Segall Bryant & Hamill LLC Makes New Investment in Onity Group (NYSE:ONIT)

Segall Bryant & Hamill LLC acquired a new position in Onity Group (NYSE:ONIT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 42,520 shares of the company’s stock, valued at approximately $1,306,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Corebridge Financial Inc. acquired a new position in shares of Onity Group during the 4th quarter valued at $98,000. American Century Companies Inc. bought a new stake in Onity Group in the fourth quarter valued at $960,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Onity Group during the fourth quarter valued at about $226,000. Prescott Group Capital Management L.L.C. bought a new position in shares of Onity Group during the 4th quarter worth about $4,686,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Onity Group in the 4th quarter valued at about $886,000. 70.16% of the stock is owned by institutional investors and hedge funds.

Onity Group Price Performance

ONIT opened at $31.36 on Friday. Onity Group has a 1 year low of $22.40 and a 1 year high of $41.27. The company has a debt-to-equity ratio of 20.28, a current ratio of 26.46 and a quick ratio of 26.46. The company has a market capitalization of $246.90 million, a price-to-earnings ratio of 7.67 and a beta of 1.98. The firm’s fifty day moving average price is $33.67 and its two-hundred day moving average price is $31.71.

Onity Group (NYSE:ONIT) last released 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 analysts’ expectations of $253.37 million. Onity Group had a return on equity of 20.50% and a net margin of 3.47%. As a group, analysts anticipate that Onity Group will post 10.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on ONIT. BTIG Research upgraded Onity Group from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Monday, December 9th. B. Riley upgraded Onity Group to a “strong-buy” rating in a report on Tuesday, January 7th.

Onity Group 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.