Onity Group (NYSE:ONIT) Short Interest Update

Onity Group (NYSE:ONIT) saw a large growth in short interest in February. As of February 15th, there was short interest totalling 80,000 shares, a growth of 22.5% from the January 31st total of 65,300 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average daily volume of 46,200 shares, the short-interest ratio is presently 1.7 days.

Analyst Upgrades and Downgrades

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

Institutional Trading of Onity Group

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

Onity Group Stock Down 1.0 %

ONIT stock opened at $30.27 on Wednesday. The firm has a market capitalization of $238.29 million, a PE ratio of 7.40 and a beta of 1.98. The company has a current ratio of 26.46, a quick ratio of 26.46 and a debt-to-equity ratio of 20.28. Onity Group has a 1-year low of $22.40 and a 1-year high of $41.27. The business’s 50 day simple moving average is $33.50 and its 200 day simple moving average is $31.42.

Onity Group (NYSE:ONIT) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $253.37 million. Onity Group had a return on equity of 20.50% and a net margin of 3.47%. As a group, research analysts anticipate that Onity Group will post 10.51 EPS for the current 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.