Brokerages Set Onity Group Inc. (NYSE:ONIT) PT at $58.33

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

A number of equities analysts have issued reports on ONIT shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Onity Group in a report on Thursday, January 22nd. Keefe, Bruyette & Woods upgraded shares of Onity Group from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, February 18th. BTIG Research raised their price target on shares of Onity Group from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Finally, Wall Street Zen upgraded shares of Onity Group from a “hold” rating to a “buy” rating in a report on Saturday, March 14th.

Hedge Funds Weigh In On Onity Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Empowered Funds LLC grew its holdings in shares of Onity Group by 7.1% in the first quarter. Empowered Funds LLC now owns 48,029 shares of the company’s stock valued at $1,552,000 after acquiring an additional 3,184 shares in the last quarter. Jane Street Group LLC bought a new stake in Onity Group during the first quarter worth $256,000. Geode Capital Management LLC boosted its position in Onity Group by 6.3% in the second quarter. Geode Capital Management LLC now owns 148,257 shares of the company’s stock worth $5,660,000 after purchasing an additional 8,748 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Onity Group by 585.2% in the second quarter. JPMorgan Chase & Co. now owns 128,210 shares of the company’s stock worth $4,894,000 after purchasing an additional 109,498 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Onity Group by 46.8% in the 2nd quarter. American Century Companies Inc. now owns 110,147 shares of the company’s stock valued at $4,204,000 after purchasing an additional 35,122 shares during the period. Hedge funds and other institutional investors own 70.16% of the company’s stock.

Onity Group Stock Up 2.4%

ONIT stock opened at $39.45 on Friday. Onity Group has a twelve month low of $25.50 and a twelve month high of $54.10. The company has a quick ratio of 35.55, a current ratio of 35.55 and a debt-to-equity ratio of 18.86. The stock’s 50 day moving average is $42.30 and its 200-day moving average is $42.41. The firm has a market capitalization of $336.13 million, a PE ratio of 1.86 and a beta of 1.56.

Onity Group (NYSE:ONIT) last announced its quarterly earnings results on Thursday, February 12th. The company reported $14.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $11.78. The business had revenue of $280.00 million during the quarter, compared to the consensus estimate of $285.60 million. Onity Group had a return on equity of 15.84% and a net margin of 17.76%. Sell-side analysts expect that Onity Group will post 10.51 EPS for the current fiscal year.

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.