Weiss Ratings Reaffirms Hold (C) Rating for Onity Group (NYSE:ONIT)

Key Points

• Weiss Ratings has reiterated a "hold (c)" rating for Onity Group (NYSE:ONIT) in their latest report.
• Despite a recent increase in stock price, Onity Group reported earnings of $1.87 per share, missing the consensus estimate by 21 cents.
• Most research analysts have rated Onity Group as a "hold," with a consensus price target of $50.00, while some have upgraded their ratings to "buy."

Onity Group (NYSE:ONIT - Get Free Report)'s stock had its "hold (c)" rating reiterated by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Other analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods raised their price objective on shares of Onity Group from $50.00 to $55.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Wall Street Zen raised shares of Onity Group from a "hold" rating to a "buy" rating in a report on Friday, September 5th. B. Riley raised their price objective 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, Zacks Research cut shares of Onity Group from a "hold" rating to a "strong sell" rating in a report on Thursday, August 21st. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Onity Group has a consensus rating of "Hold" and an average price target of $50.00.

Onity Group Stock Up 0.9%

ONIT stock traded up $0.35 during midday trading on Wednesday, reaching $37.66. 2,292 shares of the company were exchanged, compared to its average volume of 46,649. The company has a debt-to-equity ratio of 23.99, a quick ratio of 37.90 and a current ratio of 37.90. Onity Group has a 1-year low of $25.50 and a 1-year high of $45.83. The stock's 50-day simple moving average is $40.85 and its 200 day simple moving average is $37.39. The company has a market cap of $303.50 million, a price-to-earnings ratio of 9.61 and a beta of 1.49.

Onity Group (NYSE:ONIT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.87 earnings per share for the quarter, missing analysts' consensus estimates of $2.08 by ($0.21). Onity Group had a return on equity of 18.99% and a net margin of 3.74%.The company had revenue of $246.60 million for the quarter, compared to analyst estimates of $252.90 million. On average, equities analysts forecast that Onity Group will post 10.51 earnings per share for the current year.

Hedge Funds Weigh In On Onity Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE purchased a new position in Onity Group in the 4th quarter valued at $294,000. GAMMA Investing LLC boosted its position in shares of Onity Group by 7,724.6% during the 1st quarter. GAMMA Investing LLC now owns 4,460 shares of the company's stock worth $138,000 after purchasing an additional 4,403 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Onity Group by 139.9% during the 1st quarter. American Century Companies Inc. now owns 75,025 shares of the company's stock worth $2,425,000 after purchasing an additional 43,755 shares in the last quarter. Long Focus Capital Management LLC boosted its position in shares of Onity Group by 3.8% during the 1st quarter. Long Focus Capital Management LLC now owns 677,088 shares of the company's stock worth $21,883,000 after purchasing an additional 25,000 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Onity Group during the 1st quarter worth $443,000. 70.16% of the stock is currently owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.