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

Oaktree Capital Management LP bought a new stake in Onity Group (NYSE:ONIT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 410,429 shares of the company’s stock, valued at approximately $12,604,000. Oaktree Capital Management LP owned about 5.22% of Onity Group as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake 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 last quarter. Empowered Funds LLC purchased a new stake in Onity Group in the 4th quarter valued at $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 acquired a new position in Onity Group in the fourth quarter valued at $100,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Onity Group in the fourth quarter valued at about $851,000. 70.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ONIT. B. Riley upgraded shares of Onity Group to a “strong-buy” rating in a research report on Tuesday, January 7th. 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 research note on Monday, December 9th.

Onity Group Stock Down 3.4 %

ONIT stock opened at $31.36 on Friday. 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 company’s 50-day moving average price is $33.67 and its 200 day moving average price is $31.73. Onity Group has a 52 week low of $22.40 and a 52 week high of $41.27. The company has a market cap 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 results on Thursday, February 13th. The company reported $1.39 earnings per share for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.95). The firm had revenue of $224.80 million during the quarter, compared to analyst estimates of $253.37 million. Onity Group had a return on equity of 20.50% and a net margin of 3.47%. On average, research analysts expect that Onity Group will post 10.51 earnings per share for the current fiscal year.

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.