BTIG Research Has Lowered Expectations for Onity Group (NYSE:ONIT) Stock Price

by · The Markets Daily

Onity Group (NYSE:ONIT – Get Free Report) had its price objective cut by research analysts at BTIG Research from $50.00 to $45.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective would suggest a potential upside of 67.97% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. Weiss Ratings cut Onity Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, September 18th. Wall Street Zen lowered Onity Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Finally, Keefe, Bruyette & Woods lowered their target price on Onity Group from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 12th. One 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Get Our Latest Analysis on ONIT

Onity Group Price Performance

ONIT stock opened at $26.79 on Monday. The company has a debt-to-equity ratio of 11.41, a current ratio of 16.60 and a quick ratio of 16.60. The company’s 50-day moving average is $33.41 and its 200-day moving average is $37.09. The stock has a market capitalization of $223.70 million, a PE ratio of 5.08 and a beta of 1.49. Onity Group has a 1 year low of $25.50 and a 1 year high of $54.10.

Onity Group (NYSE:ONIT – Get Free Report) last issued its earnings results 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 net margin of 12.34% and a return on equity of 8.27%. The firm had revenue of $281.00 million during the quarter, compared to the consensus estimate of $272.45 million.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ONIT. Gratia Capital LLC bought a new position in Onity Group in the 2nd quarter valued at about $835,000. Dimensional Fund Advisors LP boosted its stake in Onity Group by 5.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 464,448 shares of the company’s stock valued at $18,238,000 after purchasing an additional 25,390 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Onity Group during the 2nd quarter valued at about $1,062,000. Pale Fire Capital SE increased its holdings in Onity Group by 20.3% during the 2nd quarter. Pale Fire Capital SE now owns 11,833 shares of the company’s stock worth $470,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Hillsdale Investment Management Inc. bought a new stake in Onity Group during the 1st quarter worth approximately $357,000. 70.16% of the stock is currently owned by institutional investors and hedge funds.

Onity Group Company Profile

(Get Free Report)

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.

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