21,000 Shares in Onity Group Inc. $ONIT Acquired by Gratia Capital LLC

Gratia Capital LLC acquired a new position in shares of Onity Group Inc. (NYSE:ONIT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 21,000 shares of the company’s stock, valued at approximately $835,000. Onity Group makes up approximately 0.5% of Gratia Capital LLC’s investment portfolio, making the stock its 27th biggest position. Gratia Capital LLC owned approximately 0.25% of Onity Group as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in shares of Onity Group by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 464,448 shares of the company’s stock worth $18,238,000 after purchasing an additional 25,390 shares during the last quarter. Oaktree Capital Management LP purchased a new stake in shares of Onity Group in the fourth quarter valued at about $17,896,000. Vanguard Group Inc. raised its stake in Onity Group by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 339,620 shares of the company’s stock valued at $13,571,000 after acquiring an additional 3,473 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Onity Group by 18.3% in the fourth quarter. Wellington Management Group LLP now owns 307,000 shares of the company’s stock valued at $14,058,000 after purchasing an additional 47,500 shares during the period. Finally, Prescott Group Capital Management L.L.C. increased its stake in Onity Group by 29.2% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 212,585 shares of the company’s stock valued at $9,734,000 after buying an additional 47,992 shares during the period. 70.16% of the stock is currently owned by institutional investors and hedge funds.

Onity Group Stock Down 1.5%

ONIT stock opened at $34.34 on Thursday. The company has a 50 day moving average price of $37.65 and a two-hundred day moving average price of $38.70. The company has a debt-to-equity ratio of 11.41, a quick ratio of 16.60 and a current ratio of 16.60. The stock has a market capitalization of $286.77 million, a P/E ratio of 2.22 and a beta of 1.44. Onity Group Inc. has a one year low of $33.00 and a one year high of $54.10.

Onity Group (NYSE:ONIT) 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). The business had revenue of $281.00 million for the quarter, compared to analysts’ expectations of $272.45 million. Onity Group had a return on equity of 8.27% and a net margin of 12.34%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wall Street Zen cut Onity Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. BTIG Research cut their price objective on Onity Group from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, June 16th. Weiss Ratings downgraded shares of Onity Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 19th. Keefe, Bruyette & Woods reduced their price target on shares of Onity Group from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Wednesday, August 12th. Finally, Texas Capital raised Onity Group to a “strong-buy” rating in a report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $52.50.

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.