Onity Group (NYSE:ONIT) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Onity Group (NYSE:ONIT) from a strong sell rating to a sell rating in a report published on Monday morning,Wall Street Zen reports.

Several other equities research analysts have also recently commented on ONIT. BTIG Research cut their price target on shares of Onity Group from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Weiss Ratings downgraded shares of Onity Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, October 21st. Finally, Keefe, Bruyette & Woods decreased their price objective on Onity Group from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, August 12th. One investment 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

Onity Group Price Performance

NYSE ONIT opened at $28.98 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. Onity Group has a 12-month low of $24.86 and a 12-month high of $54.10. The company has a market capitalization of $242.02 million, a PE ratio of 5.12 and a beta of 1.49. The firm’s 50 day moving average is $30.27 and its 200-day moving average is $37.88.

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

Institutional Investors Weigh In On Onity Group

Several large investors have recently made changes to their positions in ONIT. Quantinno Capital Management LP lifted its stake in Onity Group by 3.3% in the first quarter. Quantinno Capital Management LP now owns 15,254 shares of the company’s stock valued at $599,000 after acquiring an additional 491 shares during the last quarter. First Trust Advisors LP grew its position in shares of Onity Group by 6.4% in the 1st quarter. First Trust Advisors LP now owns 21,408 shares of the company’s stock valued at $841,000 after acquiring an additional 1,280 shares during the period. Pale Fire Capital SE grew its position in shares of Onity Group by 20.3% in the 2nd quarter. Pale Fire Capital SE now owns 11,833 shares of the company’s stock valued at $470,000 after acquiring an additional 2,000 shares during the period. State of Wyoming acquired a new position in shares of Onity Group during the 1st quarter worth about $126,000. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Onity Group during the 1st quarter worth about $357,000. Institutional investors and hedge funds own 70.16% of the company’s stock.

About Onity Group

Onity Group Inc (NYSE: ONIT), formerly known as Ocwen Financial Corporation, is a financial services company focused on residential mortgage loan servicing and origination. The company works with mortgage investors, lenders, financial institutions and government-sponsored entities to manage home loans throughout their life cycle.

Through its servicing operations, Onity provides payment processing, borrower assistance, default management, foreclosure prevention and other administrative services for residential mortgages.