Onity Group (NYSE:ONIT) Rating Lowered to Hold at Wall Street Zen

Onity Group (NYSE:ONIT) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other analysts also recently issued reports on the stock. Keefe, Bruyette & Woods raised shares of Onity Group from a “moderate buy” rating to a “strong-buy” rating in a research 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 report on Thursday, February 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Onity Group in a report on Thursday, January 22nd. 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 company’s stock. According to MarketBeat, Onity Group presently has a consensus rating of “Moderate Buy” and an average price target of $58.33.

Onity Group Price Performance

Shares of NYSE ONIT opened at $42.05 on Friday. The company has a debt-to-equity ratio of 18.86, a current ratio of 35.55 and a quick ratio of 35.55. Onity Group has a 1-year low of $25.50 and a 1-year high of $54.10. The company has a market capitalization of $358.23 million, a price-to-earnings ratio of 1.99 and a beta of 1.56. The business has a 50-day moving average of $46.25 and a 200-day moving average of $42.77.

Hedge Funds Weigh In On Onity Group

Several large investors have recently added to or reduced their stakes in ONIT. CWM LLC boosted its holdings in 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. Cullen Frost Bankers Inc. raised its holdings in shares of Onity Group by 169.9% during the second quarter. Cullen Frost Bankers Inc. now owns 988 shares of the company’s stock worth $38,000 after purchasing an additional 622 shares during the period. AlphaQuest LLC bought a new position in shares of Onity Group in the 3rd quarter worth about $77,000. State of Wyoming acquired a new position in shares of Onity Group in the 2nd quarter valued at about $119,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Onity Group by 367.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,163 shares of the company’s stock valued at $121,000 after buying an additional 2,486 shares during the period. 70.16% of the stock is currently owned by institutional investors.

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.