Onity Group Inc. (NYSE:ONIT) Receives Average Rating of “Hold” from Analysts

Shares of Onity Group Inc. (NYSE:ONIT) have been given an average recommendation of “Hold” by the five research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $51.6667.

A number of research analysts have commented on the company. Zacks Research lowered Onity Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Onity Group in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their price objective on Onity Group from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Finally, Wall Street Zen raised Onity Group from a “hold” rating to a “buy” rating in a report on Sunday, November 16th.

Hedge Funds Weigh In On Onity Group

Large investors have recently bought and sold shares of the business. Qube Research & Technologies Ltd bought a new position in Onity Group in the third quarter valued at approximately $507,000. Brevan Howard Capital Management LP acquired a new position in shares of Onity Group in the 3rd quarter valued at $220,000. Bank of America Corp DE boosted 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 worth $201,000 after purchasing an additional 945 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of Onity Group by 64.1% during the third quarter. Two Sigma Investments LP now owns 36,388 shares of the company’s stock worth $1,454,000 after purchasing an additional 14,218 shares during the period. Finally, Wellington Management Group LLP bought a new stake in Onity Group in the third quarter valued at about $10,370,000. 70.16% of the stock is currently owned by institutional investors and hedge funds.

Onity Group Trading Up 2.3%

Shares of NYSE ONIT opened at $43.52 on Friday. Onity Group has a 1-year low of $25.50 and a 1-year high of $45.83. The company has a 50-day moving average of $39.60 and a two-hundred day moving average of $39.10. The company has a market cap of $350.73 million, a PE ratio of 11.10 and a beta of 1.53. The company has a current ratio of 37.90, a quick ratio of 37.90 and a debt-to-equity ratio of 23.99.

Onity Group (NYSE:ONIT) last issued its quarterly earnings results on Thursday, November 6th. The company reported $3.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $1.52. Onity Group had a net margin of 3.74% and a return on equity of 18.99%. The business had revenue of $62.30 million during the quarter, compared to analyst estimates of $257.77 million. As a group, equities analysts expect that Onity Group will post 10.51 earnings per share for the current fiscal year.

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.