Onity Group Inc. (NYSE:ONIT) Receives Average Rating of “Hold” from Analysts

Onity Group Inc. (NYSE:ONIT) has earned a consensus recommendation of “Hold” from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $57.6667.

Several equities research analysts have issued reports on the stock. Weiss Ratings downgraded shares of Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Wall Street Zen downgraded shares of Onity Group from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Keefe, Bruyette & Woods decreased their price objective on shares of Onity Group from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Finally, BTIG Research boosted their price objective on shares of Onity Group from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th.

Institutional Investors Weigh In On Onity Group

Several institutional investors have recently bought and sold shares of ONIT. Oaktree Capital Management LP purchased a new stake in Onity Group during the fourth quarter worth approximately $17,896,000. Wellington Management Group LLP purchased a new stake in Onity Group during the third quarter worth approximately $10,370,000. JPMorgan Chase & Co. grew its stake in Onity Group by 585.2% during the second quarter. JPMorgan Chase & Co. now owns 128,210 shares of the company’s stock worth $4,894,000 after buying an additional 109,498 shares during the period. Franklin Resources Inc. purchased a new stake in Onity Group during the third quarter worth approximately $2,742,000. Finally, Prescott Group Capital Management L.L.C. grew its stake in Onity Group by 29.2% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 212,585 shares of the company’s stock worth $9,734,000 after buying an additional 47,992 shares during the period. 70.16% of the stock is currently owned by hedge funds and other institutional investors.

Onity Group Price Performance

Onity Group stock opened at $36.70 on Wednesday. Onity Group has a 1 year low of $33.22 and a 1 year high of $54.10. The firm has a 50 day moving average price of $39.68 and a 200 day moving average price of $42.49. The company has a market cap of $309.36 million, a price-to-earnings ratio of 1.89 and a beta of 1.45. The company has a debt-to-equity ratio of 19.46, a quick ratio of 46.07 and a current ratio of 46.07.

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

Onity Group Company 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.