Jacobs Levy Equity Management Inc. Decreases Holdings in Onity Group Inc. $ONIT

Jacobs Levy Equity Management Inc. reduced its holdings in Onity Group Inc. (NYSE:ONIT) by 5.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,467 shares of the company’s stock after selling 1,154 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.23% of Onity Group worth $597,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Long Focus Capital Management LLC lifted its stake in shares of Onity Group by 3.8% in the first quarter. Long Focus Capital Management LLC now owns 677,088 shares of the company’s stock worth $21,883,000 after buying an additional 25,000 shares in the last quarter. Prescott Group Capital Management L.L.C. lifted its stake in shares of Onity Group by 7.9% in the first quarter. Prescott Group Capital Management L.L.C. now owns 164,593 shares of the company’s stock worth $5,320,000 after buying an additional 12,000 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Onity Group by 139.9% in the first quarter. American Century Companies Inc. now owns 75,025 shares of the company’s stock worth $2,425,000 after buying an additional 43,755 shares in the last quarter. Segall Bryant & Hamill LLC lifted its stake in shares of Onity Group by 42.1% in the first quarter. Segall Bryant & Hamill LLC now owns 60,420 shares of the company’s stock worth $1,953,000 after buying an additional 17,900 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Onity Group by 9,153.4% in the first quarter. Russell Investments Group Ltd. now owns 57,371 shares of the company’s stock worth $1,854,000 after buying an additional 56,751 shares in the last quarter. 70.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ONIT. Zacks Research downgraded shares of Onity Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 21st. B. Riley lifted their target price on shares of Onity Group from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, June 20th. Keefe, Bruyette & Woods lifted their target price on shares of Onity Group from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen raised shares of Onity Group from a “hold” rating to a “buy” rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Onity Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

Onity Group Price Performance

Shares of ONIT stock opened at $45.57 on Friday. The firm’s 50-day moving average is $39.84 and its two-hundred day moving average is $36.21. The company has a market capitalization of $367.03 million, a PE ratio of 11.62 and a beta of 1.44. Onity Group Inc. has a 12 month low of $25.50 and a 12 month high of $45.83. The company has a debt-to-equity ratio of 23.99, a current ratio of 37.90 and a quick ratio of 37.90.

Onity Group (NYSE:ONIT) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.21). The company had revenue of $246.60 million during the quarter, compared to analysts’ expectations of $252.90 million. Onity Group had a net margin of 3.74% and a return on equity of 18.99%. Analysts predict that Onity Group Inc. will post 10.51 earnings per share for the current year.

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.