Renaissance Technologies LLC Invests $747,000 in Onity Group (NYSE:ONIT)

Renaissance Technologies LLC acquired a new position in shares of Onity Group (NYSE:ONIT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 24,315 shares of the company’s stock, valued at approximately $747,000. Renaissance Technologies LLC owned about 0.31% of Onity Group as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ONIT. Wells Fargo & Company MN bought a new position in shares of Onity Group during the 4th quarter valued at $116,000. Geode Capital Management LLC bought a new position in shares of Onity Group during the fourth quarter valued at about $4,163,000. Oaktree Capital Management LP purchased a new position in shares of Onity Group in the fourth quarter worth about $12,604,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Onity Group in the 4th quarter valued at about $2,770,000. Finally, JPMorgan Chase & Co. boosted its holdings in Onity Group by 205.6% during the 4th quarter. JPMorgan Chase & Co. now owns 52,723 shares of the company’s stock valued at $1,619,000 after acquiring an additional 35,468 shares during the period. 70.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, B. Riley raised shares of Onity Group to a “strong-buy” rating in a report on Tuesday, January 7th.

Onity Group Trading Down 1.0 %

NYSE:ONIT opened at $37.15 on Friday. The stock has a market cap of $292.44 million, a price-to-earnings ratio of 9.08 and a beta of 1.58. The company has a quick ratio of 26.46, a current ratio of 26.46 and a debt-to-equity ratio of 20.28. The company’s 50 day moving average price is $31.15 and its 200-day moving average price is $31.91. Onity Group has a 52 week low of $22.40 and a 52 week high of $41.27.

Onity Group (NYSE:ONIT) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $1.05. Onity Group had a net margin of 3.47% and a return on equity of 20.50%. The firm had revenue of $249.80 million during the quarter, compared to analyst estimates of $244.63 million. On average, equities research analysts forecast that Onity Group will post 10.51 earnings per share for the current fiscal year.

Onity Group Company Profile

Onity Group Inc, a financial services company, originates and services mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines. It operates through, Servicing and Originations segments. The company provides commercial forward mortgage loan servicing, reverse mortgage servicing, special servicing, and asset management services for to owners of mortgage loans and foreclosed real estate, as well as residential mortgage loan servicing, such as forward and reverse conventional, government-insured, and non-agency loans, including the reverse mortgage loans classified as loans.