Finance of America Companies (NYSE:FOA) Rating Lowered to “Sell” at Wall Street Zen

Finance of America Companies (NYSE:FOA) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other research analysts also recently issued research reports about the company. UBS Group set a $29.50 price objective on Finance of America Companies and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Weiss Ratings reissued a “sell (d)” rating on shares of Finance of America Companies in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Finance of America Companies currently has a consensus rating of “Hold” and a consensus price target of $29.75.

Finance of America Companies Price Performance

Finance of America Companies stock opened at $17.69 on Friday. The stock has a 50-day moving average price of $22.27 and a two-hundred day moving average price of $23.18. Finance of America Companies has a 12 month low of $16.58 and a 12 month high of $29.58. The company has a market capitalization of $139.59 million, a PE ratio of -6.65 and a beta of 1.65. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 51.28.

Insider Activity

In other news, CAO Tai A. Thornock sold 1,100 shares of the firm’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $24.58, for a total transaction of $27,038.00. Following the completion of the transaction, the chief accounting officer directly owned 10,650 shares in the company, valued at $261,777. This trade represents a 9.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Finance of America Companies stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 3,195,234 shares of company stock valued at $31,993,357. Company insiders own 25.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Cooperman Leon G boosted its stake in shares of Finance of America Companies by 0.8% in the 3rd quarter. Cooperman Leon G now owns 1,286,040 shares of the company’s stock valued at $28,846,000 after purchasing an additional 10,628 shares during the last quarter. Beach Point Capital Management LP increased its position in shares of Finance of America Companies by 557.5% during the fourth quarter. Beach Point Capital Management LP now owns 789,399 shares of the company’s stock worth $19,111,000 after buying an additional 669,336 shares during the period. Invesco Ltd. bought a new position in Finance of America Companies during the third quarter worth $3,147,000. Geode Capital Management LLC raised its stake in Finance of America Companies by 66.2% during the second quarter. Geode Capital Management LLC now owns 136,672 shares of the company’s stock worth $3,188,000 after buying an additional 54,429 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in Finance of America Companies by 239.3% in the third quarter. Two Sigma Investments LP now owns 88,888 shares of the company’s stock valued at $1,994,000 after buying an additional 62,687 shares during the period. Institutional investors own 97.20% of the company’s stock.

About Finance of America Companies

Finance of America Companies (NYSE: FOA) is a diversified nonbank financial services firm specializing in mortgage and insurance products for consumers. The company operates across multiple business segments, delivering home financing solutions, retirement products and specialized lending services through a blend of digital and traditional distribution channels.

In its mortgage segment, FOA originates and purchases a range of home loans including purchase, refinance, FHA, VA and USDA loans.