Onity Group (NYSE:ONIT) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Onity Group from “hold” to “sell,” adding to a mixed analyst picture. Overall, MarketBeat shows a consensus rating of Hold with a $57.67 average price target.
• Onity’s latest quarterly results missed expectations, with EPS of $0.74 versus the $2.37 consensus and revenue of $278.0 million below estimates. The company also posted a net margin of 15.75% and return on equity of 9.10%.
• The stock has been under pressure, recently opening at $38.94 and trading below both its 50-day and 200-day moving averages. Onity has a market cap of about $328 million, a low P/E ratio of 2.01, and significant institutional ownership at 70.16%.

Onity Group (NYSE:ONIT - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Sunday.

A number of other equities research analysts have also recently commented on the company. Weiss Ratings cut Onity Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday. BTIG Research upped their price objective on Onity Group from $50.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, February 12th. Finally, Keefe, Bruyette & Woods cut their target price on Onity Group from $60.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $57.67.

Onity Group Stock Performance

Shares of NYSE ONIT opened at $38.94 on Friday. The firm has a fifty day moving average price of $41.35 and a 200-day moving average price of $43.07. The company has a debt-to-equity ratio of 19.46, a current ratio of 46.07 and a quick ratio of 35.55. The stock has a market cap of $328.25 million, a PE ratio of 2.01 and a beta of 1.56. Onity Group has a 1 year low of $35.47 and a 1 year high of $54.10.

Onity Group (NYSE:ONIT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.74 EPS for the quarter, missing the consensus estimate of $2.37 by ($1.63). Onity Group had a net margin of 15.75% and a return on equity of 9.10%. The firm had revenue of $278.00 million for the quarter, compared to the consensus estimate of $290.10 million.

Hedge Funds Weigh In On Onity Group

Institutional investors have recently bought and sold shares of the stock. CWM LLC increased its holdings in Onity Group by 60.3% in the 4th quarter. CWM LLC now owns 758 shares of the company's stock valued at $35,000 after acquiring an additional 285 shares during the last quarter. State Street Corp boosted its holdings in shares of Onity Group by 0.3% during the 4th quarter. State Street Corp now owns 128,906 shares of the company's stock valued at $5,903,000 after purchasing an additional 362 shares during the last quarter. First Trust Advisors LP grew its position in shares of Onity Group by 2.5% during the fourth quarter. First Trust Advisors LP now owns 20,128 shares of the company's stock valued at $922,000 after purchasing an additional 498 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Onity Group by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 150,832 shares of the company's stock valued at $6,908,000 after purchasing an additional 837 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Onity Group by 23.2% in the third quarter. Bank of America Corp DE now owns 5,027 shares of the company's stock worth $201,000 after purchasing an additional 945 shares during the last quarter. 70.16% of the stock is owned by hedge funds and other institutional investors.

Onity Group Company Profile

Onity Group, listed on the New York Stock Exchange under the ticker ONIT, is a technology company specializing in enterprise operations management software. Its platform is designed to help legal, finance, human resources and corporate services teams automate and streamline mission-critical workflows. Leveraging artificial intelligence and no-code automation tools, Onity's solutions aim to reduce manual processes, improve visibility and ensure compliance across complex organizational structures.

The company's flagship offerings include contract lifecycle management, matter management, e-billing and spend management, as well as enterprise deal management.

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