helping homeowners is what we do!® consider joining us to help fulfill our mission of helping homeowners. as an ocwen team member, your mission is to delight the customers or co-workers you serve through caring service and innovative solutions. our talented, diverse team members are dedicated to helping the homeowners and investors we serve. as an industry leader in foreclosure prevention and loss mitigation, ocwen has completed over 776,700 loan modifications, over 318,000 home affordable modification program (hamp) sponsored modifications, 49% more than the next highest servicer. each team member, regardless of their role, is proud of ocwen’s focus on helping families stay in their homes and improving financial outcomes for investors. ocwen financial corporation is a financial services holding company which, through our subsidiaries, is one of the largest mortgage companies in the united states. our primary business is mortgage loan servicing and origination. homeward residentia
![Onity logo](/files/LOGO/873860-OCN.png)
Company profile
Ticker
ONIT
Exchange
Website
CEO
Glen Messina
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
Subsidiaries
PHH Mortgage Corporation • PHH Corporation • Ocwen Financial Solutions Private Limited • Ocwen Advance Facility Transferor, LLC • CR Limited • Ocwen USVI Services, LLC • Ocwen Loan Investment HB Depositor LLC • (1)Operating company ...
IRS number
650039856
ONIT stock data
Latest filings (excl ownership)
8-K
Regulation FD Disclosure
10 Jun 24
S-8
Registration of securities for employees
28 May 24
8-K
Departure of Directors or Certain Officers
28 May 24
10-Q
2024 Q1
Quarterly report
2 May 24
8-K
Ocwen Financial Announces First Quarter 2024 Results
2 May 24
ARS
2023 FY
Annual report to shareholders
22 Apr 24
DEF 14A
Definitive proxy
22 Apr 24
PRE 14A
Preliminary proxy
11 Apr 24
8-K/A
Departure of Directors or Certain Officers
11 Apr 24
DEFA14A
Additional proxy soliciting materials
3 Apr 24
Transcripts
ONIT
Earnings call transcript
2024 Q1
2 May 24
ONIT
Earnings call transcript
2023 Q4
27 Feb 24
ONIT
Earnings call transcript
2023 Q3
7 Nov 23
ONIT
Earnings call transcript
2023 Q2
3 Aug 23
ONIT
Earnings call transcript
2023 Q1
4 May 23
ONIT
Earnings call transcript
2023 Q1
4 May 23
ONIT
Earnings call transcript
2022 Q4
28 Feb 23
ONIT
Earnings call transcript
2022 Q3
3 Nov 22
ONIT
Earnings call transcript
2022 Q2
6 Aug 22
ONIT
Earnings call transcript
2022 Q1
5 May 22
Latest ownership filings
Financial summary
Quarter (USD) | Mar 24 | Sep 23 | Jun 23 | Mar 23 | |
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Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 251.20 mm | 251.20 mm | 251.20 mm | 251.20 mm | 251.20 mm | 251.20 mm |
Cash burn (monthly) | 4.90 mm | 1.92 mm | (no burn) | (no burn) | 99.03 mm | 47.38 mm |
Cash used (since last report) | 12.73 mm | 4.98 mm | n/a | n/a | 257.36 mm | 123.12 mm |
Cash remaining | 238.47 mm | 246.22 mm | n/a | n/a | -6.16 mm | 128.08 mm |
Runway (months of cash) | 48.7 | 128.5 | n/a | n/a | -0.1 | 2.7 |
Institutional ownership, Q4 2023
13F holders | Current |
---|---|
Total holders | 7 |
Opened positions | 2 |
Closed positions | 61 |
Increased positions | 0 |
Reduced positions | 0 |
13F shares | Current |
---|---|
Total value | 560.68 mm |
Total shares | 16.42 mm |
Total puts | 0.00 |
Total calls | 0.00 |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
Erbey William C | 14.82 mm | $20.30 mm |
Oaktree | 894.60 k | $0.00 |
Deer Park Road Management | 683.86 k | $22.34 mm |
Raymond James Financial Services Advisors | 16.67 k | $512.65 mm |
SG Americas Securities | 3.62 k | $111.00 k |
Fortitude Family Office | 165.00 | $5.08 mm |
Allspring Global Investments | 7.00 | $215.00 k |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
13 Jun 24 | Sean Bradley O'Neil | Common Stock | Payment of exercise | Dispose F | No | No | 23.69 | 5,071 | 120.13 k | 23,228 |
13 Jun 24 | Sean Bradley O'Neil | Common Stock | Option exercise | Acquire M | No | No | 0 | 12,887 | 0.00 | 28,299 |
13 Jun 24 | Sean Bradley O'Neil | Common Stock | Payment of exercise | Dispose F | No | No | 23.69 | 1,718 | 40.70 k | 15,412 |
13 Jun 24 | Sean Bradley O'Neil | Common Stock | Option exercise | Acquire M | No | No | 0 | 4,365 | 0.00 | 17,130 |
13 Jun 24 | Sean Bradley O'Neil | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 12,887 | 0.00 | 25,773 |
13 Jun 24 | Sean Bradley O'Neil | RSU Common Stock | Option exercise | Dispose M | No | No | 0 | 4,365 | 0.00 | 4,365 |
28 May 24 | Jacques J Busquet | Common Stock | Grant | Acquire A | No | No | 0 | 4,792 | 0.00 | 45,010 |
28 May 24 | Soaries DeForest B. Jr. | Common Stock | Grant | Acquire A | No | No | 0 | 4,792 | 0.00 | 36,418 |
28 May 24 | Jenne K Britell | Common Stock | Grant | Acquire A | No | No | 0 | 4,792 | 0.00 | 9,216 |
28 May 24 | Stein Kevin | Common Stock | Grant | Acquire A | No | No | 0 | 4,792 | 0.00 | 9,216 |
News
Ocwen Financial Announces Shareholder Approval To Rebrand As Onity Group; New Name And NYSE Trading Symbol "ONIT" Expected To Be Effective June 10, 2024
28 May 24
Keefe, Bruyette & Woods Maintains Market Perform on Ocwen Financial, Raises Price Target to $32
8 May 24
Ocwen Financial Q1 2024 GAAP EPS $3.74 Beats $1.11 Estimate, Sales $239.100M Miss $270.369M Estimate
2 May 24
Keefe, Bruyette & Woods Maintains Market Perform on Ocwen Financial, Lowers Price Target to $28
9 Apr 24
Ocwen Financial Plans To Change Its Name To Onity Group Inc.; Expects To Begin Trading On NYSE Under The Stock Symbol 'ONIT' In June 2024
3 Apr 24
Press releases
Ocwen Financial Officially Rebrands as Onity™ Group
10 Jun 24
Ocwen Financial Announces Shareholder Approval to Rebrand as Onity™ Group
28 May 24
Ocwen Financial Announces First Quarter 2024 Results
2 May 24
Ocwen Financial Schedules Conference Call – First Quarter 2024 Results and Business Update
24 Apr 24
Ocwen Financial Announces Intention to Rebrand as Onity™ Group
3 Apr 24