Onity Group Inc. (NYSE:ONIT) Given Average Recommendation of “Hold” by Analysts

Onity Group Inc. (NYSE:ONIT) has been assigned an average rating of “Hold” from the five brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $57.6667.

A number of brokerages have recently commented on ONIT. Wall Street Zen lowered Onity Group from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Keefe, Bruyette & Woods cut their price target on Onity Group from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Weiss Ratings lowered Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Finally, BTIG Research upped their price target on Onity Group from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, February 12th.

Onity Group Stock Down 1.7%

ONIT opened at $35.34 on Friday. The business has a 50 day moving average price of $40.75 and a 200 day moving average price of $42.99. Onity Group has a twelve month low of $35.24 and a twelve month high of $54.10. The company has a debt-to-equity ratio of 19.46, a quick ratio of 46.07 and a current ratio of 46.07. The firm has a market cap of $297.92 million, a P/E ratio of 1.82 and a beta of 1.56.

Onity Group (NYSE:ONIT) last posted its earnings results on Tuesday, May 5th. The company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($1.63). Onity Group had a return on equity of 9.10% and a net margin of 15.75%.The company had revenue of $278.00 million during the quarter, compared to analyst estimates of $290.10 million.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. CWM LLC lifted its holdings in shares of Onity Group by 60.3% during the fourth quarter. CWM LLC now owns 758 shares of the company’s stock worth $35,000 after buying an additional 285 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of Onity Group during the third quarter worth approximately $77,000. State of Wyoming acquired a new position in shares of Onity Group during the second quarter worth approximately $119,000. BNP Paribas Financial Markets lifted its holdings in shares of Onity Group by 367.2% during the second quarter. BNP Paribas Financial Markets now owns 3,163 shares of the company’s stock worth $121,000 after buying an additional 2,486 shares during the last quarter. Finally, Brandywine Global Investment Management LLC bought a new stake in shares of Onity Group during the fourth quarter valued at approximately $209,000. 70.16% of the stock is currently owned by institutional investors and hedge funds.

Onity Group Company 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.