Onity Group (NYSE:ONIT) Raised to Sell at Wall Street Zen

Onity Group (NYSE:ONIT) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

ONIT has been the subject of a number of other reports. Keefe, Bruyette & Woods cut their price target on Onity Group from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, August 12th. BTIG Research reduced 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. Finally, Weiss Ratings lowered shares of Onity Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Onity Group Trading Down 0.0%

Shares of ONIT opened at $25.58 on Friday. The stock has a fifty day moving average price of $32.69 and a two-hundred day moving average price of $36.83. The company has a debt-to-equity ratio of 11.41, a quick ratio of 16.60 and a current ratio of 16.60. Onity Group has a 52-week low of $25.08 and a 52-week high of $54.10. The company has a market cap of $213.59 million, a price-to-earnings ratio of 1.65 and a beta of 1.49.

Onity Group (NYSE:ONIT) last posted 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). The business had revenue of $281.00 million during the quarter, compared to analyst estimates of $272.45 million. Onity Group had a return on equity of 8.27% and a net margin of 12.34%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in shares of Onity Group in the 2nd quarter valued at $1,062,000. Dimensional Fund Advisors LP raised its position in shares of Onity Group by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 464,448 shares of the company’s stock worth $18,238,000 after acquiring an additional 25,390 shares during the last quarter. Gratia Capital LLC bought a new stake in shares of Onity Group during the second quarter worth $835,000. Bank of America Corp DE raised its position in shares of Onity Group by 120.4% during the first quarter. Bank of America Corp DE now owns 16,734 shares of the company’s stock worth $657,000 after acquiring an additional 9,142 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Onity Group during the first quarter valued at $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 primarily on residential mortgage servicing. Through its operating businesses, the company provides loan servicing and subservicing, including payment processing, borrower support, loss mitigation and other functions that help manage mortgage loans on behalf of loan owners and investors.

Onity also provides mortgage origination services through PHH Mortgage, serving borrowers who are purchasing or refinancing homes.