Oaktree Capital Management LP Invests $12.60 Million in Onity Group (NYSE:ONIT)

Oaktree Capital Management LP bought a new position in shares of Onity Group (NYSE:ONIT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 410,429 shares of the company's stock, valued at approximately $12,604,000. Oaktree Capital Management LP owned about 5.22% of Onity Group as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings 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 during the last quarter. Empowered Funds LLC acquired a new stake in Onity Group in the fourth quarter valued at approximately $1,377,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Onity Group during the fourth quarter worth $583,000. Rhumbline Advisers acquired a new position in shares of Onity Group during the fourth quarter worth $313,000. Finally, New York State Common Retirement Fund bought a new position in shares of Onity Group in the 4th quarter valued at $100,000. 70.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ONIT shares. BTIG Research upgraded Onity Group from a "neutral" rating to a "buy" rating and set a $40.00 price objective on the stock in a research report on Monday, December 9th. B. Riley upgraded Onity Group to a "strong-buy" rating in a report on Tuesday, January 7th.

Onity Group Trading Down 3.7 %

Shares of Onity Group stock traded down $1.18 during trading on Thursday, hitting $31.02. The company's stock had a trading volume of 24,070 shares, compared to its average volume of 33,468. The stock has a market cap of $244.22 million, a price-to-earnings ratio of 7.58 and a beta of 1.58. Onity Group has a 52 week low of $22.40 and a 52 week high of $41.27. The stock has a 50-day moving average price of $33.53 and a two-hundred day moving average price of $31.81. 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 released its quarterly earnings results on Thursday, February 13th. The company reported $1.39 EPS for the quarter, missing analysts' consensus estimates of $2.34 by ($0.95). Onity Group had a net margin of 3.47% and a return on equity of 20.50%. The company had revenue of $224.80 million during the quarter, compared to the consensus estimate of $253.37 million. Equities research analysts anticipate that Onity Group will post 10.51 EPS for the current fiscal year.

Onity Group 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.