Long Focus Capital Management LLC Makes New Investment in Onity Group (NYSE:ONIT)

Long Focus Capital Management LLC bought a new position in Onity Group (NYSE:ONIT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 652,088 shares of the company's stock, valued at approximately $20,026,000. Onity Group accounts for approximately 0.6% of Long Focus Capital Management LLC's holdings, making the stock its 27th largest position. Long Focus Capital Management LLC owned 8.29% of Onity Group as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Onity Group by 181.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,255 shares of the company's stock valued at $551,000 after buying an additional 11,126 shares during the period. Empowered Funds LLC acquired a new position in shares of Onity Group during the fourth quarter valued at approximately $1,377,000. Rhumbline Advisers bought a new stake in Onity Group during the fourth quarter worth approximately $313,000. New York State Common Retirement Fund acquired a new stake in Onity Group in the fourth quarter worth approximately $100,000. Finally, Bank of New York Mellon Corp acquired a new stake in Onity Group in the fourth quarter worth approximately $851,000. 70.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Onity Group Stock Up 1.9 %

Shares of NYSE ONIT traded up $0.62 during mid-day trading on Monday, reaching $33.68. The company had a trading volume of 13,424 shares, compared to its average volume of 35,185. The stock has a fifty day moving average of $30.85 and a two-hundred day moving average of $31.77. Onity Group has a 12-month low of $22.40 and a 12-month high of $41.27. The company has a market capitalization of $265.12 million, a price-to-earnings ratio of 8.23 and a beta of 1.58. The company has a debt-to-equity ratio of 20.28, a quick ratio of 26.46 and a current ratio of 26.46.

Onity Group (NYSE:ONIT - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($0.95). The firm had revenue of $224.80 million for the quarter, compared to analyst estimates of $253.37 million. Onity Group had a net margin of 3.47% and a return on equity of 20.50%. As a group, equities research analysts expect that Onity Group will post 10.51 EPS 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.