Onity Group Inc. (NYSE:ONIT) Short Interest Update

Onity Group Inc. (NYSE:ONIT) was the recipient of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 135,178 shares, an increase of 20.4% from the February 26th total of 112,289 shares. Approximately 1.7% of the shares of the company are sold short. Based on an average trading volume of 65,142 shares, the days-to-cover ratio is currently 2.1 days.

Institutional Investors Weigh In On Onity Group

Several institutional investors and hedge funds have recently bought and sold shares of ONIT. CWM LLC grew its stake in Onity Group by 60.3% during the fourth quarter. CWM LLC now owns 758 shares of the company’s stock worth $35,000 after buying an additional 285 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of Onity Group during the 3rd quarter worth approximately $77,000. State of Wyoming acquired a new stake in shares of Onity Group during the 2nd quarter worth approximately $119,000. BNP Paribas Financial Markets boosted its position in shares of Onity Group by 367.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,163 shares of the company’s stock worth $121,000 after acquiring an additional 2,486 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in Onity Group in the second quarter valued at approximately $184,000. Institutional investors own 70.16% of the company’s stock.

Onity Group Price Performance

Onity Group stock traded up $0.91 during mid-day trading on Tuesday, reaching $39.45. 45,196 shares of the company were exchanged, compared to its average volume of 73,734. The firm has a market cap of $336.13 million, a PE ratio of 1.86 and a beta of 1.56. The company has a debt-to-equity ratio of 18.86, a current ratio of 35.55 and a quick ratio of 35.55. The company has a fifty day simple moving average of $42.30 and a 200-day simple moving average of $42.41. Onity Group has a 12 month low of $25.50 and a 12 month high of $54.10.

Onity Group (NYSE:ONIT) last released its earnings results on Thursday, February 12th. The company reported $14.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $11.78. The firm had revenue of $280.00 million during the quarter, compared to the consensus estimate of $285.60 million. Onity Group had a return on equity of 15.84% and a net margin of 17.76%. As a group, equities research analysts expect that Onity Group will post 10.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ONIT shares. Wall Street Zen upgraded Onity Group from a “hold” rating to a “buy” rating in a report on Saturday, March 14th. BTIG Research boosted their target price on shares of Onity Group from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Weiss Ratings restated a “hold (c)” rating on shares of Onity Group in a research note on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods raised shares of Onity Group from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.33.

About Onity Group

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.