Wedbush Downgrade OneMain Holdings Inc. (OMF) to Neutral

Wedbush Downgrade OneMain Holdings Inc. (OMF) to Neutral

Wedbush cut shares of OneMain Holdings Inc. (NYSE:OMF) from an outperform rating to a neutral rating in a research note published on Tuesday morning. They currently have $30.00 target price on the stock, down from their prior target price of $45.00.

A number of other equities analysts have also commented on OMF. Zacks Investment Research upgraded shares of OneMain Holdings from a sell rating to a hold rating in a research report on Friday, July 15th. Barclays PLC reiterated an overweight rating and set a $36.00 target price on shares of OneMain Holdings in a research report on Friday, July 15th. Credit Suisse Group AG reiterated a buy rating on shares of OneMain Holdings in a research report on Friday, August 5th. JPMorgan Chase & Co. assumed coverage on shares of OneMain Holdings in a research report on Monday, September 12th. They set an overweight rating and a $38.00 target price on the stock. Finally, Stephens assumed coverage on shares of OneMain Holdings in a research report on Tuesday, November 1st. They set an equal weight rating and a $37.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $29.75.

OneMain Holdings (NYSE:OMF) opened at 19.40 on Tuesday. The stock’s market capitalization is $2.61 billion. OneMain Holdings has a 52-week low of $16.03 and a 52-week high of $50.02. The firm’s 50-day moving average is $28.45 and its 200 day moving average is $28.55.

OneMain Holdings (NYSE:OMF) last released its quarterly earnings results on Monday, November 7th. The company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $1.07 by $0.17. OneMain Holdings had a negative net margin of 0.44% and a positive return on equity of 19.47%. During the same quarter last year, the business earned $0.36 earnings per share. On average, equities analysts forecast that OneMain Holdings will post $3.83 earnings per share for the current year.

In other news, insider Jay N. Levine bought 50,000 shares of the stock in a transaction on Thursday, November 10th. The stock was purchased at an average price of $18.37 per share, with a total value of $918,500.00. Following the completion of the purchase, the insider now owns 3,080,000 shares of the company’s stock, valued at $56,579,600. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 57.81% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of OMF. Pacer Advisors Inc. increased its stake in shares of OneMain Holdings by 505.3% in the second quarter. Pacer Advisors Inc. now owns 5,375 shares of the company’s stock valued at $122,000 after buying an additional 4,487 shares in the last quarter. Legal & General Group Plc increased its stake in shares of OneMain Holdings by 131.6% in the second quarter. Legal & General Group Plc now owns 7,625 shares of the company’s stock valued at $174,000 after buying an additional 4,332 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of OneMain Holdings during the second quarter valued at about $185,000. Teacher Retirement System of Texas increased its stake in shares of OneMain Holdings by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 8,488 shares of the company’s stock valued at $194,000 after buying an additional 1,030 shares in the last quarter. Finally, Menta Capital LLC bought a new stake in shares of OneMain Holdings during the second quarter valued at about $215,000. 99.37% of the stock is owned by institutional investors.

About OneMain Holdings

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