Onity Group (NYSE:ONIT) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen cut shares of Onity Group (NYSE:ONIT) from a sell rating to a strong sell rating in a report published on Saturday morning.

Other equities research analysts have also recently issued reports about the stock. BTIG Research dropped their price target on shares of Onity Group from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, June 16th. Weiss Ratings restated a “hold (c)” rating on shares of Onity Group in a report on Wednesday. Texas Capital raised Onity Group to a “strong-buy” rating in a report on Wednesday, June 10th. Finally, Keefe, Bruyette & Woods dropped their price target on Onity Group from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Onity Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Onity Group Trading Up 6.6%

NYSE:ONIT opened at $39.37 on Friday. The stock has a market cap of $331.97 million, a price-to-earnings ratio of 2.54 and a beta of 1.46. The company has a debt-to-equity ratio of 19.46, a quick ratio of 46.07 and a current ratio of 46.07. Onity Group has a 1 year low of $33.00 and a 1 year high of $54.10. The business has a fifty day moving average of $38.05 and a 200-day moving average of $40.38.

Onity Group (NYSE:ONIT) last issued its quarterly earnings data 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 company had revenue of $281.00 million for the quarter, compared to the consensus estimate of $272.45 million. Onity Group had a net margin of 12.34% and a return on equity of 8.35%.

Institutional Investors Weigh In On Onity Group

Several large investors have recently made changes to their positions in the company. CWM LLC raised its position in Onity Group by 60.3% during the fourth quarter. CWM LLC now owns 758 shares of the company’s stock valued at $35,000 after acquiring an additional 285 shares in the last quarter. State of Wyoming bought a new position in shares of Onity Group during the 2nd quarter valued at $119,000. BNP Paribas Financial Markets lifted its stake in shares of Onity Group by 367.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,163 shares of the company’s stock valued at $121,000 after purchasing an additional 2,486 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new stake in shares of Onity Group in the 4th quarter valued at $209,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Onity Group in the second quarter worth $184,000. Institutional investors own 70.16% of the company’s stock.

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.