MetLife Investment Management LLC Buys Shares of 3,824 Onity Group (NYSE:ONIT)

MetLife Investment Management LLC purchased a new position in shares of Onity Group (NYSE:ONIT) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 3,824 shares of the company’s stock, valued at approximately $117,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oaktree Capital Management LP purchased a new stake in shares of Onity Group in the fourth quarter valued at about $12,604,000. Dimensional Fund Advisors LP acquired a new position in shares of Onity Group during the 4th quarter worth approximately $12,178,000. Prescott Group Capital Management L.L.C. purchased a new stake in Onity Group in the 4th quarter valued at approximately $4,686,000. Geode Capital Management LLC purchased a new position in Onity Group during the fourth quarter worth $4,163,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Onity Group during the 4th quarter worth about $2,770,000. 70.16% of the stock is owned by institutional investors and hedge funds.

Onity Group Price Performance

Shares of ONIT stock opened at $37.80 on Friday. The firm has a fifty day simple moving average of $31.82 and a 200-day simple moving average of $32.20. The company has a market capitalization of $302.74 million, a PE ratio of 9.24 and a beta of 1.89. Onity Group has a twelve month low of $22.40 and a twelve month high of $41.27. 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 (NYSE:ONIT) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $1.05. Onity Group had a return on equity of 20.50% and a net margin of 3.47%. The firm had revenue of $249.80 million during the quarter, compared to the consensus estimate of $244.63 million. Equities research analysts anticipate that Onity Group will post 10.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ONIT has been the topic of several analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Onity Group from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday. BTIG Research reissued a “buy” rating on shares of Onity Group in a research note on Monday.

Onity Group 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.