Onity Group (NYSE:ONIT) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Onity Group (NYSE:ONIT) from a buy rating to a hold rating in a research note issued to investors on Saturday.

ONIT has been the topic of several other research reports. Zacks Research cut shares of Onity Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 21st. Keefe, Bruyette & Woods increased their price objective on Onity Group from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Onity Group in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $50.00.

Onity Group Stock Down 0.5%

NYSE ONIT traded down $0.21 during mid-day trading on Friday, hitting $38.30. The company’s stock had a trading volume of 40,842 shares, compared to its average volume of 45,312. The firm has a market capitalization of $308.51 million, a price-to-earnings ratio of 9.77 and a beta of 1.53. The company’s 50 day simple moving average is $39.80 and its 200 day simple moving average is $38.64. The company has a current ratio of 37.90, a quick ratio of 37.90 and a debt-to-equity ratio of 23.99. Onity Group has a twelve month low of $25.50 and a twelve month high of $45.83.

Onity Group (NYSE:ONIT) last released its quarterly earnings data on Thursday, November 6th. The company reported $3.44 earnings per share for the quarter, topping the consensus estimate of $1.92 by $1.52. The firm had revenue of $62.30 million for 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%. Analysts anticipate that Onity Group will post 10.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Long Focus Capital Management LLC raised its stake in shares of Onity Group by 3.8% during the 1st quarter. Long Focus Capital Management LLC now owns 677,088 shares of the company’s stock worth $21,883,000 after purchasing an additional 25,000 shares during the period. Vanguard Group Inc. increased its holdings in Onity Group by 1.0% during the third quarter. Vanguard Group Inc. now owns 339,620 shares of the company’s stock worth $13,571,000 after buying an additional 3,473 shares during the last quarter. Prescott Group Capital Management L.L.C. raised its position in Onity Group by 7.9% in the first quarter. Prescott Group Capital Management L.L.C. now owns 164,593 shares of the company’s stock worth $5,320,000 after acquiring an additional 12,000 shares during the period. Geode Capital Management LLC boosted its stake in Onity Group by 6.3% in the second quarter. Geode Capital Management LLC now owns 148,257 shares of the company’s stock valued at $5,660,000 after acquiring an additional 8,748 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Onity Group by 585.2% in the second quarter. JPMorgan Chase & Co. now owns 128,210 shares of the company’s stock valued at $4,894,000 after acquiring an additional 109,498 shares during the last quarter. Institutional investors own 70.16% of the company’s stock.

Onity Group Company Profile

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.