Onity Group (NYSE:ONIT) Rating Increased to Buy at Wall Street Zen

Onity Group (NYSE:ONIT) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.

A number of other research analysts have also recently commented on ONIT. Zacks Research cut shares of Onity Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 21st. Keefe, Bruyette & Woods lifted their target price on shares of Onity Group from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Onity Group in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $51.67.

Onity Group Trading Up 0.7%

NYSE ONIT opened at $43.10 on Friday. The company has a quick ratio of 37.90, a current ratio of 37.90 and a debt-to-equity ratio of 23.99. The stock’s 50-day simple moving average is $39.80 and its two-hundred day simple moving average is $38.94. Onity Group has a twelve month low of $25.50 and a twelve month high of $45.83. The company has a market capitalization of $347.32 million, a price-to-earnings ratio of 10.99 and a beta of 1.53.

Onity Group (NYSE:ONIT) last announced its quarterly earnings data on Thursday, November 6th. The company reported $3.44 EPS for the quarter, beating the consensus estimate of $1.92 by $1.52. The firm had revenue of $62.30 million for the quarter, compared to analyst estimates of $257.77 million. Onity Group had a return on equity of 18.99% and a net margin of 3.74%. Research analysts forecast that Onity Group will post 10.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Onity Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in Onity Group by 139.9% during the first quarter. American Century Companies Inc. now owns 75,025 shares of the company’s stock worth $2,425,000 after acquiring an additional 43,755 shares in the last quarter. Long Focus Capital Management LLC lifted its holdings in shares of Onity Group by 3.8% during the first quarter. Long Focus Capital Management LLC now owns 677,088 shares of the company’s stock valued at $21,883,000 after purchasing an additional 25,000 shares during the last quarter. Nuveen LLC bought a new stake in shares of Onity Group in the 1st quarter worth approximately $443,000. Russell Investments Group Ltd. grew its stake in shares of Onity Group by 9,153.4% in the 1st 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 during the last quarter. Finally, Acadian Asset Management LLC increased its position in Onity Group by 206.5% during the 1st quarter. Acadian Asset Management LLC now owns 41,823 shares of the company’s stock valued at $1,351,000 after buying an additional 28,178 shares in the last quarter. Hedge funds and other institutional investors own 70.16% of the company’s stock.

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.