Charles Schwab Investment Management Inc. Takes Position in Onity Group (NYSE:ONIT)

Charles Schwab Investment Management Inc. acquired a new position in shares of Onity Group (NYSE:ONIT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 18,986 shares of the company's stock, valued at approximately $583,000. Charles Schwab Investment Management Inc. owned 0.24% of Onity Group as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. New York State Common Retirement Fund acquired a new stake in shares of Onity Group during the fourth quarter worth about $100,000. SBI Securities Co. Ltd. purchased a new position in Onity Group in the 4th quarter valued at approximately $224,000. Rhumbline Advisers purchased a new position in Onity Group in the 4th quarter valued at approximately $313,000. JPMorgan Chase & Co. grew its stake in shares of Onity Group by 181.5% in the third quarter. JPMorgan Chase & Co. now owns 17,255 shares of the company's stock worth $551,000 after acquiring an additional 11,126 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Onity Group during the fourth quarter worth $851,000. Institutional investors and hedge funds own 70.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ONIT. B. Riley upgraded 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 objective for the company in a research note on Monday, December 9th.

Onity Group Stock Down 8.3 %

Shares of NYSE:ONIT traded down $2.46 during trading hours on Friday, reaching $27.37. The stock had a trading volume of 79,808 shares, compared to its average volume of 33,936. The stock has a market capitalization of $215.47 million, a price-to-earnings ratio of 6.69 and a beta of 1.58. The firm's 50 day moving average is $33.26 and its 200-day moving average is $31.80. Onity Group has a 1 year low of $22.40 and a 1 year high of $41.27. The company has a debt-to-equity ratio of 20.28, a quick ratio of 26.46 and a current ratio of 26.46.

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

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.