Onity Group Inc. (NYSE:ONIT) Receives $57.67 Average Price Target from Brokerages

Shares of Onity Group Inc. (NYSE:ONIT) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $57.6667.

ONIT has been the subject of several recent research reports. Texas Capital upgraded Onity Group to a “strong-buy” rating in a report on Wednesday. Weiss Ratings downgraded Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Keefe, Bruyette & Woods reduced their price objective on Onity Group from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Finally, Wall Street Zen downgraded Onity Group from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Prescott Group Capital Management L.L.C. lifted 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 valued at $9,734,000 after buying an additional 47,992 shares during the last quarter. CWM LLC boosted its stake in Onity Group by 60.3% in the 4th quarter. CWM LLC now owns 758 shares of the company’s stock worth $35,000 after purchasing an additional 285 shares during the period. AlphaQuest LLC bought a new position in Onity Group in the 3rd quarter worth about $77,000. BNP Paribas Financial Markets boosted its stake in Onity Group by 367.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,163 shares of the company’s stock worth $121,000 after purchasing an additional 2,486 shares during the period. Finally, State of Wyoming bought a new position in Onity Group in the 2nd quarter worth about $119,000. Institutional investors own 70.16% of the company’s stock.

Onity Group Trading Down 1.3%

NYSE ONIT opened at $36.71 on Wednesday. The company has a market cap of $309.47 million, a price-to-earnings ratio of 1.89 and a beta of 1.45. Onity Group has a 52 week low of $33.22 and a 52 week high of $54.10. The business has a 50 day moving average price of $39.55 and a 200-day moving average price of $42.37. 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 released its quarterly earnings data on Tuesday, May 5th. The company reported $0.74 EPS for the quarter, missing the consensus estimate of $2.37 by ($1.63). The firm had revenue of $278.00 million for the quarter, compared to the consensus estimate of $290.10 million. Onity Group had a net margin of 15.75% and a return on equity of 9.10%.

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.