Dimensional Fund Advisors LP Acquires Shares of 396,558 Onity Group (NYSE:ONIT)

Dimensional Fund Advisors LP bought a new position in shares of Onity Group (NYSE:ONIT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 396,558 shares of the company’s stock, valued at approximately $12,178,000. Dimensional Fund Advisors LP owned approximately 5.04% of Onity Group as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Oaktree Capital Management LP acquired a new stake in Onity Group during the fourth quarter worth about $12,604,000. Prescott Group Capital Management L.L.C. bought a new stake in shares of Onity Group during the 4th quarter worth approximately $4,686,000. Geode Capital Management LLC acquired a new stake in shares of Onity Group during the 4th quarter worth approximately $4,163,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Onity Group during the 4th quarter worth approximately $2,770,000. Finally, Zacks Investment Management bought a new position in Onity Group in the fourth quarter valued at approximately $2,486,000. Institutional investors own 70.16% of the company’s stock.

Onity Group Price Performance

ONIT stock opened at $37.80 on Friday. Onity Group has a 1 year low of $22.40 and a 1 year high of $41.27. The company has a debt-to-equity ratio of 20.28, a current ratio of 26.46 and a quick ratio of 26.46. The stock has a market cap of $302.74 million, a price-to-earnings ratio of 9.24 and a beta of 1.89. The company has a 50 day simple moving average of $31.82 and a 200 day simple moving average of $32.20.

Onity Group (NYSE:ONIT) last released its quarterly earnings data on Wednesday, April 30th. The company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $1.79 by $1.05. Onity Group had a return on equity of 20.50% and a net margin of 3.47%. The company had revenue of $249.80 million for the quarter, compared to the consensus estimate of $244.63 million. Research analysts anticipate that Onity Group will post 10.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ONIT has been the topic of a number of research analyst reports. BTIG Research reaffirmed a “buy” rating on shares of Onity Group in a report on Monday. Keefe, Bruyette & Woods raised their price objective on Onity Group from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday.

Onity Group 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.