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

Zacks Investment Management bought a new position in Onity Group (NYSE:ONIT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 80,935 shares of the company’s stock, valued at approximately $2,486,000. Zacks Investment Management owned about 1.03% of Onity Group as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oaktree Capital Management LP bought a new stake in shares of Onity Group in the 4th quarter worth approximately $12,604,000. Prescott Group Capital Management L.L.C. bought a new stake in Onity Group in the fourth quarter valued at $4,686,000. Geode Capital Management LLC acquired a new position in shares of Onity Group during the fourth quarter valued at $4,163,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Onity Group during the fourth quarter worth about $2,770,000. Finally, Empowered Funds LLC acquired a new stake in shares of Onity Group in the 4th quarter worth about $1,377,000. 70.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, B. Riley raised shares of Onity Group to a “strong-buy” rating in a research note on Tuesday, January 7th.

Onity Group Stock Up 2.6 %

ONIT opened at $30.02 on Friday. The stock’s 50 day moving average price is $31.50 and its 200 day moving average price is $31.72. The company has a debt-to-equity ratio of 20.28, a current ratio of 26.46 and a quick ratio of 26.46. The stock has a market cap of $236.36 million, a P/E ratio of 7.34 and a beta of 1.58. Onity Group has a 12 month low of $22.40 and a 12 month high of $41.27.

Onity Group (NYSE:ONIT) 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 analyst estimates 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 predict that Onity Group will post 10.51 earnings per share 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.