Onity Group (NYSE:ONIT) Sees Significant Increase in Short Interest

Onity Group (NYSE:ONIT) saw a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 80,000 shares, a growth of 22.5% from the January 31st total of 65,300 shares. Based on an average trading volume of 46,200 shares, the days-to-cover ratio is currently 1.7 days. Currently, 1.2% of the shares of the company are sold short.

Onity Group Stock Performance

Shares of NYSE:ONIT traded up $0.19 during midday trading on Friday, reaching $30.93. 10,444 shares of the company traded hands, compared to its average volume of 48,889. The firm’s fifty day moving average price is $33.49 and its two-hundred day moving average price is $31.41. The firm has a market capitalization of $243.51 million, a price-to-earnings ratio of 7.56 and a beta of 1.98. The company has a quick ratio of 26.46, a current ratio of 26.46 and a debt-to-equity ratio of 20.28. Onity Group has a 12 month low of $22.40 and a 12 month high of $41.27.

Onity Group (NYSE:ONIT) last announced 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). Onity Group had a net margin of 3.47% and a return on equity of 20.50%. The company had revenue of $224.80 million for the quarter, compared to the consensus estimate of $253.37 million. On average, equities analysts expect that Onity Group will post 10.51 earnings per share for the current year.

Institutional Trading of Onity Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new position in shares of Onity Group during the 4th quarter valued at $84,000. Corebridge Financial Inc. purchased a new position in Onity Group during the fourth quarter worth about $98,000. New York State Common Retirement Fund bought a new position in Onity Group in the 4th quarter worth about $100,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Onity Group in the 4th quarter valued at about $115,000. Finally, Wells Fargo & Company MN purchased a new stake in shares of Onity Group in the 4th quarter valued at about $116,000. Institutional investors own 70.16% of the company’s stock.

Wall Street Analyst Weigh In

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