Renaissance Technologies LLC Makes New Investment in Onity Group (NYSE:ONIT)

Renaissance Technologies LLC purchased 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 SEC. The firm purchased 24,315 shares of the company's stock, valued at approximately $747,000. Renaissance Technologies LLC owned about 0.31% of Onity Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Onity Group in the fourth quarter valued at about $886,000. 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 worth $551,000 after acquiring an additional 11,126 shares during the period. Oaktree Capital Management LP acquired a new position in Onity Group in the 4th quarter valued at $12,604,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Onity Group during the 4th quarter valued at $583,000. Finally, Empowered Funds LLC acquired a new stake in shares of Onity Group during the 4th quarter worth $1,377,000. 70.16% of the stock is owned by institutional investors and hedge funds.

Onity Group Price Performance

Shares of NYSE ONIT traded down $0.16 during mid-day trading on Friday, hitting $36.96. 39,259 shares of the stock traded hands, compared to its average volume of 35,768. The firm has a 50 day simple moving average of $31.24 and a two-hundred day simple moving average of $31.97. Onity Group has a twelve month low of $22.40 and a twelve month high of $41.27. 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 cap of $296.02 million, a PE ratio of 9.04 and a beta of 1.89.

Onity Group (NYSE:ONIT - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $2.84 EPS for the quarter, topping the consensus estimate of $1.79 by $1.05. The firm had revenue of $249.80 million for the quarter, compared to the consensus estimate of $244.63 million. Onity Group had a return on equity of 20.50% and a net margin of 3.47%. As a group, equities research analysts forecast that Onity Group will post 10.51 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.