Short Interest in Onity Group (NYSE:ONIT) Expands By 23.0%

Onity Group (NYSE:ONIT - Get Free Report) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 137,900 shares, an increase of 23.0% from the March 31st total of 112,100 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average trading volume of 48,600 shares, the days-to-cover ratio is presently 2.8 days.

Onity Group Stock Up 3.4 %

NYSE ONIT traded up $1.25 during trading hours on Thursday, hitting $38.32. The company had a trading volume of 5,787 shares, compared to its average volume of 49,029. Onity Group has a fifty-two week low of $22.40 and a fifty-two week high of $41.27. The firm's 50 day moving average is $31.53 and its 200 day moving average is $32.10. 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 $306.90 million, a price-to-earnings ratio of 9.37 and a beta of 1.89.

Onity Group (NYSE:ONIT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $244.63 million. Sell-side analysts anticipate that Onity Group will post 10.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. BTIG Research reaffirmed a "buy" rating on shares of Onity Group in a research note on Monday. Keefe, Bruyette & Woods lifted their price target on Onity Group from $45.00 to $50.00 and gave the stock an "outperform" rating in a research note on Wednesday.

Institutional Trading of Onity Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new position in shares of Onity Group during the fourth quarter valued at $84,000. Corebridge Financial Inc. bought a new position in Onity Group during the 4th quarter valued at $98,000. New York State Common Retirement Fund bought a new stake in shares of Onity Group in the 4th quarter worth $100,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Onity Group in the fourth quarter valued at $115,000. Finally, Wells Fargo & Company MN bought a new position in Onity Group during the fourth quarter valued at about $116,000. Institutional investors and hedge funds own 70.16% of the company's stock.

About Onity Group

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.