Nuveen LLC Purchases New Stake 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 acquired a new position in shares of Onity Group Inc. (NYSE:ONIT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,717 shares of the company's stock, valued at approximately $443,000. Nuveen LLC owned 0.17% of Onity Group as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP acquired a new stake in shares of Onity Group during the 4th quarter worth approximately $12,178,000. Prescott Group Capital Management L.L.C. grew its position in shares of Onity Group by 7.9% during the 1st quarter. Prescott Group Capital Management L.L.C. now owns 164,593 shares of the company's stock worth $5,320,000 after buying an additional 12,000 shares during the period. Bridgeway Capital Management LLC acquired a new stake in shares of Onity Group during the 4th quarter worth approximately $3,298,000. Segall Bryant & Hamill LLC grew its position in shares of Onity Group by 42.1% during the 1st quarter. Segall Bryant & Hamill LLC now owns 60,420 shares of the company's stock worth $1,953,000 after buying an additional 17,900 shares during the period. Finally, Northern Trust Corp acquired a new stake in shares of Onity Group during the 4th quarter worth approximately $1,577,000. Institutional investors and hedge funds own 70.16% of the company's stock.

Onity Group Stock Down 0.6%

NYSE:ONIT traded down $0.27 during trading hours on Friday, hitting $42.34. 53,029 shares of the company traded hands, compared to its average volume of 49,191. The company has a quick ratio of 37.90, a current ratio of 37.90 and a debt-to-equity ratio of 23.99. The firm's 50-day simple moving average is $39.25 and its 200-day simple moving average is $35.84. Onity Group Inc. has a one year low of $25.50 and a one year high of $43.26. The company has a market cap of $341.06 million, a PE ratio of 10.80 and a beta of 1.44.

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

Analysts Set New Price Targets

ONIT has been the topic of a number of recent research reports. B. Riley increased their target price on Onity Group from $50.00 to $55.00 and gave the stock a "buy" rating in a report 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. Keefe, Bruyette & Woods increased their target price on Onity Group from $50.00 to $55.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen upgraded Onity Group from a "hold" rating to a "buy" rating in a report on Friday. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.00.

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.