OneMain Holdings Inc. (OMF) Rating Lowered to Market Perform at Northland Securities
OneMain Holdings Inc. (NYSE:OMF) was downgraded by equities researchers at Northland Securities from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday. They presently have a $25.00 price objective on the stock, down from their previous price objective of $38.50. Northland Securities’ target price points to a potential upside of 36.84% from the stock’s current price.
Several other analysts have also recently commented on OMF. Guggenheim cut shares of OneMain Holdings from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $38.00 to $25.00 in a research note on Tuesday. Janney Montgomery Scott downgraded shares of OneMain Holdings from a “buy” rating to a “neutral” rating and cut their price target for the company from $65.00 to $30.00 in a report on Tuesday. FBR & Co downgraded shares of OneMain Holdings from an “outperform” rating to a “market perform” rating and cut their price target for the company from $40.00 to $26.00 in a report on Tuesday. Credit Suisse Group AG reiterated a “buy” rating on shares of OneMain Holdings in a report on Friday, August 5th. Finally, Jefferies Group reiterated a “buy” rating and issued a $30.00 price target (down previously from $40.00) on shares of OneMain Holdings in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $29.75.
Shares of OneMain Holdings (NYSE:OMF) opened at 18.27 on Wednesday. OneMain Holdings has a 52-week low of $16.03 and a 52-week high of $51.39. The company has a 50-day moving average of $28.76 and a 200-day moving average of $28.63. The stock’s market capitalization is $2.46 billion.
OneMain Holdings (NYSE:OMF) last released its earnings results on Monday, November 7th. The company reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by $0.17. OneMain Holdings had a positive return on equity of 19.47% and a negative net margin of 0.44%. During the same quarter last year, the firm posted $0.36 earnings per share. Equities research analysts anticipate that OneMain Holdings will post $4.23 EPS for the current year.
In other OneMain Holdings news, insider Jay N. Levine purchased 50,000 shares of OneMain Holdings stock in a transaction on Thursday, November 10th. The shares were purchased at an average cost of $18.37 per share, with a total value of $918,500.00. Following the completion of the transaction, the insider now directly owns 3,080,000 shares in the company, valued at approximately $56,579,600. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 57.81% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its stake in OneMain Holdings by 505.3% in the second quarter. Pacer Advisors Inc. now owns 5,375 shares of the company’s stock worth $122,000 after buying an additional 4,487 shares in the last quarter. Legal & General Group Plc raised its stake in OneMain Holdings by 131.6% in the second quarter. Legal & General Group Plc now owns 7,625 shares of the company’s stock worth $174,000 after buying an additional 4,332 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in OneMain Holdings during the second quarter worth about $185,000. Teacher Retirement System of Texas raised its stake in OneMain Holdings by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 8,488 shares of the company’s stock worth $194,000 after buying an additional 1,030 shares in the last quarter. Finally, Menta Capital LLC purchased a new stake in OneMain Holdings during the second quarter worth about $215,000. Institutional investors own 99.11% of the company’s stock.
OneMain Holdings Company Profile
OneMain Holdings, Inc, formerly Springleaf Holdings, Inc, incorporated on August 5, 2013, is a financial services holding company. The Company provides responsible loan products; offers credit and non-credit insurance; pursues strategic acquisitions of loan portfolios, and pursues acquisitions of companies and/or establish joint ventures.
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