Dimensional Fund Advisors LP Invests $12.18 Million in Onity Group (NYSE:ONIT)

Dimensional Fund Advisors LP purchased a new stake in shares of Onity Group (NYSE:ONIT - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 396,558 shares of the company's stock, valued at approximately $12,178,000. Dimensional Fund Advisors LP owned approximately 5.04% of Onity Group at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ONIT. Corebridge Financial Inc. purchased a new stake in shares of Onity Group in the 4th quarter valued at $98,000. New York State Common Retirement Fund purchased a new stake in Onity Group during the fourth quarter valued at about $100,000. Wells Fargo & Company MN purchased a new position in shares of Onity Group in the fourth quarter worth about $116,000. SBI Securities Co. Ltd. bought a new stake in shares of Onity Group in the 4th quarter valued at about $224,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Onity Group during the fourth quarter valued at approximately $226,000. 70.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Onity Group Stock Up 2.1%

ONIT traded up $0.79 during trading on Monday, reaching $38.63. The stock had a trading volume of 52,701 shares, compared to its average volume of 36,158. The company has a current ratio of 26.46, a quick ratio of 26.46 and a debt-to-equity ratio of 20.28. The company has a market capitalization of $309.36 million, a price-to-earnings ratio of 9.44 and a beta of 1.89. The stock's 50 day moving average is $31.82 and its two-hundred day moving average is $32.23. Onity Group has a one year low of $22.40 and a one year high of $41.27.

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

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.