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

Onity Group (NYSE:ONIT) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

A number of other research firms have also recently commented on ONIT. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Onity Group in a research note on Thursday, December 18th. Weiss Ratings restated a “hold (c)” rating on shares of Onity Group in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $57.50.

Onity Group Stock Up 1.1%

NYSE:ONIT opened at $44.24 on Friday. Onity Group has a fifty-two week low of $25.50 and a fifty-two week high of $45.83. The stock has a market capitalization of $356.57 million, a P/E ratio of 13.41 and a beta of 1.63. The company has a debt-to-equity ratio of 22.41, a quick ratio of 38.90 and a current ratio of 38.90. The company’s 50-day simple moving average is $41.95 and its 200-day simple moving average is $40.26.

Onity Group (NYSE:ONIT) last posted its quarterly earnings data on Thursday, November 6th. The company reported $3.44 EPS for the quarter, topping the consensus estimate of $1.92 by $1.52. The firm had revenue of $265.00 million during the quarter, compared to analyst estimates of $257.77 million. Onity Group had a net margin of 3.41% and a return on equity of 17.81%. On average, equities analysts anticipate that Onity Group will post 10.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Onity Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Cullen Frost Bankers Inc. boosted its position in Onity Group by 169.9% in the second quarter. Cullen Frost Bankers Inc. now owns 988 shares of the company’s stock valued at $38,000 after buying an additional 622 shares during the last quarter. Bank of America Corp DE lifted its stake in Onity Group by 23.2% during the 3rd quarter. Bank of America Corp DE now owns 5,027 shares of the company’s stock valued at $201,000 after acquiring an additional 945 shares during the period. Ameriprise Financial Inc. lifted its stake in Onity Group by 9.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 12,147 shares of the company’s stock valued at $464,000 after acquiring an additional 1,061 shares during the period. AlphaQuest LLC purchased a new stake in shares of Onity Group in the 3rd quarter valued at $77,000. Finally, Ritholtz Wealth Management increased its stake in shares of Onity Group by 29.1% in the third quarter. Ritholtz Wealth Management now owns 9,862 shares of the company’s stock worth $394,000 after acquiring an additional 2,224 shares during the period. Institutional investors and hedge funds 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.