Onity Group (NYSE:ONIT) Upgraded by Wall Street Zen to “Sell” Rating

Wall Street Zen upgraded shares of Onity Group (NYSE:ONIT) from a strong sell rating to a sell rating in a research note released on Saturday.

Other equities analysts have also issued reports about the company. Keefe, Bruyette & Woods reduced their price target on Onity Group from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Texas Capital upgraded shares of Onity Group to a “strong-buy” rating in a research note on Wednesday, June 10th. Weiss Ratings lowered shares of Onity Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Finally, BTIG Research reduced their target price on shares of Onity Group from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Onity Group presently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Onity Group Trading Up 1.6%

NYSE:ONIT opened at $39.41 on Friday. The business’s 50-day moving average is $37.33 and its two-hundred day moving average is $41.13. The company has a debt-to-equity ratio of 19.46, a current ratio of 46.07 and a quick ratio of 46.07. Onity Group has a 12 month low of $33.22 and a 12 month high of $54.10. The firm has a market capitalization of $332.27 million, a PE ratio of 2.03 and a beta of 1.43.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ONIT. Prescott Group Capital Management L.L.C. boosted its holdings in Onity Group by 29.2% in the fourth quarter. Prescott Group Capital Management L.L.C. now owns 212,585 shares of the company’s stock valued at $9,734,000 after purchasing an additional 47,992 shares during the last quarter. CWM LLC increased its holdings in Onity Group by 60.3% during the 4th quarter. CWM LLC now owns 758 shares of the company’s stock worth $35,000 after purchasing an additional 285 shares during the last quarter. Brandywine Global Investment Management LLC purchased a new stake in Onity Group during the 4th quarter worth approximately $209,000. Bank of America Corp DE raised its position in shares of Onity Group by 23.2% in the 3rd quarter. Bank of America Corp DE now owns 5,027 shares of the company’s stock valued at $201,000 after purchasing an additional 945 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Onity Group by 367.2% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 70.16% of the company’s stock.

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.