Millennium Management LLC Takes $431,000 Position in Onity Group (NYSE:ONIT)

Millennium Management LLC purchased a new stake in shares of Onity Group (NYSE:ONIT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,042 shares of the company's stock, valued at approximately $431,000. Millennium Management LLC owned 0.18% of Onity Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of ONIT. Corebridge Financial Inc. purchased a new position in shares of Onity Group in the fourth quarter worth approximately $98,000. New York State Common Retirement Fund acquired a new stake in shares of Onity Group in the 4th quarter valued at $100,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Onity Group during the 4th quarter worth about $115,000. Wells Fargo & Company MN bought a new position in shares of Onity Group in the fourth quarter valued at approximately $116,000. Finally, MetLife Investment Management LLC acquired a new position in Onity Group during the 4th quarter worth $117,000. Institutional investors own 70.16% of the company's stock.

Onity Group Stock Down 2.5%

Shares of ONIT traded down $0.95 on Friday, hitting $37.85. The company's stock had a trading volume of 30,943 shares, compared to its average volume of 36,854. Onity Group has a fifty-two week low of $22.40 and a fifty-two week high of $41.27. The company has a quick ratio of 26.46, a current ratio of 26.46 and a debt-to-equity ratio of 20.28. The firm's fifty day moving average price is $35.11 and its 200-day moving average price is $33.43. The firm has a market capitalization of $303.13 million, a price-to-earnings ratio of 9.25 and a beta of 1.66.

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

Wall Street Analysts Forecast Growth

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

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.