Onity Group (NYSE:ONIT) Upgraded at Wall Street Zen

Onity Group (NYSE:ONIT) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

ONIT has been the subject of a number of other research reports. Keefe, Bruyette & Woods raised shares of Onity Group from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Onity Group in a research report on Thursday, January 22nd. Finally, BTIG Research lifted their price objective on Onity Group from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Onity Group presently has an average rating of “Moderate Buy” and a consensus target price of $58.33.

Onity Group Price Performance

NYSE ONIT opened at $37.72 on Friday. The company has a current ratio of 35.55, a quick ratio of 35.55 and a debt-to-equity ratio of 18.86. The company has a fifty day simple moving average of $45.03 and a 200 day simple moving average of $42.79. The company has a market cap of $321.40 million, a P/E ratio of 1.78 and a beta of 1.56. Onity Group has a 1 year low of $25.50 and a 1 year high of $54.10.

Institutional Trading of Onity Group

Hedge funds have recently bought and sold shares of the stock. CWM LLC grew its position in Onity Group by 60.3% in the 4th quarter. CWM LLC now owns 758 shares of the company’s stock worth $35,000 after purchasing an additional 285 shares during the last quarter. State Street Corp raised its position in shares of Onity Group by 0.3% during the fourth quarter. State Street Corp now owns 128,906 shares of the company’s stock valued at $5,903,000 after buying an additional 362 shares during the last quarter. First Trust Advisors LP raised its position in shares of Onity Group by 2.5% during the fourth quarter. First Trust Advisors LP now owns 20,128 shares of the company’s stock valued at $922,000 after buying an additional 498 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Onity Group by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 150,832 shares of the company’s stock valued at $6,908,000 after buying an additional 837 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Onity Group by 23.2% in the third quarter. Bank of America Corp DE now owns 5,027 shares of the company’s stock valued at $201,000 after buying an additional 945 shares during the period. 70.16% of the stock is owned by institutional investors.

About Onity Group

Onity Group, listed on the New York Stock Exchange under the ticker ONIT, is a technology company specializing in enterprise operations management software. Its platform is designed to help legal, finance, human resources and corporate services teams automate and streamline mission-critical workflows. Leveraging artificial intelligence and no-code automation tools, Onity’s solutions aim to reduce manual processes, improve visibility and ensure compliance across complex organizational structures.

The company’s flagship offerings include contract lifecycle management, matter management, e-billing and spend management, as well as enterprise deal management.