Bridgeway Capital Management LLC Makes New $3.30 Million Investment in Onity Group (NYSE:ONIT)

Bridgeway Capital Management LLC acquired a new stake in shares of Onity Group (NYSE:ONIT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Bank of America Corp DE purchased a new stake in shares of Onity Group in the fourth quarter worth about $294,000. BNP Paribas Financial Markets acquired a new stake in shares of Onity Group during the 4th quarter worth approximately $384,000. Ameriprise Financial Inc. purchased a new position in shares of Onity Group during the 4th quarter valued at approximately $209,000. Northern Trust Corp acquired a new position in shares of Onity Group in the 4th quarter valued at $1,577,000. Finally, RBF Capital LLC acquired a new position in shares of Onity Group in the 4th quarter valued at $3,973,000. Institutional investors and hedge funds own 70.16% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ONIT shares. Keefe, Bruyette & Woods lifted their price objective on shares of Onity Group from $45.00 to $50.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. BTIG Research reissued a "buy" rating on shares of Onity Group in a research note on Monday, May 5th.

Onity Group Stock Up 2.1%

Shares of ONIT stock traded up $0.79 on Monday, reaching $38.63. 52,701 shares of the stock were exchanged, compared to its average volume of 36,158. The business's 50 day moving average price is $31.82 and its 200 day moving average price is $32.23. The company has a market capitalization of $309.36 million, a price-to-earnings ratio of 9.44 and a beta of 1.89. Onity Group has a twelve month low of $22.40 and a twelve month high of $41.27. The company has a current ratio of 26.46, a quick ratio of 26.46 and a debt-to-equity ratio of 20.28.

Onity Group (NYSE:ONIT - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.79 by $1.05. Onity Group had a return on equity of 20.50% and a net margin of 3.47%. The business had revenue of $249.80 million for the quarter, compared to analyst estimates of $244.63 million. As a group, sell-side analysts expect that Onity Group will post 10.51 earnings per share for the current fiscal year.

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.