Onity Group Inc. (NYSE:ONIT) Receives $57.67 Average PT from Analysts

Onity Group Inc. (NYSE:ONIT) has been assigned a consensus rating of “Hold” from the five ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $57.6667.

ONIT has been the topic of several analyst reports. Wall Street Zen lowered shares of Onity Group from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. BTIG Research increased their price objective on shares of Onity Group from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Weiss Ratings lowered shares of Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Onity Group from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th.

Hedge Funds Weigh In On Onity Group

Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of Onity Group by 5.8% in the first 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 bought a new position in shares of Onity Group in the fourth quarter valued at about $17,896,000. Vanguard Group Inc. raised its position in shares of Onity Group by 1.0% in the third 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 raised its position in shares of Onity Group by 18.3% in the fourth 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. raised its position in shares of 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 valued at $9,734,000 after purchasing an additional 47,992 shares during the period. 70.16% of the stock is owned by institutional investors.

Onity Group Stock Performance

NYSE ONIT opened at $34.52 on Friday. 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’s fifty day moving average price is $40.27 and its two-hundred day moving average price is $42.90. Onity Group has a 1 year low of $33.80 and a 1 year high of $54.10. The firm has a market capitalization of $290.96 million, a P/E ratio of 1.78 and a beta of 1.56.

Onity Group (NYSE:ONIT) last posted 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.

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.