Renaissance Technologies LLC Takes Position in Onity Group (NYSE:ONIT)

Renaissance Technologies LLC acquired a new position in shares of Onity Group (NYSE:ONIT - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 24,315 shares of the company's stock, valued at approximately $747,000. Renaissance Technologies LLC owned approximately 0.31% of Onity Group as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ONIT. JPMorgan Chase & Co. lifted its holdings in shares of 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 purchasing an additional 11,126 shares during the last quarter. Empowered Funds LLC purchased a new stake in Onity Group in the fourth quarter valued at about $1,377,000. Rhumbline Advisers acquired a new stake in Onity Group in the fourth quarter worth about $313,000. New York State Common Retirement Fund purchased a new stake in shares of Onity Group during the fourth quarter worth about $100,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Onity Group during the fourth quarter valued at about $851,000. Institutional investors own 70.16% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on ONIT shares. Keefe, Bruyette & Woods boosted their target price on shares of Onity Group from $45.00 to $50.00 and gave the stock an "outperform" rating in a research report on Wednesday. BTIG Research reissued a "buy" rating on shares of Onity Group in a research report on Monday. Finally, B. Riley raised Onity Group to a "strong-buy" rating in a research report on Tuesday, January 7th.

Onity Group Stock Performance

Shares of Onity Group stock traded down $0.19 during trading on Wednesday, hitting $37.07. 64,153 shares of the company's stock were exchanged, compared to its average volume of 36,134. The stock has a market capitalization of $296.92 million, a price-to-earnings ratio of 9.06 and a beta of 1.89. The business has a 50-day simple moving average of $31.53 and a 200-day simple moving average of $32.10. Onity Group has a 52-week low of $22.40 and a 52-week high of $41.27. 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 posted 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 analyst estimates of $244.63 million. Onity Group had a return on equity of 20.50% and a net margin of 3.47%. On average, research analysts forecast that Onity Group will post 10.51 EPS for the current year.

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.