Onity Group (NYSE:ONIT) Sees Significant Growth in Short Interest

by · The Markets Daily

Onity Group (NYSE:ONIT – Get Free Report) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 108,300 shares, a growth of 35.4% from the February 13th total of 80,000 shares. Based on an average daily volume of 47,300 shares, the short-interest ratio is presently 2.3 days. Approximately 1.7% of the shares of the stock are sold short.

Hedge Funds Weigh In On Onity Group

Several hedge funds have recently bought and sold shares of ONIT. Public Employees Retirement System of Ohio acquired a new stake in shares of Onity Group in the fourth quarter valued at about $84,000. Corebridge Financial Inc. acquired a new stake in shares of Onity Group during the fourth quarter worth approximately $98,000. New York State Common Retirement Fund acquired a new position in Onity Group in the fourth quarter worth $100,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Onity Group during the 4th quarter worth about $115,000. Finally, Wells Fargo & Company MN bought a new stake in shares of Onity Group during the fourth quarter valued at approximately $116,000. 70.16% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on ONIT shares. BTIG Research raised Onity Group from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Monday, December 9th. B. Riley upgraded shares of Onity Group to a “strong-buy” rating in a research report on Tuesday, January 7th.

Get Our Latest Report on ONIT

Onity Group Stock Up 2.3 %

Shares of ONIT stock traded up $0.67 on Friday, reaching $30.27. 35,792 shares of the company’s stock traded hands, compared to its average volume of 47,749. The business’s 50 day moving average price is $33.45 and its two-hundred day moving average price is $31.49. The company has a debt-to-equity ratio of 20.28, a quick ratio of 26.46 and a current ratio of 26.46. The company has a market capitalization of $238.32 million, a P/E ratio of 7.40 and a beta of 1.98. Onity Group has a 12-month low of $22.40 and a 12-month high of $41.27.

Onity Group (NYSE:ONIT – Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $1.39 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.95). The firm had revenue of $224.80 million during the quarter, compared to analyst estimates of $253.37 million. Onity Group had a return on equity of 20.50% and a net margin of 3.47%. On average, equities analysts forecast that Onity Group will post 10.51 earnings per share for the current year.

Onity Group Company Profile

(Get Free Report)

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.

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