Onity Group (NYSE:ONIT) Rating Increased to Strong-Buy at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Onity Group (NYSE:ONIT) from a moderate buy rating to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

ONIT has been the topic of a number of other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Onity Group in a report on Thursday, January 22nd. Wall Street Zen raised Onity Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Finally, BTIG Research lifted their target price on Onity Group from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $58.33.

Onity Group Stock Down 2.5%

Shares of ONIT stock traded down $1.09 on Wednesday, hitting $41.84. The stock had a trading volume of 14,939 shares, compared to its average volume of 79,960. Onity Group has a one year low of $25.50 and a one year high of $54.10. The business has a 50 day moving average price of $46.30 and a 200 day moving average price of $42.70. The company has a market cap of $356.44 million, a PE ratio of 1.98 and a beta of 1.56. The company has a quick ratio of 38.90, a current ratio of 35.55 and a debt-to-equity ratio of 18.86.

Institutional Investors Weigh In On Onity Group

A number of large investors have recently modified their holdings of ONIT. Invesco Ltd. increased its holdings in shares of Onity Group by 16.5% during the fourth quarter. Invesco Ltd. now owns 10,606 shares of the company’s stock valued at $486,000 after acquiring an additional 1,499 shares in the last quarter. Empowered Funds LLC increased its stake in Onity Group by 6.5% during the 4th quarter. Empowered Funds LLC now owns 55,115 shares of the company’s stock valued at $2,524,000 after purchasing an additional 3,346 shares in the last quarter. Wellington Management Group LLP increased its stake in Onity Group by 18.3% during the 4th quarter. Wellington Management Group LLP now owns 307,000 shares of the company’s stock valued at $14,058,000 after purchasing an additional 47,500 shares in the last quarter. Oaktree Capital Management LP purchased a new position in shares of Onity Group in the fourth quarter worth $17,896,000. Finally, Millennium Management LLC acquired a new stake in shares of Onity Group during the fourth quarter worth $329,000. Hedge funds and other institutional investors own 70.16% of the company’s stock.

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.