Onity Group (NYSE:ONIT) Short Interest Up 35.4% in February

Onity Group (NYSE:ONIT) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 108,300 shares, an increase of 35.4% from the February 13th total of 80,000 shares. Based on an average daily trading volume, of 47,300 shares, the days-to-cover ratio is currently 2.3 days. Approximately 1.7% of the company’s stock are sold short.

Institutional Trading of Onity Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in Onity Group by 181.5% in the third quarter. JPMorgan Chase & Co. now owns 17,255 shares of the company’s stock valued at $551,000 after buying an additional 11,126 shares during the period. Empowered Funds LLC bought a new position in shares of Onity Group in the fourth quarter valued at approximately $1,377,000. Rhumbline Advisers purchased a new position in Onity Group during the 4th quarter worth $313,000. New York State Common Retirement Fund bought a new stake in Onity Group in the 4th quarter worth about $100,000. Finally, Prescott Group Capital Management L.L.C. bought a new position in shares of Onity Group in the fourth quarter valued at approximately $4,686,000. 70.16% of the stock is currently owned by institutional investors.

Onity Group Stock Performance

NYSE:ONIT traded up $0.67 during mid-day trading on Friday, hitting $30.27. 35,792 shares of the stock were exchanged, compared to its average volume of 47,749. The firm’s 50-day simple moving average is $33.45 and its 200 day simple moving average is $31.49. The stock has a market capitalization of $238.32 million, a price-to-earnings ratio of 7.40 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 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 (NYSE:ONIT) last posted its quarterly earnings results 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 net margin of 3.47% and a return on equity of 20.50%. The company had revenue of $224.80 million during the quarter, compared to analyst estimates of $253.37 million. As a group, equities analysts anticipate that Onity Group will post 10.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. 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 report on Monday, December 9th. B. Riley raised 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.