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

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

A number of other research analysts also recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Onity Group in a research note on Thursday, January 22nd. BTIG Research raised their price target on Onity Group from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Finally, Keefe, Bruyette & Woods raised Onity Group from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. One research 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.33.

Onity Group Trading Down 1.1%

NYSE ONIT opened at $37.72 on Friday. Onity Group has a 1-year low of $25.50 and a 1-year high of $54.10. The company has a current ratio of 35.55, a quick ratio of 35.55 and a debt-to-equity ratio of 18.86. The company has a market capitalization of $321.40 million, a PE ratio of 1.78 and a beta of 1.56. The firm’s fifty day simple moving average is $45.03 and its 200-day simple moving average is $42.79.

Hedge Funds Weigh In On Onity Group

Several hedge funds have recently bought and sold shares of ONIT. CWM LLC lifted its position in shares of Onity Group by 60.3% in the fourth quarter. CWM LLC now owns 758 shares of the company’s stock worth $35,000 after buying an additional 285 shares during the last quarter. AlphaQuest LLC bought a new stake in shares of Onity Group during the 3rd quarter worth about $77,000. State of Wyoming acquired a new position in shares of Onity Group during the 2nd quarter valued at about $119,000. BNP Paribas Financial Markets increased its holdings in shares of Onity Group by 367.2% during the 2nd 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 during the last quarter. Finally, Brandywine Global Investment Management LLC bought a new position in shares of Onity Group in the 4th quarter valued at approximately $209,000. 70.16% of the stock is owned by institutional investors and hedge funds.

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.