Onity Group Inc. (NYSE:ONIT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Onity Group Inc. (NYSE:ONIT) has earned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $58.3333.

Several equities research analysts have recently commented on ONIT shares. Keefe, Bruyette & Woods raised Onity Group from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. BTIG Research upped their price target on Onity Group from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Wall Street Zen lowered Onity Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Onity Group in a report on Thursday, January 22nd.

Onity Group Stock Performance

ONIT stock opened at $39.38 on Monday. The company has a 50 day moving average price of $45.68 and a 200 day moving average price of $42.89. Onity Group has a fifty-two week low of $25.50 and a fifty-two week high of $54.10. The company has a debt-to-equity ratio of 18.86, a current ratio of 35.55 and a quick ratio of 35.55. The stock has a market capitalization of $335.52 million, a PE ratio of 1.86 and a beta of 1.56.

Institutional Investors Weigh In On Onity Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC boosted its position in shares of Onity Group by 60.3% during the fourth quarter. CWM LLC now owns 758 shares of the company’s stock worth $35,000 after purchasing an additional 285 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of Onity Group in the 3rd quarter valued at $77,000. State of Wyoming bought a new stake in shares of Onity Group in the 2nd quarter valued at $119,000. BNP Paribas Financial Markets raised its stake in Onity Group by 367.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,163 shares of the company’s stock worth $121,000 after buying an additional 2,486 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Onity Group during the 2nd quarter worth $184,000. 70.16% of the stock is owned by 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.