Onity Group Inc. $ONIT Shares Bought by Acadian Asset Management LLC

Acadian Asset Management LLC boosted its holdings in shares of Onity Group Inc. (NYSE:ONIT) by 206.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,823 shares of the company’s stock after acquiring an additional 28,178 shares during the quarter. Acadian Asset Management LLC owned about 0.52% of Onity Group worth $1,351,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ONIT. Public Employees Retirement System of Ohio acquired a new stake in shares of Onity Group during the fourth quarter valued at about $84,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Onity Group by 40.7% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,331 shares of the company’s stock valued at $334,000 after acquiring an additional 2,988 shares during the last quarter. Empowered Funds LLC increased its position in shares of Onity Group by 7.1% during the first quarter. Empowered Funds LLC now owns 48,029 shares of the company’s stock valued at $1,552,000 after acquiring an additional 3,184 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Onity Group during the fourth quarter valued at about $115,000. Finally, GAMMA Investing LLC increased its holdings in Onity Group by 7,724.6% in the 1st quarter. GAMMA Investing LLC now owns 4,460 shares of the company’s stock valued at $138,000 after purchasing an additional 4,403 shares during the last quarter. 70.16% of the stock is owned by institutional investors and hedge funds.

Onity Group Trading Up 2.6%

ONIT opened at $43.81 on Thursday. Onity Group Inc. has a 12 month low of $25.50 and a 12 month high of $45.83. The stock has a market capitalization of $353.10 million, a price-to-earnings ratio of 11.18 and a beta of 1.44. The company has a debt-to-equity ratio of 23.99, a current ratio of 37.90 and a quick ratio of 37.90. The business has a fifty day moving average price of $40.14 and a 200 day moving average price of $36.44.

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

Analyst Upgrades and Downgrades

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

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.