Raymond James Financial Inc. Buys New Shares in Onity Group (NYSE:ONIT)

Raymond James Financial Inc. bought a new position in shares of Onity Group (NYSE:ONIT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 28,857 shares of the company's stock, valued at approximately $886,000. Raymond James Financial Inc. owned about 0.37% of Onity Group at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. New York State Common Retirement Fund acquired a new position in Onity Group during the fourth quarter worth $100,000. SBI Securities Co. Ltd. acquired a new position in shares of Onity Group during the 4th quarter valued at about $224,000. Rhumbline Advisers purchased a new stake in shares of Onity Group in the fourth quarter valued at about $313,000. JPMorgan Chase & Co. increased its position in Onity Group by 181.5% during the third quarter. JPMorgan Chase & Co. now owns 17,255 shares of the company's stock worth $551,000 after purchasing an additional 11,126 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. purchased a new position in Onity Group during the fourth quarter worth about $583,000. 70.16% of the stock is currently owned by hedge funds and other institutional investors.

Onity Group Trading Up 7.8 %

Shares of NYSE:ONIT traded up $2.19 during midday trading on Wednesday, reaching $30.19. 114,541 shares of the company's stock were exchanged, compared to its average volume of 35,513. The stock has a market cap of $237.69 million, a price-to-earnings ratio of 7.38 and a beta of 1.58. Onity Group has a fifty-two week low of $22.40 and a fifty-two week high of $41.27. The firm's 50 day simple moving average is $32.52 and its two-hundred day simple moving average is $31.77. 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 announced its quarterly earnings results on Thursday, February 13th. The company reported $1.39 earnings per share 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 for the quarter, compared to analyst estimates of $253.37 million. As a group, sell-side analysts forecast that Onity Group will post 10.51 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, B. Riley raised shares of Onity Group to a "strong-buy" rating in a research note 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.