Onity Group (NYSE:ONIT) Price Target Raised to $55.00

Onity Group (NYSE:ONIT - Free Report) had its price target increased by B. Riley from $50.00 to $55.00 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

ONIT has been the topic of several other research reports. BTIG Research reaffirmed a "buy" rating on shares of Onity Group in a research note on Monday, May 5th. Keefe, Bruyette & Woods raised their target price on Onity Group from $45.00 to $50.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th.

Onity Group Trading Up 0.4%

Shares of NYSE ONIT traded up $0.14 during midday trading on Friday, hitting $37.58. The stock had a trading volume of 38,628 shares, compared to its average volume of 37,551. The company has a quick ratio of 33.57, a current ratio of 33.57 and a debt-to-equity ratio of 25.88. Onity Group has a 1-year low of $22.40 and a 1-year high of $41.27. The company has a market capitalization of $300.98 million, a price-to-earnings ratio of 13.19 and a beta of 1.66. The company has a fifty day moving average price of $36.12 and a 200 day moving average price of $33.71.

Onity Group (NYSE:ONIT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $1.79 by $1.05. The firm had revenue of $249.80 million for the quarter, compared to analysts' expectations of $244.63 million. Onity Group had a net margin of 2.62% and a return on equity of 22.67%. On average, analysts predict that Onity Group will post 10.51 earnings per share for the current year.

Institutional Trading of Onity Group

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

About Onity Group

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.