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

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

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

Onity Group Stock Performance

Shares of NYSE ONIT opened at $38.30 on Friday. The company has a market capitalization of $308.51 million, a PE ratio of 9.77 and a beta of 1.53. The company has a debt-to-equity ratio of 23.99, a quick ratio of 37.90 and a current ratio of 37.90. The company’s fifty day moving average price is $39.80 and its 200 day moving average price is $38.69. Onity Group has a 1 year low of $25.50 and a 1 year high of $45.83.

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

Institutional Investors Weigh In On Onity Group

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in Onity Group by 585.2% in the 2nd 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. Russell Investments Group Ltd. grew its position in shares of Onity Group by 9,153.4% in the first quarter. Russell Investments Group Ltd. now owns 57,371 shares of the company’s stock valued at $1,854,000 after purchasing an additional 56,751 shares in the last quarter. American Century Companies Inc. grew its position in shares of 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 in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Onity Group by 206.5% in the first quarter. Acadian Asset Management LLC now owns 41,823 shares of the company’s stock valued at $1,351,000 after purchasing an additional 28,178 shares during the last quarter. Finally, Long Focus Capital Management LLC lifted its position in Onity Group by 3.8% during the first quarter. Long Focus Capital Management LLC now owns 677,088 shares of the company’s stock worth $21,883,000 after buying an additional 25,000 shares in the last quarter. Hedge funds and other 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.