Onity Group Inc. (NYSE:ONIT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Onity Group Inc. (NYSE:ONIT) have been given an average recommendation of “Moderate Buy” by the five brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $54.00.

Several brokerages have weighed in on ONIT. Weiss Ratings cut shares of Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Keefe, Bruyette & Woods lowered their target price on shares of Onity Group from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, May 8th. BTIG Research dropped their price target on shares of Onity Group from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, June 16th. Texas Capital upgraded shares of Onity Group to a “strong-buy” rating in a research report on Wednesday, June 10th. Finally, Wall Street Zen cut Onity Group from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th.

Onity Group Stock Performance

ONIT stock traded up $0.49 during trading hours on Friday, hitting $38.75. 37,991 shares of the stock were exchanged, compared to its average volume of 72,077. The company has a current ratio of 46.07, a quick ratio of 46.07 and a debt-to-equity ratio of 19.46. The firm has a market capitalization of $326.67 million, a P/E ratio of 2.00 and a beta of 1.43. The company has a 50-day simple moving average of $37.08 and a two-hundred day simple moving average of $41.46. Onity Group has a 12 month low of $33.22 and a 12 month high of $54.10.

Onity Group (NYSE:ONIT) last announced its earnings results on Tuesday, May 5th. The company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.37 by ($1.63). Onity Group had a net margin of 15.75% and a return on equity of 9.10%. The business had revenue of $278.00 million during the quarter, compared to the consensus estimate of $290.10 million.

Institutional Trading of Onity Group

A number of institutional investors have recently modified their holdings of ONIT. CWM LLC increased its position in shares of Onity Group by 60.3% in the fourth quarter. CWM LLC now owns 758 shares of the company’s stock worth $35,000 after purchasing an additional 285 shares during the period. State of Wyoming bought a new stake in Onity Group during the second quarter worth about $119,000. BNP Paribas Financial Markets grew its stake in Onity Group by 367.2% during the second quarter. BNP Paribas Financial Markets now owns 3,163 shares of the company’s stock worth $121,000 after buying an additional 2,486 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Onity Group during the second quarter worth about $184,000. Finally, Bank of America Corp DE increased its holdings in Onity Group by 23.2% in the 3rd quarter. Bank of America Corp DE now owns 5,027 shares of the company’s stock valued at $201,000 after buying an additional 945 shares during the period. 70.16% of the stock is currently owned by institutional investors.

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.