Bank of New York Mellon Corp Buys Shares of 27,702 Onity Group (NYSE:ONIT)

Bank of New York Mellon Corp acquired a new stake in Onity Group (NYSE:ONIT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 27,702 shares of the company's stock, valued at approximately $851,000. Bank of New York Mellon Corp owned about 0.35% of Onity Group at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Onity Group by 181.5% during the third quarter. JPMorgan Chase & Co. now owns 17,255 shares of the company's stock worth $551,000 after purchasing an additional 11,126 shares during the period. Empowered Funds LLC purchased a new stake in shares of Onity Group during the 4th quarter valued at approximately $1,377,000. Rhumbline Advisers bought a new position in Onity Group in the 4th quarter worth approximately $313,000. Finally, New York State Common Retirement Fund bought a new position in Onity Group in the 4th quarter worth approximately $100,000. 70.16% of the stock is owned by institutional investors.

Onity Group Price Performance

Shares of Onity Group stock traded down $1.11 on Friday, reaching $31.36. The stock had a trading volume of 20,613 shares, compared to its average volume of 33,584. The business's 50 day moving average is $33.67 and its two-hundred day moving average is $31.73. The company has a current ratio of 26.46, a quick ratio of 26.46 and a debt-to-equity ratio of 20.28. Onity Group has a 1 year low of $22.40 and a 1 year high of $41.27. The company has a market cap of $246.90 million, a P/E ratio of 7.67 and a beta of 1.98.

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

Wall Street Analysts Forecast Growth

ONIT has been the topic of a number of analyst reports. B. Riley raised shares of Onity Group to a "strong-buy" rating in a report on Tuesday, January 7th. BTIG Research upgraded Onity Group from a "neutral" rating to a "buy" rating and set a $40.00 price target for the company in a research report on Monday, December 9th.

Onity Group Company Profile

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.