B. Riley Raises Onity Group (NYSE:ONIT) Price Target to $55.00

Onity Group (NYSE:ONIT - Get Free Report) had its price target lifted by investment analysts at B. Riley from $50.00 to $55.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. B. Riley's price target would suggest a potential upside of 46.65% from the company's current price.

Other analysts have also issued research reports about the company. Keefe, Bruyette & Woods lifted their target price on Onity Group from $45.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. BTIG Research reiterated a "buy" rating on shares of Onity Group in a research note on Monday, May 5th.

Onity Group Stock Up 0.3%

Shares of ONIT traded up $0.11 on Friday, reaching $37.51. The stock had a trading volume of 17,249 shares, compared to its average volume of 46,809. Onity Group has a 12-month low of $22.40 and a 12-month high of $41.27. The firm has a market capitalization of $300.42 million, a price-to-earnings ratio of 13.16 and a beta of 1.66. The company has a debt-to-equity ratio of 25.88, a quick ratio of 33.57 and a current ratio of 33.57. The company has a 50-day simple moving average of $35.93 and a 200-day simple moving average of $33.64.

Onity Group (NYSE:ONIT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $2.84 EPS for the quarter, topping 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 return on equity of 22.67% and a net margin of 2.62%. Sell-side analysts predict that Onity Group will post 10.51 EPS for the current year.

Hedge Funds Weigh In On Onity Group

Institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC grew its holdings in Onity Group by 206.5% during the 1st quarter. Acadian Asset Management LLC now owns 41,823 shares of the company's stock valued at $1,351,000 after buying an additional 28,178 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Onity Group during the 1st quarter worth approximately $256,000. Empowered Funds LLC grew its stake in Onity Group by 7.1% in the 1st quarter. Empowered Funds LLC now owns 48,029 shares of the company's stock worth $1,552,000 after acquiring an additional 3,184 shares in the last quarter. Long Focus Capital Management LLC raised its position in Onity Group by 3.8% during the 1st quarter. Long Focus Capital Management LLC now owns 677,088 shares of the company's stock valued at $21,883,000 after purchasing an additional 25,000 shares in the last quarter. Finally, Corsair Capital Management L.P. bought a new position in Onity Group during the 1st quarter worth about $162,000. 70.16% of the stock is owned by hedge funds and other institutional investors.

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.

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