Onity Group (NYSE:ONIT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Onity Group (NYSE:ONIT) from a strong sell rating to a sell rating in a research report released on Monday,Wall Street Zen reports.

Several other equities research analysts have also weighed in on the company. Keefe, Bruyette & Woods lowered their price objective on Onity Group from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 12th. Weiss Ratings downgraded Onity Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, October 21st. Finally, BTIG Research decreased their price target on Onity Group from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

Onity Group Price Performance

Shares of Onity Group stock opened at $30.77 on Monday. 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 firm’s 50-day simple moving average is $30.03 and its 200-day simple moving average is $37.65. Onity Group has a twelve month low of $24.86 and a twelve month high of $54.10. The firm has a market cap of $256.94 million, a P/E ratio of 5.38 and a beta of 1.48.

Onity Group (NYSE:ONIT) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($1.53) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($2.48). The business had revenue of $281.00 million during the quarter, compared to analyst estimates of $272.45 million. Onity Group had a return on equity of 8.27% and a net margin of 12.34%.

Hedge Funds Weigh In On Onity Group

Several institutional investors have recently bought and sold shares of the business. State of Wyoming bought a new stake in shares of Onity Group during the first quarter worth $126,000. Hillsdale Investment Management Inc. bought a new position in shares of Onity Group in the first quarter valued at about $357,000. Pale Fire Capital SE lifted its position in Onity Group by 43.9% during the 1st quarter. Pale Fire Capital SE now owns 9,833 shares of the company’s stock worth $386,000 after buying an additional 3,000 shares in the last quarter. Quantinno Capital Management LP lifted its position in Onity Group by 3.3% during the 1st quarter. Quantinno Capital Management LP now owns 15,254 shares of the company’s stock worth $599,000 after buying an additional 491 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Onity Group by 120.4% during the 1st quarter. Bank of America Corp DE now owns 16,734 shares of the company’s stock worth $657,000 after buying an additional 9,142 shares in the last quarter. Institutional investors own 70.16% of the company’s stock.

Onity Group Company Profile

Onity Group Inc (NYSE: ONIT), formerly known as Ocwen Financial Corporation, is a financial services company focused on residential mortgage loan servicing and origination. The company works with mortgage investors, lenders, financial institutions and government-sponsored entities to manage home loans throughout their life cycle.

Through its servicing operations, Onity provides payment processing, borrower assistance, default management, foreclosure prevention and other administrative services for residential mortgages.