Onity Group (NYSE:ONIT) Stock Price Up 4.3% - Here's Why

Onity Group (NYSE:ONIT - Get Free Report)'s stock price was up 4.3% on Tuesday . The stock traded as high as $35.60 and last traded at $35.42. Approximately 91,306 shares traded hands during trading, an increase of 96% from the average daily volume of 46,667 shares. The stock had previously closed at $33.95.

Analyst Ratings Changes

A number of equities research analysts have commented on ONIT shares. BTIG Research raised Onity Group from a "neutral" rating to a "buy" rating and set a $40.00 price target on the stock in a report on Monday, December 9th. B. Riley raised Onity Group to a "strong-buy" rating in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upped their target price on Onity Group from $40.00 to $45.00 and gave the company an "outperform" rating in a research note on Tuesday, November 12th.

Onity Group Stock Down 2.1 %

The company has a debt-to-equity ratio of 20.28, a quick ratio of 26.46 and a current ratio of 26.46. The stock has a market cap of $273.49 million, a PE ratio of 23.01 and a beta of 1.86. The company's 50 day simple moving average is $31.42.

Hedge Funds Weigh In On Onity Group

An institutional investor recently raised its position in Onity Group stock. JPMorgan Chase & Co. grew its stake in shares of Onity Group (NYSE:ONIT - Free Report) by 181.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,255 shares of the company's stock after acquiring an additional 11,126 shares during the quarter. JPMorgan Chase & Co. owned about 0.22% of Onity Group worth $551,000 as of its most recent SEC filing. Institutional investors and hedge funds own 70.16% of the company's stock.

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.