Onity Group Inc. (NYSE:ONIT) Receives $57.67 Consensus Target Price from Brokerages

Shares of Onity Group Inc. (NYSE:ONIT) have been given an average rating of “Moderate Buy” by the six research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $54.3333.

ONIT has been the subject of several research analyst reports. Texas Capital upgraded Onity Group to a “strong-buy” rating in a research note on Wednesday, June 10th. Keefe, Bruyette & Woods reduced their price objective on Onity Group from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. BTIG Research reduced their price objective on Onity Group from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday. Wall Street Zen cut Onity Group from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Finally, Weiss Ratings cut Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th.

Onity Group Price Performance

Shares of ONIT stock opened at $38.07 on Wednesday. Onity Group has a 1-year low of $33.22 and a 1-year high of $54.10. The stock’s 50-day moving average is $39.46 and its 200 day moving average is $42.26. The company has a market cap of $320.97 million, a P/E ratio of 1.96 and a beta of 1.45. 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 (NYSE:ONIT) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($1.63). The company had revenue of $278.00 million for the quarter, compared to the consensus estimate of $290.10 million. Onity Group had a net margin of 15.75% and a return on equity of 9.10%.

Institutional Trading of Onity Group

Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC increased its position in shares of 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. AlphaQuest LLC purchased a new stake in shares of Onity Group in the third quarter valued at approximately $77,000. State of Wyoming acquired a new stake in shares of Onity Group in the second quarter worth approximately $119,000. BNP Paribas Financial Markets boosted its stake in shares of 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 acquiring an additional 2,486 shares during the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new stake in shares of Onity Group in the fourth quarter worth approximately $209,000. 70.16% of the stock is currently owned by hedge funds and other institutional investors.

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.