Short Interest in Onity Group (NYSE:ONIT) Drops By 14.1%

Onity Group (NYSE:ONIT - Get Free Report) was the target of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 115,300 shares, a drop of 14.1% from the April 30th total of 134,200 shares. Based on an average trading volume of 48,200 shares, the short-interest ratio is currently 2.4 days. Approximately 1.8% of the company's stock are sold short.

Institutional Investors Weigh In On Onity Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in shares of Onity Group during the 4th quarter worth about $886,000. Northern Trust Corp acquired a new position in shares of Onity Group during the 4th quarter worth about $1,577,000. Oaktree Capital Management LP acquired a new position in shares of Onity Group during the 4th quarter worth about $12,604,000. Barclays PLC acquired a new position in shares of Onity Group during the 4th quarter worth about $310,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Onity Group during the 4th quarter worth about $483,000. 70.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. BTIG Research restated a "buy" rating on shares of Onity Group in a report on Monday, May 5th. Keefe, Bruyette & Woods raised their price objective on shares of Onity Group from $45.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th.

Onity Group Stock Up 0.8%

ONIT stock traded up $0.28 during midday trading on Friday, hitting $37.33. The company's stock had a trading volume of 22,326 shares, compared to its average volume of 36,608. 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 twelve month low of $22.40 and a twelve month high of $41.27. The company's fifty day moving average price is $34.37 and its 200 day moving average price is $33.26. The stock has a market capitalization of $298.98 million, a P/E ratio of 9.13 and a beta of 1.66.

Onity Group (NYSE:ONIT - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $1.05. Onity Group had a net margin of 3.47% and a return on equity of 20.50%. The firm had revenue of $249.80 million for the quarter, compared to analyst estimates of $244.63 million. As a group, equities research analysts predict 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.