 shares of the company’s stock worth $1,552,000 after acquiring an additional 3,184 shares in the last quarter. Long Focus Capital Management LLC raised its holdings in shares of Onity Group by 3.8% during the first quarter. Long Focus Capital Management LLC now owns 677,088 shares of the company’s stock worth $21,883,000 after acquiring an additional 25,000 shares in the last quarter. Finally, Corsair Capital Management L.P. purchased a new stake in shares of Onity Group during the first quarter worth $162,000. 70.16% of the stock is currently owned by hedge funds and other institutional investors.

Onity Group Trading Down 0.9%

Onity Group stock opened at $40.75 on Friday. The company has a debt-to-equity ratio of 23.99, a quick ratio of 37.90 and a current ratio of 37.90. The business’s 50-day simple moving average is $40.70 and its 200-day simple moving average is $36.93. The firm has a market capitalization of $328.41 million, a PE ratio of 10.39 and a beta of 1.44. Onity Group Inc. has a 52 week low of $25.50 and a 52 week high of $45.83.

Onity Group (NYSE:ONIT) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.21). The business had revenue of $246.60 million during the quarter, compared to the consensus estimate of $252.90 million. Onity Group had a return on equity of 18.99% and a net margin of 3.74%. Equities research analysts forecast that Onity Group Inc. will post 10.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ONIT. B. Riley increased their price objective on Onity Group from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, June 20th. Keefe, Bruyette & Woods raised their target price on Onity Group from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. Zacks Research lowered Onity Group from a “hold” rating to a “strong sell” rating in a report on Thursday, August 21st. Finally, Wall Street Zen upgraded Onity Group from a “hold” rating to a “buy” rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Onity Group Company Profile

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.