Long Focus Capital Management LLC Invests $20.03 Million in Onity Group (NYSE:ONIT)

Long Focus Capital Management LLC acquired a new stake in shares of Onity Group (NYSE:ONIT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 652,088 shares of the company's stock, valued at approximately $20,026,000. Onity Group makes up 0.6% of Long Focus Capital Management LLC's portfolio, making the stock its 27th biggest position. Long Focus Capital Management LLC owned approximately 8.29% of Onity Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in Onity Group by 181.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,255 shares of the company's stock worth $551,000 after acquiring an additional 11,126 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Onity Group during the fourth quarter worth $1,377,000. Rhumbline Advisers bought a new stake in shares of Onity Group in the fourth quarter worth $313,000. New York State Common Retirement Fund acquired a new stake in Onity Group in the fourth quarter valued at $100,000. Finally, Bank of New York Mellon Corp acquired a new stake in Onity Group in the fourth quarter valued at $851,000. Institutional investors own 70.16% of the company's stock.

Onity Group Stock Up 4.3 %

Shares of NYSE ONIT opened at $30.61 on Wednesday. The company's 50 day moving average price is $30.99 and its 200-day moving average price is $31.72. 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 has a 52-week low of $22.40 and a 52-week high of $41.27. The company has a market capitalization of $240.99 million, a P/E ratio of 7.48 and a beta of 1.58.

Onity Group (NYSE:ONIT - Get Free Report) last released 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 net margin of 3.47% and a return on equity of 20.50%. The firm had revenue of $224.80 million during the quarter, compared to analyst estimates of $253.37 million. Equities analysts forecast that Onity Group will post 10.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, B. Riley upgraded Onity Group to a "strong-buy" rating in a research report on Tuesday, January 7th.

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.

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