Onity Group (NYSE:ONIT) Upgraded at Keefe, Bruyette & Woods

Onity Group (NYSE:ONIT) was upgraded by research analysts at Keefe, Bruyette & Woods from a “moderate buy” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on ONIT. Weiss Ratings reissued a “hold (c)” rating on shares of Onity Group in a report on Thursday, January 22nd. Wall Street Zen raised Onity Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Finally, BTIG Research increased their price objective on Onity Group from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $58.33.

Onity Group Stock Performance

ONIT opened at $42.94 on Wednesday. The company has a market cap of $365.84 million, a P/E ratio of 2.03 and a beta of 1.56. The company has a quick ratio of 38.90, a current ratio of 35.55 and a debt-to-equity ratio of 18.86. The firm’s 50-day moving average price is $46.30 and its 200-day moving average price is $42.70. Onity Group has a 52-week low of $25.50 and a 52-week high of $54.10.

Institutional Investors Weigh In On Onity Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC increased its holdings in Onity Group by 60.3% in the fourth quarter. CWM LLC now owns 758 shares of the company’s stock valued at $35,000 after buying an additional 285 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of Onity Group by 169.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 988 shares of the company’s stock valued at $38,000 after purchasing an additional 622 shares in the last quarter. AlphaQuest LLC acquired a new position in Onity Group in the 3rd quarter worth about $77,000. State of Wyoming purchased a new position in Onity Group during the second quarter worth approximately $119,000. Finally, BNP Paribas Financial Markets grew its holdings in Onity Group by 367.2% in the second quarter. BNP Paribas Financial Markets now owns 3,163 shares of the company’s stock valued at $121,000 after purchasing an additional 2,486 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.