Onity Group (NYSE:ONIT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Onity Group (NYSE:ONIT) from a hold rating to a buy rating in a research note issued to investors on Saturday.

A number of other equities analysts also recently commented on ONIT. Weiss Ratings reissued a “hold (c)” rating on shares of Onity Group in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods raised shares of Onity Group from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Finally, BTIG Research boosted 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. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.33.

Onity Group Trading Up 1.2%

ONIT opened at $38.21 on Friday. The business has a fifty day moving average price of $44.91 and a 200 day moving average price of $42.77. 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 12 month low of $25.50 and a 12 month high of $54.10. The stock has a market capitalization of $325.51 million, a price-to-earnings ratio of 1.80 and a beta of 1.56.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC raised its position in shares of Onity Group by 60.3% during the 4th quarter. CWM LLC now owns 758 shares of the company’s stock worth $35,000 after acquiring an additional 285 shares in the last quarter. AlphaQuest LLC purchased a new stake in Onity Group during the third quarter worth approximately $77,000. State of Wyoming acquired a new position in Onity Group in the second quarter valued at approximately $119,000. BNP Paribas Financial Markets boosted 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 in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Onity Group in the second quarter valued at approximately $184,000. 70.16% of the stock is owned by institutional investors and hedge funds.

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.