Ritholtz Wealth Management Invests $292,000 in Onity Group Inc. $ONIT

Key Points

• Ritholtz Wealth Management has invested approximately $292,000 in Onity Group Inc., acquiring 7,638 shares in the 2nd quarter.
• A significant portion, about 70.16%, of Onity Group's stock is currently owned by hedge funds and institutional investors, with multiple firms increasing their stakes.
• Analysts have mixed views on Onity Group, with a recent upgrade to a "buy" rating by Wall Street Zen and a downgrade to "strong sell" by Zacks Research.

Ritholtz Wealth Management acquired a new position in Onity Group Inc. (NYSE:ONIT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,638 shares of the company's stock, valued at approximately $292,000. Ritholtz Wealth Management owned about 0.10% of Onity Group as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ONIT. GAMMA Investing LLC raised its stake in shares of 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 purchasing an additional 4,403 shares during the last quarter. Corsair Capital Management L.P. purchased a new position in shares of Onity Group in the first quarter worth about $162,000. Jane Street Group LLC purchased a new position in shares of Onity Group in the first quarter worth about $256,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Onity Group by 40.7% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,331 shares of the company's stock worth $334,000 after purchasing an additional 2,988 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Onity Group in the first quarter worth about $443,000. 70.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ONIT has been the subject of several recent research reports. Wall Street Zen upgraded Onity Group from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. Zacks Research cut Onity Group from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 21st. 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 research report on Wednesday, August 6th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Onity Group in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $50.00.

Onity Group Stock Up 5.0%

Onity Group stock opened at $37.66 on Tuesday. The stock has a market capitalization of $303.54 million, a PE ratio of 9.61 and a beta of 1.49. Onity Group Inc. has a 12 month low of $25.50 and a 12 month high of $45.83. The business has a 50 day simple moving average of $40.57 and a 200-day simple moving average of $37.76. 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 posted 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). The business had revenue of $246.60 million during the quarter, compared to analysts' expectations of $252.90 million. Onity Group had a net margin of 3.74% and a return on equity of 18.99%. On average, analysts anticipate that Onity Group Inc. will post 10.51 EPS for the current fiscal year.

Onity Group 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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