Nuveen LLC Invests $443,000 in Onity Group Inc. $ONIT

Key Points

• Nuveen LLC purchased 13,717 shares of Onity Group Inc. for approximately $443,000, taking its total ownership to about 0.17% of the company.
• Onity Group's stock received mixed ratings from analysts; while some analysts have a "buy" rating, others downgraded it to "hold" or "strong sell".
• The company's stock has seen a price range in the past 12 months from a low of $25.50 to a high of $43.00, with a current price at $42.53.

Nuveen LLC purchased a new stake in Onity Group Inc. (NYSE:ONIT - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 13,717 shares of the company's stock, valued at approximately $443,000. Nuveen LLC owned 0.17% of Onity Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ONIT. Public Employees Retirement System of Ohio acquired a new stake in shares of Onity Group in the fourth quarter valued at $84,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Onity Group in the 4th quarter valued at about $115,000. Wells Fargo & Company MN bought a new position in shares of Onity Group in the fourth quarter worth about $116,000. MetLife Investment Management LLC acquired a new position in shares of Onity Group during the fourth quarter worth approximately $117,000. Finally, GAMMA Investing LLC grew its stake in shares of Onity Group by 7,724.6% during the first quarter. GAMMA Investing LLC now owns 4,460 shares of the company's stock valued at $138,000 after purchasing an additional 4,403 shares during the last quarter. 70.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ONIT has been the subject of several research analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Onity Group from $50.00 to $55.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. B. Riley lifted their target price on Onity Group from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Zacks Research cut Onity Group from a "hold" rating to a "strong sell" rating in a report on Thursday, August 21st. Finally, Wall Street Zen raised shares of Onity Group from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $50.00.

Onity Group Trading Up 0.6%

Onity Group stock traded up $0.28 during midday trading on Wednesday, hitting $43.77. 57,329 shares of the stock were exchanged, compared to its average volume of 48,158. The stock has a market capitalization of $352.75 million, a PE ratio of 11.16 and a beta of 1.44. The company has a fifty day simple moving average of $39.56 and a two-hundred day simple moving average of $36.02. The company has a quick ratio of 37.90, a current ratio of 37.90 and a debt-to-equity ratio of 23.99. Onity Group Inc. has a 52 week low of $25.50 and a 52 week high of $45.50.

Onity Group (NYSE:ONIT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.87 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.21). The firm had revenue of $246.60 million during the quarter, compared to the consensus estimate of $252.90 million. Onity Group had a net margin of 3.74% and a return on equity of 18.99%. Equities research analysts anticipate that Onity Group Inc. will post 10.51 EPS for the current fiscal 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.