Prescott Group Capital Management L.L.C. Acquires 47,992 Shares of Onity Group Inc. $ONIT

Prescott Group Capital Management L.L.C. grew its holdings in Onity Group Inc. (NYSE:ONIT) by 29.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 212,585 shares of the company’s stock after acquiring an additional 47,992 shares during the quarter. Onity Group accounts for about 0.9% of Prescott Group Capital Management L.L.C.’s investment portfolio, making the stock its 20th largest holding. Prescott Group Capital Management L.L.C.’s holdings in Onity Group were worth $9,734,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. CWM LLC increased its holdings in shares of Onity Group by 60.3% in the fourth quarter. CWM LLC now owns 758 shares of the company’s stock worth $35,000 after acquiring an additional 285 shares in the last quarter. AlphaQuest LLC bought a new position in shares of Onity Group during the third quarter worth about $77,000. State of Wyoming bought a new position in shares of Onity Group during the second quarter worth about $119,000. BNP Paribas Financial Markets grew its holdings in shares of Onity Group by 367.2% during the second quarter. BNP Paribas Financial Markets now owns 3,163 shares of the company’s stock worth $121,000 after buying 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 shares of Onity Group during the second quarter worth about $184,000. 70.16% of the stock is currently owned by institutional investors.

Onity Group Stock Up 0.4%

NYSE:ONIT opened at $34.60 on Thursday. The stock has a 50-day simple moving average of $40.44 and a 200 day simple moving average of $42.97. Onity Group Inc. has a 52-week low of $34.30 and a 52-week high of $54.10. The company has a debt-to-equity ratio of 19.46, a quick ratio of 46.07 and a current ratio of 46.07. The company has a market cap of $291.68 million, a PE ratio of 1.78 and a beta of 1.56.

Onity Group (NYSE:ONIT) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.74 EPS for the quarter, missing the consensus estimate of $2.37 by ($1.63). Onity Group had a net margin of 15.75% and a return on equity of 9.10%. The company had revenue of $278.00 million for the quarter, compared to analyst estimates of $290.10 million.

Wall Street Analyst Weigh In

ONIT has been the subject of a number of research reports. BTIG Research increased their price objective on Onity Group from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Keefe, Bruyette & Woods decreased their price objective on Onity Group from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Wall Street Zen downgraded Onity Group from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Finally, Weiss Ratings downgraded Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $57.67.

Onity Group 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.