Onity Group Inc. (NYSE:ONIT) Given Consensus Rating of “Hold” by Brokerages

Onity Group Inc. (NYSE:ONIT) has received a consensus recommendation of “Hold” from the five brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $51.6667.

Several brokerages recently weighed in on ONIT. Keefe, Bruyette & Woods upped their price objective on Onity Group from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Zacks Research cut shares of Onity Group from a “hold” rating to a “strong sell” rating in a report on Thursday, August 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Onity Group in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Onity Group from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th.

Institutional Investors Weigh In On Onity Group

Hedge funds have recently modified their holdings of the company. American Century Companies Inc. raised its position in Onity Group by 139.9% in the first quarter. American Century Companies Inc. now owns 75,025 shares of the company’s stock valued at $2,425,000 after purchasing an additional 43,755 shares during the last quarter. Long Focus Capital Management LLC raised its holdings in Onity Group by 3.8% in the 1st quarter. Long Focus Capital Management LLC now owns 677,088 shares of the company’s stock valued at $21,883,000 after buying an additional 25,000 shares during the last quarter. Nuveen LLC acquired a new stake in Onity Group during the 1st quarter worth approximately $443,000. Russell Investments Group Ltd. grew its holdings in Onity Group by 9,153.4% during the 1st quarter. Russell Investments Group Ltd. now owns 57,371 shares of the company’s stock worth $1,854,000 after acquiring an additional 56,751 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Onity Group by 44.1% during the 2nd 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 and hedge funds own 70.16% of the company’s stock.

Onity Group Stock Performance

NYSE ONIT opened at $44.55 on Friday. The company has a current ratio of 37.90, a quick ratio of 37.90 and a debt-to-equity ratio of 23.99. The firm has a market capitalization of $359.03 million, a price-to-earnings ratio of 11.36 and a beta of 1.53. The firm’s 50 day simple moving average is $39.66 and its 200 day simple moving average is $39.33. Onity Group has a 1 year low of $25.50 and a 1 year high of $45.83.

Onity Group (NYSE:ONIT) last announced its quarterly earnings data on Thursday, November 6th. The company reported $3.44 EPS for the quarter, beating the consensus estimate of $1.92 by $1.52. The business had revenue of $62.30 million during the quarter, compared to the consensus estimate of $257.77 million. Onity Group had a net margin of 3.74% and a return on equity of 18.99%. As a group, research analysts expect that Onity Group will post 10.51 earnings per share for the current fiscal year.

About Onity Group

Onity Group Inc, a financial services company, originates and services mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines. It operates through, Servicing and Originations segments. The company provides commercial forward mortgage loan servicing, reverse mortgage servicing, special servicing, and asset management services for to owners of mortgage loans and foreclosed real estate, as well as residential mortgage loan servicing, such as forward and reverse conventional, government-insured, and non-agency loans, including the reverse mortgage loans classified as loans.