Onity Group Inc. (NYSE:ONIT) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Onity Group Inc. (NYSE:ONIT) have been given an average rating of “Moderate Buy” by the five ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $54.00.

A number of analysts have recently commented on the company. Weiss Ratings cut Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Keefe, Bruyette & Woods decreased their target price on Onity Group from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. BTIG Research dropped their price target on shares of Onity Group from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. Texas Capital raised shares of Onity Group to a “strong-buy” rating in a report on Wednesday, June 10th. Finally, Wall Street Zen upgraded shares of Onity Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 25th.

Onity Group Price Performance

Shares of Onity Group stock opened at $40.55 on Thursday. The company has a quick ratio of 46.07, a current ratio of 46.07 and a debt-to-equity ratio of 19.46. Onity Group has a twelve month low of $33.22 and a twelve month high of $54.10. The business has a 50-day moving average price of $37.66 and a 200 day moving average price of $40.99. The firm has a market cap of $341.84 million, a PE ratio of 2.09 and a beta of 1.43.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Oaktree Capital Management LP purchased a new position in Onity Group in the 4th quarter valued at about $17,896,000. Wellington Management Group LLP purchased a new stake in Onity Group during the 3rd quarter worth approximately $10,370,000. JPMorgan Chase & Co. increased its stake 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 buying an additional 109,498 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Onity Group during the third quarter valued at approximately $2,742,000. Finally, Prescott Group Capital Management L.L.C. raised its holdings in shares of Onity Group by 29.2% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 212,585 shares of the company’s stock valued at $9,734,000 after acquiring an additional 47,992 shares during the last quarter. Institutional investors and hedge funds own 70.16% of the company’s stock.

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.