Onity Group Inc. $ONIT Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Onity Group Inc. by 52.2%, currently holding approximately 0.13% of the company valued at $340,000.
• The company reported $1.87 EPS for the last quarter, missing analysts' expectations of $2.08 EPS, with revenues also falling short of forecasts at $246.60 million.
• Analysts have mixed views on the stock, with a consensus rating of "Moderate Buy" and varying price targets ranging from $50.00 to $55.00.

Goldman Sachs Group Inc. reduced its position in Onity Group Inc. (NYSE:ONIT - Free Report) by 52.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,511 shares of the company's stock after selling 11,457 shares during the period. Goldman Sachs Group Inc. owned approximately 0.13% of Onity Group worth $340,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in shares of Onity Group in the 4th quarter worth approximately $84,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Onity Group during the fourth quarter worth $115,000. GAMMA Investing LLC grew its holdings in Onity Group by 7,724.6% during the 1st 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 period. Corsair Capital Management L.P. purchased a new position in shares of Onity Group in the 1st quarter worth approximately $162,000. Finally, Ameriprise Financial Inc. bought a new stake in Onity Group during the 4th quarter valued at $209,000. Institutional investors and hedge funds own 70.16% of the company's stock.

Onity Group Trading Up 0.5%

NYSE ONIT opened at $40.83 on Friday. The company has a quick ratio of 37.90, a current ratio of 37.90 and a debt-to-equity ratio of 23.99. The stock's 50-day simple moving average is $40.79 and its two-hundred day simple moving average is $37.05. Onity Group Inc. has a twelve month low of $25.50 and a twelve month high of $45.83. The company has a market capitalization of $328.89 million, a price-to-earnings ratio of 10.42 and a beta of 1.44.

Onity Group (NYSE:ONIT - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.87 EPS for the quarter, missing analysts' consensus estimates of $2.08 by ($0.21). The company had revenue of $246.60 million for the quarter, compared to analysts' expectations of $252.90 million. Onity Group had a return on equity of 18.99% and a net margin of 3.74%. Research analysts forecast that Onity Group Inc. will post 10.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of Onity Group from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. B. Riley lifted their price target on shares of Onity Group from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, June 20th. Zacks Research cut shares of Onity Group from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 21st. Finally, Keefe, Bruyette & Woods boosted their price target 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 equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Onity Group has a consensus rating of "Moderate Buy" and an average target price of $50.00.

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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