Onity Group (NYSE:ONIT) Price Target Cut to $45.00 by Analysts at BTIG Research

Onity Group (NYSE:ONIT) had its price objective trimmed by BTIG Research from $50.00 to $45.00 in a report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

ONIT has been the subject of a number of other reports. Wall Street Zen lowered Onity Group from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Keefe, Bruyette & Woods lowered their target price on Onity Group from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 12th. Finally, Weiss Ratings downgraded Onity Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $50.00.

Onity Group Trading Up 2.3%

Onity Group stock opened at $27.22 on Monday. The company has a quick ratio of 16.60, a current ratio of 16.60 and a debt-to-equity ratio of 11.41. The firm has a 50-day moving average price of $33.64 and a two-hundred day moving average price of $37.17. The firm has a market capitalization of $227.28 million, a price-to-earnings ratio of 1.76 and a beta of 1.49. Onity Group has a 52-week low of $25.50 and a 52-week high of $54.10.

Onity Group (NYSE:ONIT) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($1.53) EPS for the quarter, missing the consensus estimate of $0.95 by ($2.48). The firm had revenue of $281.00 million during the quarter, compared to analyst estimates of $272.45 million. Onity Group had a net margin of 12.34% and a return on equity of 8.27%.

Hedge Funds Weigh In On Onity Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new position in Onity Group during the 2nd quarter valued at about $1,062,000. Dimensional Fund Advisors LP raised its position in shares of Onity Group by 5.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 464,448 shares of the company’s stock worth $18,238,000 after buying an additional 25,390 shares in the last quarter. Gratia Capital LLC bought a new stake in shares of Onity Group during the 2nd quarter worth about $835,000. Bank of America Corp DE lifted its stake in shares of Onity Group by 120.4% in the 1st quarter. Bank of America Corp DE now owns 16,734 shares of the company’s stock worth $657,000 after acquiring an additional 9,142 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Onity Group in the 1st quarter worth approximately $357,000. Institutional investors own 70.16% of the company’s stock.

Onity Group Company Profile

Onity Group Inc (NYSE: ONIT), formerly known as Ocwen Financial Corporation, is a financial services company focused primarily on residential mortgage servicing. Through its operating businesses, the company provides loan servicing and subservicing, including payment processing, borrower support, loss mitigation and other functions that help manage mortgage loans on behalf of loan owners and investors.

Onity also provides mortgage origination services through PHH Mortgage, serving borrowers who are purchasing or refinancing homes.