Onity Group Inc. $ONIT Holdings Boosted by Long Focus Capital Management LLC

Key Points

• Long Focus Capital Management LLC increased its holdings in Onity Group Inc. by 3.8%, owning approximately 8.45% of the company, valued at about $21.88 million.
• Onity Group's stock has a consensus rating of "Moderate Buy" with an average price target of $50.00 despite recent downgrades from analysts like Zacks Research.
• Shares of Onity Group currently trade at $41.41, having a 12-month range between $25.50 and $43.00, and reported a missed earnings estimate of $1.87 EPS against the expected $2.08.

Long Focus Capital Management LLC boosted its holdings in Onity Group Inc. (NYSE:ONIT - Free Report) by 3.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 677,088 shares of the company's stock after acquiring an additional 25,000 shares during the period. Long Focus Capital Management LLC owned about 8.45% of Onity Group worth $21,883,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new position in Onity Group in the fourth quarter worth about $84,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Onity Group in the fourth quarter worth about $115,000. Wells Fargo & Company MN bought a new position in Onity Group in the fourth quarter worth about $116,000. MetLife Investment Management LLC bought a new position in Onity Group in the fourth quarter worth about $117,000. Finally, GAMMA Investing LLC lifted its holdings in Onity Group by 7,724.6% in the first quarter. GAMMA Investing LLC now owns 4,460 shares of the company's stock worth $138,000 after acquiring an additional 4,403 shares during the last quarter. Institutional investors own 70.16% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ONIT. BTIG Research reissued a "buy" rating on shares of Onity Group in a report on Monday, May 5th. Zacks Research cut Onity Group from a "hold" rating to a "strong sell" rating in a report on Thursday, August 21st. Wall Street Zen cut Onity Group from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. Keefe, Bruyette & Woods lifted their price target on Onity Group from $50.00 to $55.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Finally, B. Riley lifted their price target on Onity Group from $50.00 to $55.00 and gave the company a "buy" rating in a report on Friday, June 20th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Onity Group has a consensus rating of "Moderate Buy" and an average price target of $50.00.

Onity Group Price Performance

Shares of NYSE:ONIT opened at $41.41 on Friday. Onity Group Inc. has a 12 month low of $25.50 and a 12 month high of $43.00. The stock has a market cap of $333.72 million, a price-to-earnings ratio of 10.56 and a beta of 1.41. The stock's 50 day moving average price is $38.78 and its 200 day moving average price is $35.59. The company has a debt-to-equity ratio of 23.99, a current ratio of 37.90 and a quick ratio of 37.90.

Onity Group (NYSE:ONIT - Get Free Report) last announced 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). Onity Group had a return on equity of 18.99% and a net margin of 3.74%.The firm had revenue of $246.60 million for the quarter, compared to the consensus estimate of $252.90 million. Equities research analysts anticipate that Onity Group Inc. will post 10.51 earnings per share 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.

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