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

Onity Group Inc. (NYSE:ONIT) has been assigned an average rating of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $54.00.

Several equities analysts recently weighed in on the stock. BTIG Research cut their target price on shares of Onity Group from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. Wall Street Zen downgraded shares of Onity Group from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Texas Capital upgraded Onity Group to a “strong-buy” rating in a research report on Wednesday, June 10th. Weiss Ratings cut Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Finally, Keefe, Bruyette & Woods decreased their target price on Onity Group from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th.

Institutional Trading of Onity Group

A number of large investors have recently added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of Onity Group by 60.3% during the 4th quarter. CWM LLC now owns 758 shares of the company’s stock worth $35,000 after acquiring an additional 285 shares in the last quarter. State Street Corp increased its position in Onity Group by 0.3% in the fourth quarter. State Street Corp now owns 128,906 shares of the company’s stock worth $5,903,000 after purchasing an additional 362 shares during the last quarter. Quantinno Capital Management LP increased its position in Onity Group by 3.3% in the first quarter. Quantinno Capital Management LP now owns 15,254 shares of the company’s stock worth $599,000 after purchasing an additional 491 shares during the last quarter. First Trust Advisors LP raised its stake in Onity Group by 2.5% during the fourth quarter. First Trust Advisors LP now owns 20,128 shares of the company’s stock valued at $922,000 after purchasing an additional 498 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Onity Group by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 150,832 shares of the company’s stock valued at $6,908,000 after purchasing an additional 837 shares during the last quarter. Institutional investors own 70.16% of the company’s stock.

Onity Group Price Performance

NYSE:ONIT opened at $38.35 on Friday. The business’s 50-day simple moving average is $37.22 and its two-hundred day simple moving average is $41.48. The company has a quick ratio of 46.07, a current ratio of 46.07 and a debt-to-equity ratio of 19.46. Onity Group has a 52 week low of $33.22 and a 52 week high of $54.10. The stock has a market cap of $323.29 million, a PE ratio of 1.98 and a beta of 1.43.

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

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.