Onity Group Inc. (NYSE:ONIT) Receives Average Rating of “Hold” from Brokerages

Shares of Onity Group Inc. (NYSE:ONIT) have received an average recommendation of “Hold” from the five brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $57.50.

A number of analysts have recently issued reports on ONIT shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Onity Group in a report on Thursday, December 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Onity Group in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded Onity Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th.

Institutional Investors Weigh In On Onity Group

A number of hedge funds have recently made changes to their positions in ONIT. Dimensional Fund Advisors LP grew its holdings in shares of Onity Group by 1.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 435,921 shares of the company’s stock valued at $17,420,000 after purchasing an additional 5,766 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Onity Group by 1.0% in the third quarter. Vanguard Group Inc. now owns 339,620 shares of the company’s stock worth $13,571,000 after buying an additional 3,473 shares during the period. Wellington Management Group LLP bought a new stake in shares of Onity Group in the 3rd quarter valued at about $10,370,000. Geode Capital Management LLC boosted its holdings in Onity Group by 6.3% during the 2nd quarter. Geode Capital Management LLC now owns 148,257 shares of the company’s stock valued at $5,660,000 after acquiring an additional 8,748 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Onity Group by 585.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 128,210 shares of the company’s stock worth $4,894,000 after acquiring an additional 109,498 shares during the last quarter. 70.16% of the stock is currently owned by institutional investors.

Onity Group Stock Down 0.2%

Shares of NYSE ONIT opened at $42.88 on Thursday. The company has a current ratio of 38.90, a quick ratio of 38.90 and a debt-to-equity ratio of 22.41. The business has a 50-day moving average of $46.46 and a 200-day moving average of $42.31. The firm has a market capitalization of $345.61 million, a price-to-earnings ratio of 12.99 and a beta of 1.56. Onity Group has a 12 month low of $25.50 and a 12 month high of $54.10.

Onity Group (NYSE:ONIT) last announced its earnings results on Thursday, November 6th. The company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $1.52. Onity Group had a net margin of 3.41% and a return on equity of 17.81%. The business had revenue of $265.00 million during the quarter, compared to analyst estimates of $257.77 million. Sell-side analysts expect that Onity Group will post 10.51 earnings per share for the current fiscal year.

Onity Group Company Profile

Onity Group, listed on the New York Stock Exchange under the ticker ONIT, is a technology company specializing in enterprise operations management software. Its platform is designed to help legal, finance, human resources and corporate services teams automate and streamline mission-critical workflows. Leveraging artificial intelligence and no-code automation tools, Onity’s solutions aim to reduce manual processes, improve visibility and ensure compliance across complex organizational structures.

The company’s flagship offerings include contract lifecycle management, matter management, e-billing and spend management, as well as enterprise deal management.