JPMorgan Chase & Co. Acquires 35,468 Shares of Onity Group (NYSE:ONIT)

JPMorgan Chase & Co. raised its holdings in shares of Onity Group (NYSE:ONIT - Free Report) by 205.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,723 shares of the company's stock after purchasing an additional 35,468 shares during the quarter. JPMorgan Chase & Co. owned 0.67% of Onity Group worth $1,619,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Corebridge Financial Inc. acquired a new position in Onity Group during the 4th quarter valued at about $98,000. New York State Common Retirement Fund purchased a new position in Onity Group during the fourth quarter worth about $100,000. SBI Securities Co. Ltd. bought a new position in shares of Onity Group during the 4th quarter worth approximately $224,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Onity Group in the fourth quarter valued at approximately $226,000. Finally, Rhumbline Advisers bought a new stake in Onity Group during the fourth quarter worth $313,000. 70.16% of the stock is owned by institutional investors.

Onity Group Stock Performance

Shares of Onity Group stock traded up $0.47 during trading hours on Thursday, reaching $37.98. The company had a trading volume of 20,055 shares, compared to its average volume of 35,537. The business has a fifty day simple moving average of $31.04 and a 200 day simple moving average of $31.86. The firm has a market cap of $299.02 million, a PE ratio of 9.29 and a beta of 1.58. The company has a debt-to-equity ratio of 20.28, a current ratio of 26.46 and a quick ratio of 26.46. Onity Group has a one year low of $22.40 and a one year high of $41.27.

Onity Group (NYSE:ONIT - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $1.39 earnings per share for the quarter, missing analysts' consensus estimates of $2.34 by ($0.95). Onity Group had a return on equity of 20.50% and a net margin of 3.47%. The firm had revenue of $224.80 million for the quarter, compared to the consensus estimate of $253.37 million. On average, analysts anticipate that Onity Group will post 10.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Onity Group 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.