Analysts Set Onity Group Inc. (NYSE:ONIT) Target Price at $57.50

Shares of Onity Group Inc. (NYSE:ONIT) have earned an average rating of “Hold” from the five research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $57.50.

A number of research analysts have recently commented on the company. Wall Street Zen upgraded Onity Group from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Onity Group in a report on Thursday, December 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Onity Group in a report on Thursday, January 22nd.

Onity Group Price Performance

Shares of NYSE ONIT opened at $44.57 on Thursday. Onity Group has a 1 year low of $25.50 and a 1 year high of $54.10. The stock has a market capitalization of $359.15 million, a P/E ratio of 13.50 and a beta of 1.56. The company’s 50-day moving average is $46.19 and its 200 day moving average is $42.45. The company has a debt-to-equity ratio of 22.41, a current ratio of 38.90 and a quick ratio of 38.90.

Hedge Funds Weigh In On Onity Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Empowered Funds LLC lifted its holdings in shares of Onity Group by 7.1% during the first quarter. Empowered Funds LLC now owns 48,029 shares of the company’s stock valued at $1,552,000 after purchasing an additional 3,184 shares during the last quarter. Jane Street Group LLC bought a new position in Onity Group during the 1st quarter valued at approximately $256,000. Ritholtz Wealth Management purchased a new position in Onity Group during the second quarter valued at $292,000. Cullen Frost Bankers Inc. boosted its holdings in Onity Group by 169.9% in the second quarter. Cullen Frost Bankers Inc. now owns 988 shares of the company’s stock worth $38,000 after acquiring an additional 622 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Onity Group by 44.1% in the second quarter. Acadian Asset Management LLC now owns 60,277 shares of the company’s stock worth $2,299,000 after acquiring an additional 18,454 shares during the last quarter. Institutional investors own 70.16% of the company’s stock.

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.