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

Onity Group Inc. (NYSE:ONIT) has received an average recommendation of “Hold” from the five analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target 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. Weiss Ratings lowered shares of Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Wall Street Zen lowered shares of Onity Group from a “hold” rating to a “sell” rating in a research report on Sunday, May 10th. BTIG Research boosted their price objective on shares of Onity Group from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Onity Group from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, May 8th.

Institutional Investors Weigh In On Onity Group

Institutional investors have recently bought and sold shares of the stock. CWM LLC grew its holdings in 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 purchasing an additional 285 shares during the period. AlphaQuest LLC purchased a new stake in Onity Group in the third quarter valued at approximately $77,000. State of Wyoming purchased a new stake in Onity Group in the second quarter valued at approximately $119,000. BNP Paribas Financial Markets grew 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 valued at $121,000 after purchasing an additional 2,486 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Onity Group in the second quarter valued at approximately $184,000. 70.16% of the stock is currently owned by hedge funds and other institutional investors.

Onity Group Stock Performance

NYSE:ONIT opened at $36.70 on Wednesday. The firm has a 50 day simple moving average of $39.68 and a 200-day simple moving average of $42.49. The company has a debt-to-equity ratio of 19.46, a current ratio of 46.07 and a quick ratio of 46.07. The firm has a market cap of $309.36 million, a PE ratio of 1.89 and a beta of 1.45. Onity Group has a 1-year low of $33.22 and a 1-year high of $54.10.

Onity Group (NYSE:ONIT) last posted 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 firm had revenue of $278.00 million during the quarter, compared to analyst estimates of $290.10 million. Onity Group had a net margin of 15.75% and a return on equity of 9.10%.

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.