Prescott Group Capital Management L.L.C. Takes Position in Onity Group (NYSE:ONIT)

Prescott Group Capital Management L.L.C. bought a new position in Onity Group (NYSE:ONIT - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 152,593 shares of the company's stock, valued at approximately $4,686,000. Prescott Group Capital Management L.L.C. owned approximately 1.94% of Onity Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ONIT. Empowered Funds LLC purchased a new stake in Onity Group in the 4th quarter worth approximately $1,377,000. Raymond James Financial Inc. purchased a new stake in shares of Onity Group during the 4th quarter valued at $886,000. Bank of New York Mellon Corp purchased a new stake in shares of Onity Group during the 4th quarter valued at $851,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Onity Group during the 4th quarter valued at $583,000. Finally, JPMorgan Chase & Co. raised its position in shares of Onity Group by 181.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,255 shares of the company's stock valued at $551,000 after buying an additional 11,126 shares in the last quarter. 70.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ONIT. BTIG Research upgraded shares of 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 shares of Onity Group to a "strong-buy" rating in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Onity Group from $40.00 to $45.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 12th.

Remove Ads

Onity Group Trading Up 0.1 %

Onity Group stock traded up $0.02 during trading hours on Friday, reaching $30.76. The stock had a trading volume of 21,848 shares, compared to its average volume of 49,153. The stock has a market cap of $242.14 million, a PE ratio of 7.52 and a beta of 1.98. Onity Group has a 52 week low of $22.40 and a 52 week high of $41.27. The company has a debt-to-equity ratio of 20.28, a current ratio of 26.46 and a quick ratio of 26.46. The company has a fifty day simple moving average of $33.50 and a 200-day simple moving average of $31.43.

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

About Onity Group

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.