Millennium Management LLC Purchases New Shares in Onity Group (NYSE:ONIT)

Millennium Management LLC 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 and Exchange Commission (SEC). The institutional investor bought 14,042 shares of the company's stock, valued at approximately $431,000. Millennium Management LLC owned about 0.18% of Onity Group as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Onity Group in the 4th quarter valued at $886,000. Northern Trust Corp bought a new stake in Onity Group in the fourth quarter worth $1,577,000. Oaktree Capital Management LP purchased a new stake in Onity Group during the fourth quarter valued at about $12,604,000. Barclays PLC purchased a new stake in Onity Group during the fourth quarter valued at about $310,000. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Onity Group during the fourth quarter valued at about $483,000. Institutional investors own 70.16% of the company's stock.

Onity Group Trading Up 1.5%

Onity Group stock traded up $0.57 during trading hours on Tuesday, reaching $37.84. The stock had a trading volume of 48,117 shares, compared to its average volume of 36,631. The stock has a market cap of $303.04 million, a PE ratio of 9.25 and a beta of 1.66. Onity Group has a 52 week low of $22.40 and a 52 week high of $41.27. The company has a debt-to-equity ratio of 20.28, a current ratio of 26.46 and a quick ratio of 26.46. The company has a fifty day simple moving average of $34.47 and a 200-day simple moving average of $33.30.

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

Analyst Ratings Changes

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

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.