Zacks Investment Management Takes Position in Onity Group (NYSE:ONIT)

Zacks Investment Management purchased a new stake in shares of Onity Group (NYSE:ONIT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 80,935 shares of the company's stock, valued at approximately $2,486,000. Zacks Investment Management owned approximately 1.03% of Onity Group at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased 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 purchasing an additional 11,126 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Onity Group during the 4th quarter valued at approximately $1,377,000. Rhumbline Advisers purchased a new position in Onity Group in the fourth quarter valued at approximately $313,000. New York State Common Retirement Fund purchased a new stake in Onity Group in the fourth quarter worth $100,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Onity Group in the fourth quarter valued at $851,000. 70.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, B. Riley upgraded Onity Group to a "strong-buy" rating in a research note on Tuesday, January 7th.

Onity Group Price Performance

NYSE:ONIT traded up $1.02 during midday trading on Wednesday, hitting $31.49. The company had a trading volume of 11,857 shares, compared to its average volume of 35,262. The stock's fifty day moving average price is $30.99 and its 200-day moving average price is $31.72. Onity Group has a 52-week low of $22.40 and a 52-week high of $41.27. The company has a quick ratio of 26.46, a current ratio of 26.46 and a debt-to-equity ratio of 20.28. The company has a market capitalization of $247.92 million, a PE ratio of 7.70 and a beta of 1.58.

Onity Group (NYSE:ONIT - Get Free Report) last issued 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). The business had revenue of $224.80 million for the quarter, compared to the consensus estimate of $253.37 million. Onity Group had a net margin of 3.47% and a return on equity of 20.50%. As a group, research analysts expect that Onity Group will post 10.51 earnings per share for the current year.

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.