Onity Group (NYSE:ONIT) Sees Significant Increase in Short Interest

Onity Group (NYSE:ONIT) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 108,300 shares, a growth of 35.4% from the February 13th total of 80,000 shares. Based on an average daily trading volume, of 47,300 shares, the short-interest ratio is currently 2.3 days. Approximately 1.7% of the company’s stock are short sold.

Onity Group Stock Up 0.5 %

ONIT stock traded up $0.15 during mid-day trading on Monday, hitting $30.43. 20,595 shares of the company were exchanged, compared to its average volume of 32,337. The company has a market capitalization of $239.54 million, a PE ratio of 7.44 and a beta of 1.98. The company has a current ratio of 26.46, a quick ratio of 26.46 and a debt-to-equity ratio of 20.28. Onity Group has a twelve month low of $22.40 and a twelve month high of $41.27. The firm has a fifty day simple moving average of $33.45 and a 200 day simple moving average of $31.51.

Onity Group (NYSE:ONIT) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.39 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.95). Onity Group had a net margin of 3.47% and a return on equity of 20.50%. The business had revenue of $224.80 million during the quarter, compared to analyst estimates of $253.37 million. On average, research analysts forecast that Onity Group will post 10.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new position in shares of Onity Group in the 4th quarter valued at about $84,000. Corebridge Financial Inc. acquired a new position in Onity Group during the 4th quarter valued at about $98,000. New York State Common Retirement Fund acquired a new position in Onity Group during the 4th quarter valued at about $100,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Onity Group during the 4th quarter valued at about $115,000. Finally, Wells Fargo & Company MN acquired a new position in Onity Group during the 4th quarter valued at about $116,000. 70.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ONIT has been the subject of several recent analyst reports. BTIG Research raised shares of Onity Group from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Monday, December 9th. B. Riley raised shares of Onity Group to a “strong-buy” rating in a report on Tuesday, January 7th.

About Onity Group

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.