Oaktree Capital Management LP Makes New $12.60 Million Investment in Onity Group (NYSE:ONIT)

Oaktree Capital Management LP acquired a new stake in Onity Group (NYSE:ONIT) during the 4th quarter, Holdings Channel.com reports. The firm acquired 410,429 shares of the company’s stock, valued at approximately $12,604,000. Oaktree Capital Management LP owned about 0.05% of Onity Group as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Corebridge Financial Inc. purchased a new position in Onity Group in the 4th quarter valued at about $98,000. New York State Common Retirement Fund purchased a new stake in Onity Group in the 4th quarter worth approximately $100,000. SBI Securities Co. Ltd. purchased a new position in shares of Onity Group during the 4th quarter worth $224,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Onity Group during the fourth quarter worth $226,000. Finally, Rhumbline Advisers purchased a new stake in shares of Onity Group in the fourth quarter valued at $313,000. Institutional investors and hedge funds own 70.16% of the company’s stock.

Analyst Upgrades and Downgrades

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

Onity Group Trading Down 3.4 %

Shares of ONIT opened at $31.36 on Friday. The stock’s fifty day simple moving average is $33.67 and its 200 day simple moving average is $31.73. Onity Group has a twelve month low of $22.40 and a twelve month high of $41.27. The company has a current ratio of 26.46, a quick ratio of 26.46 and a debt-to-equity ratio of 20.28. The firm has a market capitalization of $246.90 million, a P/E ratio of 7.67 and a beta of 1.98.

Onity Group (NYSE:ONIT) last released 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 firm had revenue of $224.80 million during the quarter, compared to analysts’ expectations of $253.37 million. On average, equities research analysts forecast that Onity Group will post 10.51 earnings per share for the current year.

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.