Bridgeway Capital Management LLC Acquires New Holdings in Onity Group (NYSE:ONIT)

Bridgeway Capital Management LLC bought a new position in shares of Onity Group (NYSE:ONIT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 107,376 shares of the company's stock, valued at approximately $3,298,000. Bridgeway Capital Management LLC owned approximately 1.36% of Onity Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in ONIT. Long Focus Capital Management LLC acquired a new stake in Onity Group in the fourth quarter worth $20,026,000. Oaktree Capital Management LP bought a new position in shares of Onity Group in the 4th quarter valued at about $12,604,000. Dimensional Fund Advisors LP bought a new stake in Onity Group in the 4th quarter valued at $12,178,000. Prescott Group Capital Management L.L.C. bought a new stake in shares of Onity Group during the 4th quarter worth about $4,686,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Onity Group during the 4th quarter worth $4,163,000. Hedge funds and other institutional investors own 70.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ONIT shares. BTIG Research reiterated a "buy" rating on shares of Onity Group in a research report on Monday, May 5th. Keefe, Bruyette & Woods upped their price objective on shares of Onity Group from $45.00 to $50.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th.

Onity Group Trading Down 0.8%

NYSE ONIT traded down $0.30 on Wednesday, hitting $38.20. The company's stock had a trading volume of 21,370 shares, compared to its average volume of 36,106. The company has a quick ratio of 26.46, a current ratio of 26.46 and a debt-to-equity ratio of 20.28. Onity Group has a 1-year low of $22.40 and a 1-year high of $41.27. The company's 50-day moving average is $32.15 and its 200 day moving average is $32.34. The firm has a market cap of $305.94 million, a PE ratio of 9.34 and a beta of 1.89.

Onity Group (NYSE:ONIT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $1.79 by $1.05. The company had revenue of $249.80 million during the quarter, compared to analysts' expectations of $244.63 million. Onity Group had a net margin of 3.47% and a return on equity of 20.50%. As a group, analysts predict that Onity Group will post 10.51 earnings per share for the current fiscal year.

Onity Group 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.