44,845 Shares in Onity Group (NYSE:ONIT) Acquired by Empowered Funds LLC

Empowered Funds LLC acquired a new stake in Onity Group (NYSE:ONIT) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 44,845 shares of the company’s stock, valued at approximately $1,377,000. Empowered Funds LLC owned approximately 0.57% of Onity Group at the end of the most recent reporting period.

Separately, JPMorgan Chase & Co. raised its position in shares of Onity Group by 181.5% in the third quarter. JPMorgan Chase & Co. now owns 17,255 shares of the company’s stock valued at $551,000 after buying an additional 11,126 shares in the last quarter. Hedge funds and other institutional investors own 70.16% of the company’s stock.

Onity Group Stock Performance

NYSE ONIT opened at $35.76 on Monday. The firm’s 50 day simple moving average is $33.52 and its 200 day simple moving average is $30.91. The firm has a market capitalization of $281.43 million, a price-to-earnings ratio of 23.68 and a beta of 1.87. 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.

Onity Group (NYSE:ONIT) last issued its 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 1.41% and a return on equity of 21.05%. The business had revenue of $224.80 million during the quarter, compared to analyst estimates of $253.37 million.

Analyst Upgrades and Downgrades

ONIT has been the topic of a number of analyst reports. Keefe, Bruyette & Woods increased their price target on Onity Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. BTIG Research raised Onity Group from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Monday, December 9th. Finally, B. Riley raised 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.