Onity Group (NYSE:ONIT) Upgraded at Wall Street Zen
by Michael Walen · The Markets DailyWall Street Zen upgraded shares of Onity Group (NYSE:ONIT – Free Report) from a strong sell rating to a sell rating in a research report released on Saturday,Wall Street Zen reports.
A number of other research firms also recently issued reports on ONIT. Weiss Ratings downgraded shares of Onity Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, September 18th. Keefe, Bruyette & Woods cut their price objective on shares of Onity Group from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 12th. Finally, BTIG Research reduced their target price on shares of Onity Group from $50.00 to $45.00 and set a “buy” rating for the company in a report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.00.
Check Out Our Latest Analysis on ONIT
Onity Group Stock Up 0.2%
Shares of Onity Group stock opened at $25.64 on Friday. The business’s 50 day simple moving average is $32.43 and its 200 day simple moving average is $36.73. Onity Group has a 52-week low of $24.86 and a 52-week high of $54.10. The firm has a market cap of $214.08 million, a PE ratio of 4.80 and a beta of 1.49. The company has a debt-to-equity ratio of 11.41, a quick ratio of 16.60 and a current ratio of 16.60.
Onity Group (NYSE:ONIT – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($1.53) EPS for the quarter, missing the consensus estimate of $0.95 by ($2.48). Onity Group had a net margin of 12.34% and a return on equity of 8.27%. The firm had revenue of $281.00 million during the quarter, compared to the consensus estimate of $272.45 million.
Institutional Trading of Onity Group
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in Onity Group by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 464,448 shares of the company’s stock valued at $18,238,000 after purchasing an additional 25,390 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Onity Group in the second quarter valued at approximately $1,062,000. First Trust Advisors LP grew its stake in Onity Group by 6.4% in the first quarter. First Trust Advisors LP now owns 21,408 shares of the company’s stock valued at $841,000 after purchasing an additional 1,280 shares in the last quarter. Gratia Capital LLC acquired a new position in shares of Onity Group during the 2nd quarter worth approximately $835,000. Finally, Bank of America Corp DE increased its position in shares of Onity Group by 120.4% during the 1st quarter. Bank of America Corp DE now owns 16,734 shares of the company’s stock worth $657,000 after purchasing an additional 9,142 shares during the last quarter. Institutional investors and hedge funds own 70.16% of the company’s stock.
About Onity Group
Onity Group Inc (NYSE: ONIT), formerly known as Ocwen Financial Corporation, is a financial services company focused primarily on residential mortgage servicing. Through its operating businesses, the company provides loan servicing and subservicing, including payment processing, borrower support, loss mitigation and other functions that help manage mortgage loans on behalf of loan owners and investors.
Onity also provides mortgage origination services through PHH Mortgage, serving borrowers who are purchasing or refinancing homes.