Onity Group (NYSE:ONIT) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Onity Group (NYSE:ONIT) from a hold rating to a sell rating in a report issued on Sunday morning.

Several other research analysts have also issued reports on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Onity Group from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Friday. BTIG Research raised their price target on shares of Onity Group from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Finally, Weiss Ratings lowered shares of Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Onity Group currently has a consensus rating of “Hold” and a consensus target price of $57.67.

Onity Group Stock Up 0.1%

Onity Group stock opened at $38.94 on Friday. The company has a debt-to-equity ratio of 19.46, a quick ratio of 46.07 and a current ratio of 46.07. Onity Group has a 52-week low of $35.47 and a 52-week high of $54.10. The firm has a 50 day moving average price of $41.35 and a two-hundred day moving average price of $43.07. The firm has a market cap of $328.25 million, a price-to-earnings ratio of 2.01 and a beta of 1.56.

Onity Group (NYSE:ONIT) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $290.10 million.

Institutional Trading of Onity Group

Several hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in Onity Group by 5.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 464,448 shares of the company’s stock valued at $18,238,000 after purchasing an additional 25,390 shares during the period. Oaktree Capital Management LP acquired a new stake in Onity Group in the 4th quarter valued at $17,896,000. Vanguard Group Inc. grew its position in Onity Group by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 339,620 shares of the company’s stock valued at $13,571,000 after purchasing an additional 3,473 shares during the period. Wellington Management Group LLP grew its position in Onity Group by 18.3% in the 4th quarter. Wellington Management Group LLP now owns 307,000 shares of the company’s stock valued at $14,058,000 after purchasing an additional 47,500 shares during the period. Finally, Prescott Group Capital Management L.L.C. grew its position in Onity Group by 29.2% in 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 purchasing an additional 47,992 shares during the period. Institutional investors and hedge funds own 70.16% of the company’s stock.

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.