SBI Securities Co. Ltd. Purchases New Shares in Onity Group (NYSE:ONIT)

SBI Securities Co. Ltd. purchased a new stake in Onity Group (NYSE:ONIT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,300 shares of the company’s stock, valued at approximately $224,000. SBI Securities Co. Ltd. owned about 0.09% of Onity Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. New York State Common Retirement Fund bought a new position in Onity Group in the 4th quarter valued at $100,000. Rhumbline Advisers bought a new position in Onity Group in the 4th quarter valued at $313,000. JPMorgan Chase & Co. grew its stake in Onity Group by 181.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,255 shares of the company’s stock valued at $551,000 after purchasing an additional 11,126 shares during the period. Bank of New York Mellon Corp bought a new position in Onity Group in the 4th quarter valued at $851,000. Finally, Empowered Funds LLC bought a new position in Onity Group in the 4th quarter valued at $1,377,000. 70.16% of the stock is owned by hedge funds and other institutional investors.

Onity Group Stock Up 0.2 %

ONIT stock opened at $30.29 on Thursday. 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 company has a market capitalization of $238.47 million, a price-to-earnings ratio of 7.41 and a beta of 1.98. Onity Group has a fifty-two week low of $22.40 and a fifty-two week high of $41.27. The stock has a fifty day moving average of $33.49 and a 200-day moving average of $31.41.

Onity Group (NYSE:ONIT) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.39 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.95). The firm had revenue of $224.80 million for the quarter, compared to the consensus estimate of $253.37 million. Onity Group had a return on equity of 20.50% and a net margin of 3.47%. As a group, equities research analysts predict that Onity Group will post 10.51 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ONIT shares. BTIG Research upgraded Onity Group from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Monday, December 9th. Keefe, Bruyette & Woods upped their price objective on Onity Group from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, B. Riley upgraded Onity Group to a “strong-buy” rating in a research note on Tuesday, January 7th.

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.