Prescott Group Capital Management L.L.C. Purchases 47,992 Shares of Onity Group Inc. $ONIT

Prescott Group Capital Management L.L.C. lifted its position in shares of Onity Group Inc. (NYSE:ONIT) by 29.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 212,585 shares of the company’s stock after acquiring an additional 47,992 shares during the quarter. Onity Group makes up about 0.9% of Prescott Group Capital Management L.L.C.’s investment portfolio, making the stock its 20th largest position. Prescott Group Capital Management L.L.C. owned approximately 2.64% of Onity Group worth $9,734,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ONIT. CWM LLC raised its position in shares of Onity Group by 60.3% during the fourth quarter. CWM LLC now owns 758 shares of the company’s stock worth $35,000 after acquiring an additional 285 shares during the last quarter. AlphaQuest LLC acquired a new position in Onity Group in the third quarter valued at about $77,000. State of Wyoming acquired a new position in Onity Group in the second quarter valued at about $119,000. BNP Paribas Financial Markets lifted its stake in Onity Group by 367.2% in the second quarter. BNP Paribas Financial Markets now owns 3,163 shares of the company’s stock valued at $121,000 after buying an additional 2,486 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Onity Group in the second quarter valued at about $184,000. Institutional investors own 70.16% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on ONIT shares. Keefe, Bruyette & Woods cut their target price 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. Weiss Ratings lowered Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. BTIG Research increased their target price on Onity Group from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Finally, Wall Street Zen lowered Onity Group from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $57.67.

Onity Group Stock Up 0.4%

Shares of Onity Group stock opened at $34.60 on Thursday. Onity Group Inc. has a 1 year low of $34.30 and a 1 year high of $54.10. The business has a 50-day moving average of $40.44 and a two-hundred day moving average of $42.97. The company has a market capitalization of $291.68 million, a P/E ratio of 1.78 and a beta of 1.56. The company has a debt-to-equity ratio of 19.46, a current ratio of 46.07 and a quick ratio of 46.07.

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

Onity Group 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.