Onity Group (NYSE:ONIT) Price Target Cut to $58.00 by Analysts at Keefe, Bruyette & Woods

Onity Group (NYSE:ONIT) had its price objective lowered by Keefe, Bruyette & Woods from $60.00 to $58.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen cut Onity Group from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings raised Onity Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 22nd. Finally, BTIG Research raised their target price on Onity Group from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $57.67.

Onity Group Price Performance

Shares of Onity Group stock opened at $38.94 on Friday. The business has a 50 day simple moving average of $41.35 and a two-hundred day simple moving average of $43.07. Onity Group has a 12 month low of $35.47 and a 12 month high of $54.10. The stock has a market capitalization of $328.25 million, a P/E ratio of 2.01 and a beta of 1.56. The company has a debt-to-equity ratio of 19.46, a current ratio of 46.07 and a quick ratio of 35.55.

Onity Group (NYSE:ONIT) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.74 EPS for the quarter, missing the consensus estimate of $2.37 by ($1.63). Onity Group had a net margin of 15.75% and a return on equity of 9.10%. The company had revenue of $278.00 million during the quarter, compared to analyst estimates of $290.10 million.

Institutional Trading of Onity Group

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

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.