Two Sigma Investments LP Takes Position in Onity Group (NYSE:ONIT)

Two Sigma Investments LP purchased a new position in shares of Onity Group (NYSE:ONIT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 have also made changes to their positions in ONIT. Empowered Funds LLC acquired a new stake in shares of Onity Group during the 4th quarter worth approximately $1,377,000. Rhumbline Advisers acquired a new stake in shares of Onity Group during the 4th quarter worth approximately $313,000. New York State Common Retirement Fund acquired a new stake in shares of Onity Group during the 4th quarter worth approximately $100,000. Bank of New York Mellon Corp acquired a new stake in shares of Onity Group during the 4th quarter worth approximately $851,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Onity Group during the 4th quarter worth approximately $224,000. 70.16% of the stock is currently owned by institutional investors and hedge funds.

Onity Group Stock Performance

ONIT traded up $0.86 during trading hours on Wednesday, hitting $38.87. The company's stock had a trading volume of 41,860 shares, compared to its average volume of 36,848. Onity Group has a fifty-two week low of $22.40 and a fifty-two week high of $41.27. The company has a current ratio of 26.46, a quick ratio of 26.46 and a debt-to-equity ratio of 20.28. The firm has a market capitalization of $311.32 million, a PE ratio of 9.50 and a beta of 1.66. The company has a 50-day simple moving average of $34.86 and a 200 day simple moving average of $33.37.

Onity Group (NYSE:ONIT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $2.84 EPS for the quarter, beating the consensus estimate of $1.79 by $1.05. Onity Group had a return on equity of 20.50% and a net margin of 3.47%. The firm had revenue of $249.80 million for the quarter, compared to analysts' expectations of $244.63 million. As a group, sell-side analysts expect that Onity Group will post 10.51 EPS for the current year.

Wall Street Analyst Weigh In

ONIT has been the topic of a number of research reports. BTIG Research reiterated a "buy" rating on shares of Onity Group in a research report on Monday, May 5th. Keefe, Bruyette & Woods increased their price target on Onity Group from $45.00 to $50.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th.

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.