Two Sigma Investments LP Invests $662,000 in Onity Group (NYSE:ONIT)

Two Sigma Investments LP purchased a new position in shares of Onity Group (NYSE:ONIT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 21,550 shares of the company's stock, valued at approximately $662,000. Two Sigma Investments LP owned 0.27% of Onity Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ONIT. Corebridge Financial Inc. acquired a new position in Onity Group during the 4th quarter worth approximately $98,000. New York State Common Retirement Fund acquired a new position in Onity Group during the 4th quarter worth approximately $100,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Onity Group during the 4th quarter worth approximately $115,000. Wells Fargo & Company MN acquired a new position in Onity Group during the 4th quarter worth approximately $116,000. Finally, MetLife Investment Management LLC acquired a new position in Onity Group during the 4th quarter worth approximately $117,000. Institutional investors own 70.16% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ONIT. Keefe, Bruyette & Woods upped their price target on shares of Onity Group from $45.00 to $50.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. BTIG Research restated a "buy" rating on shares of Onity Group in a research report on Monday, May 5th.

Onity Group Stock Up 0.8%

ONIT opened at $37.33 on Friday. 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's 50-day moving average is $34.37 and its 200 day moving average is $33.24. Onity Group has a fifty-two week low of $22.40 and a fifty-two week high of $41.27. The firm has a market capitalization of $298.98 million, a P/E ratio of 9.13 and a beta of 1.66.

Onity Group (NYSE:ONIT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $2.84 EPS for the quarter, topping the consensus estimate of $1.79 by $1.05. Onity Group had a net margin of 3.47% and a return on equity of 20.50%. The business had revenue of $249.80 million for the quarter, compared to analyst estimates of $244.63 million. Research analysts expect that Onity Group 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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