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 report report published on Saturday morning.

A number of other brokerages also recently commented on ONIT. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Onity Group in a research report on Thursday, December 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Onity Group in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Onity Group presently has an average rating of “Hold” and an average price target of $57.50.

Onity Group Price Performance

Shares of NYSE ONIT opened at $52.96 on Friday. The stock has a fifty day moving average price of $45.13 and a 200 day moving average price of $41.45. Onity Group has a 1-year low of $25.50 and a 1-year high of $54.10. The company has a debt-to-equity ratio of 22.41, a current ratio of 38.90 and a quick ratio of 38.90. The company has a market cap of $426.82 million, a PE ratio of 16.05 and a beta of 1.59.

Onity Group (NYSE:ONIT) last announced its quarterly earnings data on Thursday, November 6th. The company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $1.52. The company had revenue of $265.00 million during the quarter, compared to the consensus estimate of $257.77 million. Onity Group had a net margin of 3.41% and a return on equity of 17.81%. Sell-side analysts forecast that Onity Group will post 10.51 EPS for the current year.

Institutional Trading of Onity Group

Several large investors have recently bought and sold shares of the company. Wellington Management Group LLP purchased a new position in shares of Onity Group in the third quarter valued at $10,370,000. JPMorgan Chase & Co. increased its holdings in Onity Group by 585.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 128,210 shares of the company’s stock valued at $4,894,000 after acquiring an additional 109,498 shares in the last quarter. Franklin Resources Inc. acquired a new position in Onity Group during the third quarter worth about $2,742,000. American Century Companies Inc. raised its position in Onity Group by 46.8% during the second quarter. American Century Companies Inc. now owns 110,147 shares of the company’s stock worth $4,204,000 after acquiring an additional 35,122 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Onity Group by 36.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 86,790 shares of the company’s stock valued at $3,313,000 after purchasing an additional 22,980 shares in the last quarter. Institutional investors and hedge funds own 70.16% of the company’s stock.

Onity Group Company Profile

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.