Corsair Capital Management L.P. Sells 15,000 Shares of Onity Group Inc. $ONIT

Corsair Capital Management L.P. decreased its position in Onity Group Inc. (NYSE:ONIT) by 55.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,003 shares of the company’s stock after selling 15,000 shares during the quarter. Corsair Capital Management L.P.’s holdings in Onity Group were worth $471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Prescott Group Capital Management L.L.C. increased its position in Onity Group by 29.2% in the fourth 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 during the last quarter. Engineers Gate Manager LP bought a new position in Onity Group during the fourth quarter valued at $331,000. Invesco Ltd. purchased a new position in shares of Onity Group in the 2nd quarter worth $283,000. Jane Street Group LLC purchased a new position in shares of Onity Group in the 1st quarter worth $256,000. Finally, Brevan Howard Capital Management LP bought a new stake in shares of Onity Group in the 3rd quarter worth about $220,000. 70.16% of the stock is owned by hedge funds and other institutional investors.

Onity Group Stock Performance

Shares of NYSE:ONIT opened at $39.41 on Monday. The company has a current ratio of 46.07, a quick ratio of 46.07 and a debt-to-equity ratio of 19.46. Onity Group Inc. has a 12 month low of $33.22 and a 12 month high of $54.10. The company has a market capitalization of $332.27 million, a price-to-earnings ratio of 2.03 and a beta of 1.43. The firm’s 50-day moving average is $37.33 and its 200 day moving average is $41.11.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ONIT shares. Wall Street Zen upgraded shares of Onity Group from a “strong sell” rating to a “sell” rating in a research report on Saturday. Keefe, Bruyette & Woods dropped their target price on Onity Group from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Texas Capital raised Onity Group to a “strong-buy” rating in a research report on Wednesday, June 10th. BTIG Research decreased their price target on Onity Group from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, June 16th. Finally, Weiss Ratings downgraded Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

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.