Onity Group Inc. (NYSE:ONIT) Receives $58.33 Average PT from Analysts

Shares of Onity Group Inc. (NYSE:ONIT) have earned an average recommendation of “Moderate Buy” from the five research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $58.3333.

A number of research analysts have recently issued reports on ONIT shares. BTIG Research boosted their price objective on Onity Group from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Wall Street Zen downgraded Onity Group from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Weiss Ratings restated a “hold (c)” rating on shares of Onity Group in a report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods raised shares of Onity Group from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, February 18th.

Hedge Funds Weigh In On Onity Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC grew its stake in shares of Onity Group by 60.3% in the 4th quarter. CWM LLC now owns 758 shares of the company’s stock valued at $35,000 after buying an additional 285 shares during the period. AlphaQuest LLC bought a new position in Onity Group in the third quarter worth approximately $77,000. State of Wyoming acquired a new stake in Onity Group in the second quarter valued at approximately $119,000. BNP Paribas Financial Markets increased its holdings in shares of Onity Group by 367.2% during the second quarter. BNP Paribas Financial Markets now owns 3,163 shares of the company’s stock valued at $121,000 after acquiring an additional 2,486 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Onity Group during the second quarter worth approximately $184,000. Institutional investors own 70.16% of the company’s stock.

Onity Group Price Performance

ONIT stock opened at $41.16 on Monday. The company has a quick ratio of 35.55, a current ratio of 35.55 and a debt-to-equity ratio of 18.86. The firm has a market cap of $350.68 million, a price-to-earnings ratio of 1.94 and a beta of 1.56. The company’s fifty day simple moving average is $45.82 and its 200 day simple moving average is $42.86. Onity Group has a 12-month low of $25.50 and a 12-month high of $54.10.

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.