152,593 Shares in Onity Group (NYSE:ONIT) Purchased by Prescott Group Capital Management L.L.C.

Prescott Group Capital Management L.L.C. acquired a new stake in Onity Group (NYSE:ONIT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 152,593 shares of the company’s stock, valued at approximately $4,686,000.

Other institutional investors also recently added to or reduced their stakes in the company. New York State Common Retirement Fund purchased a new position in shares of Onity Group in the 4th quarter valued at about $100,000. SBI Securities Co. Ltd. acquired a new position in Onity Group during the fourth quarter worth about $224,000. Rhumbline Advisers purchased a new position in Onity Group in the fourth quarter valued at about $313,000. JPMorgan Chase & Co. lifted its position in shares of Onity Group by 181.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,255 shares of the company’s stock valued at $551,000 after acquiring an additional 11,126 shares during the period. Finally, Charles Schwab Investment Management Inc. purchased a new stake in shares of Onity Group during the 4th quarter worth approximately $583,000. Hedge funds and other institutional investors own 70.16% of the company’s stock.

Onity Group Price Performance

ONIT stock opened at $30.67 on Friday. The stock’s 50 day moving average price is $33.49 and its 200 day moving average price is $31.41. The firm has a market cap of $241.46 million, a P/E ratio of 7.50 and a beta of 1.98. The company has a debt-to-equity ratio of 20.28, a quick ratio of 26.46 and a current ratio of 26.46. Onity Group has a 1 year low of $22.40 and a 1 year high of $41.27.

Onity Group (NYSE:ONIT) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.95). Onity Group had a return on equity of 20.50% and a net margin of 3.47%. The company had revenue of $224.80 million for the quarter, compared to analysts’ expectations of $253.37 million. On average, sell-side analysts expect that Onity Group will post 10.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ONIT. BTIG Research raised 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. B. Riley raised Onity Group to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Onity Group from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th.

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.