OneMain (NYSE:OMF) Shares Gap Down – Here’s What Happened

OneMain Holdings, Inc. (NYSE:OMF)’s share price gapped down before the market opened on Friday . The stock had previously closed at $57.39, but opened at $55.50. OneMain shares last traded at $55.76, with a volume of 203,985 shares traded.

Analyst Ratings Changes

Several research firms recently issued reports on OMF. Compass Point raised their price objective on shares of OneMain from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays lowered shares of OneMain from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $52.00 to $46.00 in a research note on Tuesday, October 8th. Wells Fargo & Company increased their target price on shares of OneMain from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. StockNews.com lowered shares of OneMain from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $62.00 price objective on shares of OneMain in a research note on Thursday, January 16th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.69.

OneMain Stock Performance

The business’s 50-day moving average is $54.82 and its two-hundred day moving average is $50.85. The stock has a market capitalization of $6.69 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 0.50 and a beta of 1.58.

Insider Activity at OneMain

In related news, CEO Douglas H. Shulman sold 20,000 shares of OneMain stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $54.19, for a total value of $1,083,800.00. Following the transaction, the chief executive officer now directly owns 392,474 shares in the company, valued at $21,268,166.06. This trade represents a 4.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.45% of the stock is currently owned by insiders.

Institutional Investors Weigh In On OneMain

Institutional investors have recently made changes to their positions in the stock. Legend Financial Advisors Inc. purchased a new stake in shares of OneMain during the 4th quarter worth $26,000. FNY Investment Advisers LLC purchased a new stake in shares of OneMain during the 4th quarter worth $26,000. Albion Financial Group UT purchased a new stake in shares of OneMain during the 4th quarter worth $26,000. Continuum Advisory LLC purchased a new stake in shares of OneMain during the 3rd quarter worth $28,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of OneMain during the 4th quarter worth $44,000. 85.82% of the stock is currently owned by hedge funds and other institutional investors.

About OneMain

OneMain Holdings, Inc, a financial service holding company, engages in the consumer finance and insurance businesses in the United States. It originates, underwrites, and services personal loans secured by automobiles, other titled collateral, or unsecured. The company also offers credit cards; optional credit insurance products, including life, disability, and involuntary unemployment insurance; optional non-credit insurance; guaranteed asset protection coverage as a waiver product or insurance; and membership plans.