Jacobs Levy Equity Management Inc. Makes New Investment in Onity Group (NYSE:ONIT)

Jacobs Levy Equity Management Inc. bought a new stake in Onity Group (NYSE:ONIT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 19,621 shares of the company's stock, valued at approximately $603,000. Jacobs Levy Equity Management Inc. owned 0.25% of Onity Group at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Onity Group in the fourth quarter valued at approximately $886,000. JPMorgan Chase & Co. increased its holdings in shares of Onity Group by 181.5% in the third quarter. JPMorgan Chase & Co. now owns 17,255 shares of the company's stock valued at $551,000 after purchasing an additional 11,126 shares during the period. Oaktree Capital Management LP acquired a new position in shares of Onity Group in the fourth quarter valued at approximately $12,604,000. Barclays PLC purchased a new stake in shares of Onity Group in the fourth quarter valued at approximately $310,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of Onity Group in the fourth quarter valued at approximately $483,000. Institutional investors and hedge funds own 70.16% of the company's stock.

Onity Group Price Performance

Shares of Onity Group stock traded down $0.83 during trading on Friday, reaching $36.06. The company's stock had a trading volume of 64,506 shares, compared to its average volume of 36,456. The company has a quick ratio of 26.46, a current ratio of 26.46 and a debt-to-equity ratio of 20.28. Onity Group has a 12-month low of $22.40 and a 12-month high of $41.27. The company has a market capitalization of $288.77 million, a P/E ratio of 8.82 and a beta of 1.89. The business has a 50 day moving average price of $33.41 and a 200-day moving average price of $32.76.

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

Wall Street Analysts Forecast Growth

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

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.