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

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

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

Onity Group Stock Down 1.2%

Shares of NYSE:ONIT opened at $28.61 on Monday. The company has a debt-to-equity ratio of 11.41, a quick ratio of 16.60 and a current ratio of 16.60. The company has a market cap of $238.94 million, a PE ratio of 5.44 and a beta of 1.48. Onity Group has a 52 week low of $24.86 and a 52 week high of $54.10. The firm has a 50 day simple moving average of $30.12 and a 200 day simple moving average of $37.76.

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). Onity Group had a return on equity of 8.27% and a net margin of 12.34%. The firm had revenue of $281.00 million during the quarter, compared to analyst estimates of $272.45 million.

Institutional Investors Weigh In On Onity Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prescott Group Capital Management L.L.C. grew its holdings in shares of Onity Group by 7.7% during the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 228,991 shares of the company’s stock valued at $6,487,000 after acquiring an additional 16,406 shares in the last quarter. Gratia Capital LLC acquired a new position in shares of Onity Group in the second quarter worth $835,000. Pale Fire Capital SE raised its holdings in shares of Onity Group by 20.3% during the second quarter. Pale Fire Capital SE now owns 11,833 shares of the company’s stock worth $470,000 after acquiring an additional 2,000 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Onity Group during the second quarter worth $1,062,000. Finally, Bank of America Corp DE raised its holdings 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 in the last quarter. Hedge funds and other institutional investors own 70.16% of the company’s stock.

Onity Group Company Profile

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.