Onity Group (NYSE:ONIT) Upgraded at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Onity Group (NYSE:ONIT) from a moderate buy rating to a strong-buy rating in a research report released on Wednesday morning,Zacks.com reports.

ONIT has been the subject of a number of other reports. Wall Street Zen upgraded shares of Onity Group from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Onity Group in a report on Thursday, January 22nd. Finally, BTIG Research boosted their price objective on shares of Onity Group from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Onity Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.33.

Onity Group Trading Down 2.1%

Shares of NYSE:ONIT opened at $42.05 on Wednesday. The business’s 50-day moving average is $46.25 and its 200 day moving average is $42.73. The company has a debt-to-equity ratio of 18.86, a current ratio of 35.55 and a quick ratio of 38.90. Onity Group has a 1 year low of $25.50 and a 1 year high of $54.10. The firm has a market capitalization of $358.23 million, a P/E ratio of 1.99 and a beta of 1.56.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ONIT. Invesco Ltd. lifted its position in Onity Group by 16.5% during the fourth quarter. Invesco Ltd. now owns 10,606 shares of the company’s stock valued at $486,000 after purchasing an additional 1,499 shares during the period. Empowered Funds LLC lifted its holdings in shares of Onity Group by 6.5% in the 4th quarter. Empowered Funds LLC now owns 55,115 shares of the company’s stock valued at $2,524,000 after buying an additional 3,346 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Onity Group by 18.3% in the 4th quarter. Wellington Management Group LLP now owns 307,000 shares of the company’s stock valued at $14,058,000 after buying an additional 47,500 shares during the period. Oaktree Capital Management LP purchased a new stake in shares of Onity Group in the fourth quarter worth about $17,896,000. Finally, Millennium Management LLC acquired a new stake in Onity Group during the fourth quarter worth about $329,000. Hedge funds and other institutional investors own 70.16% of the company’s stock.

About Onity Group

Onity Group, listed on the New York Stock Exchange under the ticker ONIT, is a technology company specializing in enterprise operations management software. Its platform is designed to help legal, finance, human resources and corporate services teams automate and streamline mission-critical workflows. Leveraging artificial intelligence and no-code automation tools, Onity’s solutions aim to reduce manual processes, improve visibility and ensure compliance across complex organizational structures.

The company’s flagship offerings include contract lifecycle management, matter management, e-billing and spend management, as well as enterprise deal management.