Onity Group (NYSE:ONIT) Sees Significant Increase in Short Interest

Onity Group (NYSE:ONIT - Get Free Report) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 42,800 shares, a growth of 30.9% from the September 15th total of 32,700 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average trading volume of 24,300 shares, the short-interest ratio is presently 1.8 days.

Onity Group Trading Down 1.5 %

Shares of ONIT traded down $0.46 during trading hours on Tuesday, hitting $29.78. 27,339 shares of the stock traded hands, compared to its average volume of 17,024. The firm has a fifty day simple moving average of $28.90. The company has a quick ratio of 24.04, a current ratio of 24.04 and a debt-to-equity ratio of 21.15. The stock has a market capitalization of $232.58 million, a price-to-earnings ratio of 56.19 and a beta of 1.84. Onity Group has a 1-year low of $21.15 and a 1-year high of $36.91.

Onity Group (NYSE:ONIT - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $4.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $2.70. The company had revenue of $246.40 million for the quarter, compared to analyst estimates of $273.64 million. Onity Group had a net margin of 0.16% and a return on equity of 15.54%. During the same quarter last year, the firm earned $1.04 EPS. As a group, equities research analysts expect that Onity Group will post 10.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ONIT shares. B. Riley upgraded shares of Onity Group to a "strong-buy" rating in a research report on Tuesday, August 13th. Keefe, Bruyette & Woods raised their price target on shares of Onity Group from $33.00 to $35.00 and gave the company an "outperform" rating in a report on Tuesday, August 6th.

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.