Dimensional Fund Advisors LP Invests $12.18 Million in Onity Group (NYSE:ONIT)

Dimensional Fund Advisors LP acquired a new stake in Onity Group (NYSE:ONIT) in the fourth quarter, Holdings Channel reports. The firm acquired 396,558 shares of the company’s stock, valued at approximately $12,178,000. Dimensional Fund Advisors LP owned 0.05% of Onity Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Corebridge Financial Inc. acquired a new stake in shares of Onity Group in the fourth quarter valued at about $98,000. New York State Common Retirement Fund bought a new stake in Onity Group in the fourth quarter valued at approximately $100,000. Wells Fargo & Company MN acquired a new stake in Onity Group during the 4th quarter valued at approximately $116,000. SBI Securities Co. Ltd. bought a new position in Onity Group during the 4th quarter worth approximately $224,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Onity Group in the 4th quarter worth approximately $226,000. 70.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ONIT. BTIG Research reiterated a “buy” rating on shares of Onity Group in a research report on Monday. Keefe, Bruyette & Woods increased their price target on Onity Group from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday.

Onity Group Price Performance

Shares of ONIT opened at $37.80 on Friday. The firm has a market cap of $302.74 million, a PE ratio of 9.24 and a beta of 1.89. Onity Group has a 52-week low of $22.40 and a 52-week high of $41.27. The company has a debt-to-equity ratio of 20.28, a quick ratio of 26.46 and a current ratio of 26.46. The business’s 50 day moving average price is $31.82 and its two-hundred day moving average price is $32.20.

Onity Group (NYSE:ONIT) last issued its earnings results on Wednesday, April 30th. The company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $1.05. The business had revenue of $249.80 million for the quarter, compared to analyst estimates of $244.63 million. Onity Group had a net margin of 3.47% and a return on equity of 20.50%. On average, equities 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.