Onity Group Inc. (NYSE:ONIT) Receives Consensus Rating of “Hold” from Brokerages

Shares of Onity Group Inc. (NYSE:ONIT) have earned an average rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $57.6667.

A number of research firms have recently weighed in on ONIT. Wall Street Zen downgraded shares of Onity Group from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Weiss Ratings downgraded shares of Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Keefe, Bruyette & Woods dropped their price target on shares of Onity Group from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Finally, BTIG Research upped their price target on shares of Onity Group from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th.

Onity Group Trading Up 0.4%

NYSE:ONIT opened at $34.60 on Friday. The company has a debt-to-equity ratio of 19.46, a current ratio of 46.07 and a quick ratio of 46.07. Onity Group has a fifty-two week low of $34.30 and a fifty-two week high of $54.10. The stock’s 50-day moving average is $40.44 and its two-hundred day moving average is $42.97. The stock has a market cap of $291.68 million, a PE ratio of 1.78 and a beta of 1.56.

Onity Group (NYSE:ONIT) last released its earnings results on Tuesday, May 5th. The company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($1.63). Onity Group had a net margin of 15.75% and a return on equity of 9.10%. The business had revenue of $278.00 million for the quarter, compared to analysts’ expectations of $290.10 million.

Hedge Funds Weigh In On Onity Group

Hedge funds have recently modified their holdings of the stock. CWM LLC increased its stake in shares of Onity Group by 60.3% in the fourth quarter. CWM LLC now owns 758 shares of the company’s stock worth $35,000 after acquiring an additional 285 shares during the last quarter. AlphaQuest LLC bought a new stake in Onity Group in the third quarter worth $77,000. State of Wyoming bought a new stake in Onity Group in the second quarter worth $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 worth $121,000 after purchasing an additional 2,486 shares in the last quarter. Finally, Brandywine Global Investment Management LLC bought a new stake in Onity Group in the fourth quarter worth $209,000. 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.