Geode Capital Management LLC Invests $4.16 Million in Onity Group (NYSE:ONIT)

Geode Capital Management LLC acquired a new position in shares of Onity Group (NYSE:ONIT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 135,547 shares of the company's stock, valued at approximately $4,163,000. Geode Capital Management LLC owned about 1.72% of Onity Group at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ONIT. Corebridge Financial Inc. bought a new stake in shares of Onity Group in the fourth quarter worth $98,000. New York State Common Retirement Fund bought a new position in shares of Onity Group in the fourth quarter valued at about $100,000. SBI Securities Co. Ltd. bought a new stake in shares of Onity Group during the fourth quarter worth approximately $224,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Onity Group in the 4th quarter valued at $226,000. Finally, Rhumbline Advisers acquired a new position in shares of Onity Group in the fourth quarter valued at about $313,000. 70.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, B. Riley upgraded Onity Group to a "strong-buy" rating in a research note on Tuesday, January 7th.

Onity Group Price Performance

ONIT stock traded down $1.02 during midday trading on Friday, reaching $36.10. The company had a trading volume of 8,635 shares, compared to its average volume of 35,659. Onity Group has a 1-year low of $22.40 and a 1-year high of $41.27. The stock has a 50 day moving average price of $31.15 and a 200-day moving average price of $31.91. 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 has a market capitalization of $284.22 million, a price-to-earnings ratio of 8.89 and a beta of 1.58.

Onity Group (NYSE:ONIT - Get Free Report) last issued 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. The company had revenue of $249.80 million during the quarter, compared to analysts' expectations of $244.63 million. Onity Group had a net margin of 3.47% and a return on equity of 20.50%. Equities research analysts expect that Onity Group will post 10.51 earnings per share for the current 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.