Empowered Funds LLC Buys Shares of 44,845 Onity Group (NYSE:ONIT)

Empowered Funds LLC purchased a new stake in Onity Group (NYSE:ONIT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 44,845 shares of the company's stock, valued at approximately $1,377,000. Empowered Funds LLC owned approximately 0.57% of Onity Group as of its most recent SEC filing.

Separately, JPMorgan Chase & Co. boosted its position in Onity Group by 181.5% in the third quarter. JPMorgan Chase & Co. now owns 17,255 shares of the company's stock valued at $551,000 after buying an additional 11,126 shares in the last quarter. 70.16% of the stock is owned by hedge funds and other institutional investors.

Onity Group Price Performance

Shares of ONIT stock traded down $0.20 during trading hours on Wednesday, reaching $33.22. 39,327 shares of the company were exchanged, compared to its average volume of 50,345. Onity Group has a fifty-two week low of $22.40 and a fifty-two week high of $41.27. The stock's fifty day moving average is $33.56 and its two-hundred day moving average is $31.03. The company has a market cap of $261.45 million, a price-to-earnings ratio of 8.12 and a beta of 1.87. The company has a debt-to-equity ratio of 20.28, a current ratio of 26.46 and a quick ratio of 26.46.

Onity Group (NYSE:ONIT - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.39 earnings per share for the quarter, missing analysts' consensus estimates of $2.34 by ($0.95). The business had revenue of $224.80 million for the quarter, compared to the consensus estimate of $253.37 million. Onity Group had a return on equity of 20.50% and a net margin of 3.47%. Sell-side analysts forecast that Onity Group will post 10.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

ONIT has been the topic of a number of recent analyst reports. B. Riley upgraded shares of Onity Group to a "strong-buy" rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods upped their target price on shares of Onity Group from $40.00 to $45.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 12th. Finally, BTIG Research upgraded shares of Onity Group from a "neutral" rating to a "buy" rating and set a $40.00 target price on the stock in a research report on Monday, December 9th.

About Onity Group

Onity Group Inc, a financial services company, originates and services mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines. It operates through, Servicing and Originations segments. The company provides commercial forward mortgage loan servicing, reverse mortgage servicing, special servicing, and asset management services for to owners of mortgage loans and foreclosed real estate, as well as residential mortgage loan servicing, such as forward and reverse conventional, government-insured, and non-agency loans, including the reverse mortgage loans classified as loans.