Onity Group Inc. (NYSE:ONIT) Receives $57.50 Average Price Target from Analysts

Shares of Onity Group Inc. (NYSE:ONIT) have been assigned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $57.50.

ONIT has been the topic of several research analyst reports. Wall Street Zen raised shares of Onity Group from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Onity Group in a research note on Thursday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Onity Group in a research note on Wednesday, October 8th.

Institutional Investors Weigh In On Onity Group

Institutional investors have recently added to or reduced their stakes in the company. Long Focus Capital Management LLC lifted its stake in shares of Onity Group by 3.8% in the 1st quarter. Long Focus Capital Management LLC now owns 677,088 shares of the company’s stock valued at $21,883,000 after purchasing an additional 25,000 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Onity Group by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 435,921 shares of the company’s stock valued at $17,420,000 after buying an additional 5,766 shares during the period. 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 buying an additional 3,473 shares during the period. Wellington Management Group LLP acquired a new position in Onity Group during the third quarter valued at approximately $10,370,000. Finally, Geode Capital Management LLC grew its stake in Onity Group by 6.3% during the second quarter. Geode Capital Management LLC now owns 148,257 shares of the company’s stock worth $5,660,000 after buying an additional 8,748 shares during the period. Hedge funds and other institutional investors own 70.16% of the company’s stock.

Onity Group Price Performance

Shares of NYSE:ONIT opened at $44.78 on Wednesday. The company has a market cap of $360.89 million, a P/E ratio of 13.57 and a beta of 1.63. The business has a fifty day simple moving average of $41.25 and a 200-day simple moving average of $40.01. Onity Group has a 52 week low of $25.50 and a 52 week high of $45.83. The company has a quick ratio of 38.90, a current ratio of 38.90 and a debt-to-equity ratio of 22.41.

Onity Group (NYSE:ONIT) last issued its quarterly earnings results on Thursday, November 6th. The company reported $3.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $1.52. The firm had revenue of $265.00 million for the quarter, compared to analyst estimates of $257.77 million. Onity Group had a return on equity of 17.81% and a net margin of 3.41%. Equities research analysts forecast that Onity Group will post 10.51 EPS for the current year.

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.