Onity Group (NYSE:ONIT) Raised to Sell at Wall Street Zen

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

Several other analysts also recently issued reports on ONIT. BTIG Research lowered their price target on Onity Group from $60.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, June 16th. Keefe, Bruyette & Woods reduced their price objective on Onity Group from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Texas Capital raised Onity Group to a “strong-buy” rating in a research report on Wednesday, June 10th. Finally, Weiss Ratings lowered Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Onity Group Price Performance

ONIT opened at $39.41 on Friday. Onity Group has a 52-week low of $33.22 and a 52-week high of $54.10. The company has a 50 day moving average of $37.33 and a two-hundred day moving average of $41.11. The company has a market cap of $332.27 million, a P/E ratio of 2.03 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 (NYSE:ONIT) last issued its 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). The business had revenue of $278.00 million during the quarter, compared to analysts’ expectations of $290.10 million. Onity Group had a net margin of 15.75% and a return on equity of 9.10%.

Hedge Funds Weigh In On Onity Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position 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 worth $18,238,000 after buying an additional 25,390 shares in the last quarter. Oaktree Capital Management LP acquired a new stake in Onity Group in the fourth quarter valued at $17,896,000. Vanguard Group Inc. raised its holdings in Onity Group by 1.0% in the third quarter. Vanguard Group Inc. now owns 339,620 shares of the company’s stock valued at $13,571,000 after acquiring an additional 3,473 shares in the last quarter. Wellington Management Group LLP boosted its stake in Onity Group by 18.3% during the 4th quarter. Wellington Management Group LLP now owns 307,000 shares of the company’s stock valued at $14,058,000 after acquiring an additional 47,500 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. boosted its stake 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 valued at $9,734,000 after acquiring an additional 47,992 shares during the last quarter. 70.16% of the stock is currently owned by hedge funds and other institutional investors.

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.