Onity Group (NYSE:ONIT) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Onity Group (NYSE:ONIT) from a buy rating to a hold rating in a report released on Saturday morning.

A number of other research analysts also recently issued reports on ONIT. Weiss Ratings reiterated a “hold (c)” rating on shares of Onity Group in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Onity Group in a research report on Thursday, December 18th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $57.50.

Onity Group Trading Up 1.0%

NYSE:ONIT opened at $44.62 on Friday. Onity Group has a 12-month low of $25.50 and a 12-month high of $45.83. The firm has a market cap of $359.64 million, a PE ratio of 13.52 and a beta of 1.63. The company has a current ratio of 38.90, a quick ratio of 38.90 and a debt-to-equity ratio of 22.41. The stock has a fifty day moving average price of $42.09 and a 200 day moving average price of $40.30.

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

Institutional Trading of Onity Group

A number of hedge funds and other institutional investors have recently made changes to their positions in ONIT. Long Focus Capital Management LLC boosted its position 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 during the period. Dimensional Fund Advisors LP increased its position in Onity Group by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 435,921 shares of the company’s stock worth $17,420,000 after buying an additional 5,766 shares during the period. Vanguard Group Inc. lifted its stake 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 last quarter. Wellington Management Group LLP purchased a new stake in Onity Group in the third quarter valued at approximately $10,370,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Onity Group by 6.3% in the second quarter. Geode Capital Management LLC now owns 148,257 shares of the company’s stock valued at $5,660,000 after acquiring an additional 8,748 shares during the period. Institutional investors and hedge funds own 70.16% of the company’s stock.

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.