Corsair Capital Management L.P. Trims Stock Holdings in Onity Group Inc. $ONIT

Corsair Capital Management L.P. lowered its stake in Onity Group Inc. (NYSE:ONIT) by 55.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,003 shares of the company’s stock after selling 15,000 shares during the quarter. Corsair Capital Management L.P. owned about 0.14% of Onity Group worth $471,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ONIT. CWM LLC grew its stake in shares of Onity Group by 60.3% during the 4th quarter. CWM LLC now owns 758 shares of the company’s stock valued at $35,000 after acquiring an additional 285 shares during the period. State of Wyoming bought a new stake in Onity Group during the 2nd quarter worth approximately $119,000. BNP Paribas Financial Markets lifted its holdings in Onity Group by 367.2% during the second quarter. BNP Paribas Financial Markets now owns 3,163 shares of the company’s stock valued at $121,000 after purchasing an additional 2,486 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Onity Group during the second quarter valued at approximately $184,000. Finally, Bank of America Corp DE boosted its position in shares of Onity Group by 23.2% in the third quarter. Bank of America Corp DE now owns 5,027 shares of the company’s stock worth $201,000 after purchasing an additional 945 shares during the period. Institutional investors own 70.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. BTIG Research reduced their price objective on shares of Onity Group from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. Wall Street Zen upgraded shares of Onity Group from a “strong sell” rating to a “sell” rating in a research note on Saturday. Texas Capital raised shares of Onity Group to a “strong-buy” rating in a report on Wednesday, June 10th. Keefe, Bruyette & Woods cut their price target on 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, Weiss Ratings lowered Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Onity Group Trading Down 0.1%

ONIT stock opened at $39.41 on Monday. Onity Group Inc. has a 1-year low of $33.22 and a 1-year high of $54.10. The company has a debt-to-equity ratio of 19.46, a current ratio of 46.07 and a quick ratio of 46.07. The company has a market capitalization of $332.27 million, a price-to-earnings ratio of 2.03 and a beta of 1.43. The business has a 50 day simple moving average of $37.33 and a two-hundred day simple moving average of $41.11.

Onity Group (NYSE:ONIT) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $290.10 million.

Onity Group 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.