American Century Companies Inc. Has $2.43 Million Stake in Onity Group Inc. $ONIT

Key Points

• American Century Companies Inc. increased its ownership in Onity Group Inc. by 139.9% in the first quarter, now holding 0.94% of the company’s stock worth approximately $2.425 million.
• Onity Group reported earnings per share of $1.87 for the last quarter, missing estimates by $0.21, while revenue was also below expectations at $246.60 million.
• Analysts have mixed ratings on Onity Group; while B. Riley and Keefe, Bruyette & Woods upgraded the stock to a "buy," Zacks Research downgraded it to a "strong sell."

American Century Companies Inc. grew its position in shares of Onity Group Inc. (NYSE:ONIT - Free Report) by 139.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,025 shares of the company's stock after buying an additional 43,755 shares during the quarter. American Century Companies Inc. owned approximately 0.94% of Onity Group worth $2,425,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new position in shares of Onity Group during the fourth quarter worth approximately $84,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Onity Group during the fourth quarter worth approximately $115,000. Wells Fargo & Company MN acquired a new position in shares of Onity Group during the fourth quarter worth approximately $116,000. MetLife Investment Management LLC acquired a new position in shares of Onity Group during the fourth quarter worth approximately $117,000. Finally, GAMMA Investing LLC lifted its position in shares of Onity Group by 7,724.6% during the first quarter. GAMMA Investing LLC now owns 4,460 shares of the company's stock worth $138,000 after purchasing an additional 4,403 shares in the last quarter. 70.16% of the stock is owned by institutional investors.

Onity Group Stock Up 1.2%

Onity Group stock traded up $0.51 during mid-day trading on Thursday, reaching $42.57. The company's stock had a trading volume of 10,911 shares, compared to its average volume of 47,519. The company has a market capitalization of $343.15 million, a price-to-earnings ratio of 10.85 and a beta of 1.44. Onity Group Inc. has a 12 month low of $25.50 and a 12 month high of $43.00. The business's 50 day simple moving average is $39.05 and its 200 day simple moving average is $35.69. The company has a debt-to-equity ratio of 23.99, a quick ratio of 37.90 and a current ratio of 37.90.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on ONIT. Wall Street Zen lowered shares of Onity Group from a "buy" rating to a "hold" rating in a research report on Sunday, August 17th. Zacks Research lowered shares of Onity Group from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 21st. B. Riley upped their target price on shares of Onity Group from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Onity Group from $50.00 to $55.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average 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.