Wall Street Zen Downgrades Onity Group (NYSE:ONIT) to Hold

Onity Group (NYSE:ONIT - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Friday.

Several other equities research analysts have also issued reports on ONIT. Keefe, Bruyette & Woods lifted their price objective on shares of Onity Group from $45.00 to $50.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. B. Riley raised their target price on Onity Group from $50.00 to $55.00 and gave the company a "buy" rating in a report on Friday, June 20th. Finally, BTIG Research reiterated a "buy" rating on shares of Onity Group in a research note on Monday, May 5th.

Onity Group Stock Down 2.2%

Shares of ONIT traded down $0.84 during midday trading on Friday, reaching $36.51. 26,378 shares of the stock were exchanged, compared to its average volume of 39,150. The company has a market cap of $292.45 million, a price-to-earnings ratio of 12.81 and a beta of 1.65. The company has a quick ratio of 33.57, a current ratio of 33.57 and a debt-to-equity ratio of 25.88. Onity Group has a 12-month low of $24.26 and a 12-month high of $41.27. The firm has a 50 day simple moving average of $37.72 and a 200-day simple moving average of $34.48.

Onity Group (NYSE:ONIT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $2.84 earnings per share for the quarter, beating 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 net margin of 2.62% and a return on equity of 22.67%. Research analysts forecast that Onity Group will post 10.51 EPS for the current year.

Institutional Trading of Onity Group

Several large investors have recently modified their holdings of the company. Acadian Asset Management LLC lifted its position in shares of Onity Group by 206.5% during the 1st quarter. Acadian Asset Management LLC now owns 41,823 shares of the company's stock worth $1,351,000 after purchasing an additional 28,178 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Onity Group during the first quarter worth approximately $256,000. Empowered Funds LLC boosted its position in shares of Onity Group by 7.1% in the first quarter. Empowered Funds LLC now owns 48,029 shares of the company's stock valued at $1,552,000 after acquiring an additional 3,184 shares during the period. Long Focus Capital Management LLC boosted its position in shares of Onity Group by 3.8% in the first quarter. Long Focus Capital Management LLC now owns 677,088 shares of the company's stock valued at $21,883,000 after acquiring an additional 25,000 shares during the period. Finally, Corsair Capital Management L.P. acquired a new stake in shares of Onity Group in the first quarter worth $162,000. 70.16% of the stock is owned by institutional investors.

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.

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