Onity Group (NYSE:ONIT) Downgraded by Wall Street Zen to "Hold"

Wall Street Zen downgraded shares of Onity Group (NYSE:ONIT - Free Report) from a buy rating to a hold rating in a research report sent to investors on Friday.

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

Onity Group Stock Performance

NYSE ONIT traded up $0.48 during trading on Friday, reaching $37.13. The company's stock had a trading volume of 8,823 shares, compared to its average volume of 39,058. The company has a current ratio of 33.57, a quick ratio of 33.57 and a debt-to-equity ratio of 25.88. The firm has a market capitalization of $297.33 million, a price-to-earnings ratio of 12.99 and a beta of 1.65. Onity Group has a 12 month low of $24.26 and a 12 month high of $41.27. The firm has a 50 day moving average price of $37.72 and a 200 day moving average price of $34.53.

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 for the quarter, topping analysts' consensus estimates of $1.79 by $1.05. Onity Group had a net margin of 2.62% and a return on equity of 22.67%. The company had revenue of $249.80 million during the quarter, compared to the consensus estimate of $244.63 million. As a group, equities analysts anticipate that Onity Group will post 10.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Onity Group

Large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new stake in shares of Onity Group in the 4th quarter valued at $84,000. Corebridge Financial Inc. purchased a new stake in shares of Onity Group in the 4th quarter valued at $98,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Onity Group in the 4th quarter valued at $115,000. Wells Fargo & Company MN purchased a new stake in shares of Onity Group in the 4th quarter valued at $116,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of Onity Group in the 4th quarter valued at $117,000. Hedge funds and other institutional investors own 70.16% of the company's stock.

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.