Onity Group (NYSE:ONIT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Onity Group (NYSE:ONIT) from a strong sell rating to a sell rating in a research report released on Saturday.

Several other research analysts have also weighed in on ONIT. BTIG Research dropped their price objective on Onity Group from $60.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. Weiss Ratings lowered Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Keefe, Bruyette & Woods decreased their target price on Onity Group from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Finally, Texas Capital upgraded Onity Group to a “strong-buy” rating in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Onity Group presently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

Onity Group Price Performance

Shares of NYSE ONIT opened at $40.02 on Friday. The company has a market capitalization of $337.49 million, a PE ratio of 2.06 and a beta of 1.43. The company has a quick ratio of 46.07, a current ratio of 46.07 and a debt-to-equity ratio of 19.46. Onity Group has a twelve month low of $33.22 and a twelve month high of $54.10. The firm has a fifty day simple moving average of $37.42 and a 200 day simple moving average of $41.07.

Onity Group (NYSE:ONIT) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($1.63). Onity Group had a net margin of 15.75% and a return on equity of 9.10%. The firm had revenue of $278.00 million for the quarter, compared to the consensus estimate of $290.10 million.

Institutional Investors Weigh In On Onity Group

A number of large investors have recently bought and sold shares of ONIT. Dimensional Fund Advisors LP raised its holdings in shares of Onity Group by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 464,448 shares of the company’s stock valued at $18,238,000 after purchasing an additional 25,390 shares during the period. Oaktree Capital Management LP acquired a new stake in shares of Onity Group in the 4th quarter valued at about $17,896,000. Vanguard Group Inc. grew its stake in shares of Onity Group by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 339,620 shares of the company’s stock valued at $13,571,000 after buying an additional 3,473 shares during the period. Wellington Management Group LLP grew its stake 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. Finally, Prescott Group Capital Management L.L.C. increased its position in Onity Group by 29.2% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 212,585 shares of the company’s stock valued at $9,734,000 after buying an additional 47,992 shares in the last quarter. 70.16% of the stock is currently 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.