Onity Group (NYSE:ONIT) Upgraded at Wall Street Zen

by · The Markets Daily

Wall 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.

Several other research analysts have also weighed in on ONIT. BTIG Research dropped their price objective on Onity Group from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. Weiss Ratings lowered Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Keefe, Bruyette & Woods decreased their target price 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, Texas Capital upgraded Onity Group to a “strong-buy” rating in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Onity Group presently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

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Onity Group Price Performance

Shares of NYSE ONIT opened at $40.02 on Friday. The company has a market capitalization of $337.49 million, a PE ratio of 2.06 and a beta of 1.43. The company has a quick ratio of 46.07, a current ratio of 46.07 and a debt-to-equity ratio of 19.46. Onity Group has a twelve month low of $33.22 and a twelve month high of $54.10. The firm has a fifty day simple moving average of $37.42 and a 200 day simple moving average of $41.07.

Onity Group (NYSE:ONIT – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.74 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 firm had revenue of $278.00 million for the quarter, compared to the consensus estimate of $290.10 million.

Institutional Investors Weigh In On Onity Group

A number of large investors have recently bought and sold shares of ONIT. Dimensional Fund Advisors LP raised its holdings in shares of 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 period. Oaktree Capital Management LP acquired a new stake in shares of Onity Group in the 4th quarter valued at about $17,896,000. Vanguard Group Inc. grew its stake in shares of Onity Group by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 339,620 shares of the company’s stock valued at $13,571,000 after buying an additional 3,473 shares during the period. Wellington Management Group LLP grew its stake in shares of Onity Group by 18.3% in the 4th quarter. Wellington Management Group LLP now owns 307,000 shares of the company’s stock valued at $14,058,000 after buying an additional 47,500 shares during the period. Finally, Prescott Group Capital Management L.L.C. increased its position in Onity Group by 29.2% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 212,585 shares of the company’s stock valued at $9,734,000 after buying an additional 47,992 shares in the last quarter. 70.16% of the stock is currently owned by institutional investors and hedge funds.

About Onity Group

(Get Free Report)

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.

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