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

Onity Group Inc. (NYSE:ONIT) has been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $54.00.

ONIT has been the subject of several recent research reports. BTIG Research reduced their target price on shares of Onity Group from $60.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, June 16th. Texas Capital raised shares of Onity Group to a “strong-buy” rating in a report on Wednesday, June 10th. Keefe, Bruyette & Woods cut their price target 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. Weiss Ratings lowered Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Finally, Wall Street Zen raised Onity Group from a “strong sell” rating to a “sell” rating in a report on Saturday, July 25th.

Onity Group Trading Up 0.4%

Onity Group stock opened at $40.55 on Thursday. 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 company has a market capitalization of $341.84 million, a price-to-earnings ratio of 2.09 and a beta of 1.43. The stock has a 50-day moving average price of $37.66 and a 200 day moving average price of $40.99.

Onity Group (NYSE:ONIT) last posted its quarterly earnings results 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 return on equity of 9.10% and a net margin of 15.75%.The business had revenue of $278.00 million for the quarter, compared to analysts’ expectations of $290.10 million.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ONIT. Bank of America Corp DE boosted its position in Onity Group by 120.4% in the 1st quarter. Bank of America Corp DE now owns 16,734 shares of the company’s stock worth $657,000 after purchasing an additional 9,142 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of Onity Group by 3.3% during the 1st quarter. Quantinno Capital Management LP now owns 15,254 shares of the company’s stock valued at $599,000 after purchasing an additional 491 shares in the last quarter. Pale Fire Capital SE increased its holdings in shares of Onity Group by 43.9% during the 1st quarter. Pale Fire Capital SE now owns 9,833 shares of the company’s stock valued at $386,000 after purchasing an additional 3,000 shares in the last quarter. State of Wyoming acquired a new position in shares of Onity Group in the 1st quarter valued at $126,000. Finally, First Trust Advisors LP lifted its stake in shares of Onity Group by 6.4% in the 1st quarter. First Trust Advisors LP now owns 21,408 shares of the company’s stock valued at $841,000 after purchasing an additional 1,280 shares during the period. 70.16% of the stock is currently owned by hedge funds and other institutional investors.

About Onity Group

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.