Onity Group Inc. (NYSE:ONIT) Given Consensus Rating of “Moderate Buy” by Brokerages

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

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Onity Group from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. BTIG Research raised their price objective on shares of Onity Group from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Onity Group in a research 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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in Onity Group by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 439,058 shares of the company’s stock worth $20,105,000 after purchasing an additional 3,137 shares during the last quarter. Oaktree Capital Management LP purchased a new position in Onity Group during the 4th quarter worth $17,896,000. Vanguard Group Inc. grew its position in Onity Group by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 339,620 shares of the company’s stock worth $13,571,000 after purchasing an additional 3,473 shares during the last quarter. Wellington Management Group LLP grew its position in Onity Group by 18.3% during the 4th quarter. Wellington Management Group LLP now owns 307,000 shares of the company’s stock worth $14,058,000 after purchasing an additional 47,500 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. grew its position in Onity Group by 29.2% during the 4th quarter. Prescott Group Capital Management L.L.C. now owns 212,585 shares of the company’s stock worth $9,734,000 after purchasing an additional 47,992 shares during the last quarter. 70.16% of the stock is owned by hedge funds and other institutional investors.

Onity Group Price Performance

Shares of NYSE:ONIT opened at $45.13 on Tuesday. The company’s fifty day moving average price is $41.14 and its 200 day moving average price is $42.51. Onity Group has a 12 month low of $28.80 and a 12 month high of $54.10. The company has a debt-to-equity ratio of 18.86, a current ratio of 35.55 and a quick ratio of 35.55. The firm has a market capitalization of $385.37 million, a P/E ratio of 2.13 and a beta of 1.56.

Onity Group (NYSE:ONIT) last announced its quarterly earnings results on Thursday, February 12th. The company reported $14.24 EPS for the quarter, topping the consensus estimate of $2.46 by $11.78. Onity Group had a net margin of 17.76% and a return on equity of 15.84%. The firm had revenue of $280.00 million for the quarter, compared to analyst estimates of $285.60 million.

Onity Group Company Profile

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.