Onity Group Inc. (NYSE:ONIT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Onity Group Inc. (NYSE:ONIT) have earned a consensus rating of “Moderate Buy” from the five research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $58.3333.

A number of brokerages recently commented on ONIT. Keefe, Bruyette & Woods upgraded shares of Onity Group from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. BTIG Research upped their target price on Onity Group from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Onity Group in a research note on Thursday, January 22nd. Finally, Wall Street Zen downgraded Onity Group from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st.

Institutional Investors Weigh In On Onity Group

A number of institutional investors have recently modified their holdings of the business. Oaktree Capital Management LP acquired a new position in shares of Onity Group in the fourth quarter valued at about $17,896,000. Wellington Management Group LLP bought a new stake in Onity Group in the 3rd quarter valued at about $10,370,000. JPMorgan Chase & Co. boosted its holdings in Onity Group by 585.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 128,210 shares of the company’s stock valued at $4,894,000 after purchasing an additional 109,498 shares during the period. Franklin Resources Inc. acquired a new position in shares of Onity Group during the 3rd quarter worth approximately $2,742,000. Finally, Prescott Group Capital Management L.L.C. grew its position in shares of 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 worth $9,734,000 after purchasing an additional 47,992 shares in the last quarter. Institutional investors own 70.16% of the company’s stock.

Onity Group Stock Performance

NYSE ONIT opened at $41.88 on Monday. The firm has a 50-day moving average of $45.93 and a 200-day moving average of $42.85. The company has a debt-to-equity ratio of 18.86, a quick ratio of 35.55 and a current ratio of 35.55. The stock has a market cap of $356.83 million, a PE ratio of 1.98 and a beta of 1.56. Onity Group has a 52-week low of $25.50 and a 52-week high of $54.10.

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.