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

Onity Group (NYSE:ONIT - Get Free Report) was the recipient of a large increase in short interest in February. As of February 15th, there was short interest totalling 80,000 shares, an increase of 22.5% from the January 31st total of 65,300 shares. Based on an average daily volume of 46,200 shares, the days-to-cover ratio is currently 1.7 days. Currently, 1.2% of the company's shares are sold short.

Onity Group Stock Up 0.1 %

NYSE ONIT traded up $0.02 on Friday, reaching $30.76. The company had a trading volume of 21,848 shares, compared to its average volume of 49,153. The firm has a market capitalization of $242.14 million, a PE ratio of 7.52 and a beta of 1.98. Onity Group has a 1 year low of $22.40 and a 1 year high of $41.27. The firm has a 50-day moving average of $33.50 and a 200-day moving average of $31.43. 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 earnings results on Thursday, February 13th. The company reported $1.39 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.95). The business had revenue of $224.80 million for the quarter, compared to analysts' expectations of $253.37 million. Onity Group had a net margin of 3.47% and a return on equity of 20.50%. On average, equities research analysts anticipate that Onity Group will post 10.51 EPS for the current fiscal year.

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Hedge Funds Weigh In On Onity Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio purchased a new position in shares of Onity Group during the 4th quarter valued at approximately $84,000. Corebridge Financial Inc. purchased a new position in shares of Onity Group during the 4th quarter valued at approximately $98,000. New York State Common Retirement Fund acquired a new stake in shares of Onity Group during the 4th quarter valued at approximately $100,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Onity Group during the 4th quarter valued at approximately $115,000. Finally, Wells Fargo & Company MN acquired a new stake in shares of Onity Group during the 4th quarter valued at approximately $116,000. 70.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.