Onity Group (NYSE:ONIT) Short Interest Up 30.9% in September

Onity Group (NYSE:ONIT) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 42,800 shares, an increase of 30.9% from the September 15th total of 32,700 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average trading volume of 24,300 shares, the days-to-cover ratio is currently 1.8 days.

Onity Group Price Performance

Shares of Onity Group stock traded down $0.46 during trading on Tuesday, hitting $29.78. The company’s stock had a trading volume of 27,339 shares, compared to its average volume of 17,024. The stock has a market capitalization of $232.58 million, a PE ratio of 56.47 and a beta of 1.84. The company has a debt-to-equity ratio of 21.15, a quick ratio of 24.04 and a current ratio of 24.04. Onity Group has a 52 week low of $21.15 and a 52 week high of $36.91. The firm’s 50-day moving average is $28.80.

Onity Group (NYSE:ONIT) last issued its quarterly earnings results on Thursday, August 1st. The company reported $4.07 earnings per share for the quarter, beating the consensus estimate of $1.37 by $2.70. Onity Group had a return on equity of 15.54% and a net margin of 0.16%. The company had revenue of $246.40 million during the quarter, compared to analysts’ expectations of $273.64 million. During the same quarter in the prior year, the firm posted $1.04 earnings per share. On average, equities analysts predict that Onity Group will post 10.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. B. Riley raised Onity Group to a “strong-buy” rating in a report on Tuesday, August 13th. Keefe, Bruyette & Woods raised their target price on shares of Onity Group from $33.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th.

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.