Deer Park Road Corp Acquires New Position in Onity Group (NYSE:ONIT)

Deer Park Road Corp bought a new position in Onity Group (NYSE:ONIT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 311,316 shares of the company's stock, valued at approximately $9,561,000. Onity Group comprises about 1.6% of Deer Park Road Corp's investment portfolio, making the stock its biggest holding. Deer Park Road Corp owned about 3.96% of Onity Group at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Corebridge Financial Inc. acquired a new position in shares of Onity Group in the 4th quarter valued at $98,000. New York State Common Retirement Fund acquired a new stake in shares of Onity Group in the fourth quarter valued at approximately $100,000. Wells Fargo & Company MN purchased a new position in Onity Group in the fourth quarter worth approximately $116,000. MetLife Investment Management LLC acquired a new position in Onity Group during the 4th quarter worth about $117,000. Finally, Ameriprise Financial Inc. acquired a new position in shares of Onity Group during the fourth quarter worth about $209,000. Institutional investors own 70.16% of the company's stock.

Onity Group Stock Performance

Shares of NYSE:ONIT traded up $0.97 during midday trading on Monday, hitting $38.81. The company's stock had a trading volume of 17,718 shares, compared to its average volume of 36,020. Onity Group has a fifty-two week low of $22.40 and a fifty-two week high of $41.27. The stock's 50 day simple moving average is $31.82 and its 200 day simple moving average is $32.23. The stock has a market capitalization of $310.79 million, a price-to-earnings ratio of 9.48 and a beta of 1.89. The company has a debt-to-equity ratio of 20.28, a quick ratio of 26.46 and a current ratio of 26.46.

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

Analyst Upgrades and Downgrades

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

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.