Finance of America Companies (NYSE:FOA) Coverage Initiated by Analysts at B. Riley Financial

Equities research analysts at B. Riley Financial began coverage on shares of Finance of America Companies (NYSE:FOA) in a note issued to investors on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $22.50 price target on the stock. B. Riley Financial’s price objective indicates a potential upside of 30.83% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Wall Street Zen lowered shares of Finance of America Companies from a “hold” rating to a “sell” rating in a research note on Sunday. Weiss Ratings reaffirmed 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 issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $26.00.

Finance of America Companies Stock Performance

Shares of NYSE:FOA opened at $17.20 on Thursday. Finance of America Companies has a 1 year low of $15.77 and a 1 year high of $29.58. The firm has a market capitalization of $147.04 million, a PE ratio of 8.82 and a beta of 1.70. The business’s 50 day moving average price is $19.85 and its 200-day moving average price is $21.98. The company has a debt-to-equity ratio of 47.80, a current ratio of 2.67 and a quick ratio of 2.67.

Finance of America Companies (NYSE:FOA) last issued its earnings results on Tuesday, March 10th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The business had revenue of $73.51 million during the quarter, compared to analysts’ expectations of $109.45 million. Finance of America Companies had a net margin of 9.09% and a return on equity of 10.30%. As a group, equities research analysts expect that Finance of America Companies will post 0.75 earnings per share for the current fiscal year.

Insider Activity at Finance of America Companies

In other news, CAO Tai A. Thornock sold 1,100 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $24.58, for a total value of $27,038.00. Following the transaction, the chief accounting officer directly owned 10,650 shares in the company, valued at approximately $261,777. This represents a 9.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 3,200,134 shares of company stock worth $32,073,013. 25.00% of the stock is owned by corporate insiders.

Institutional Trading of Finance of America Companies

Several hedge funds have recently made changes to their positions in FOA. Beach Point Capital Management LP lifted its holdings in Finance of America Companies by 557.5% during the 4th 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 in the last quarter. Invesco Ltd. purchased a new position in shares of Finance of America Companies in the 3rd quarter valued at about $3,147,000. Purpose Unlimited Inc. acquired a new stake in Finance of America Companies during the fourth quarter worth approximately $2,325,000. Russell Investments Group Ltd. raised its stake in Finance of America Companies by 5,866.5% during the 4th quarter. Russell Investments Group Ltd. now owns 77,445 shares of the company’s stock worth $1,875,000 after acquiring an additional 76,147 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in shares of Finance of America Companies by 239.3% during the third quarter. Two Sigma Investments LP now owns 88,888 shares of the company’s stock worth $1,994,000 after purchasing an additional 62,687 shares in the last quarter. Institutional investors and hedge funds own 97.20% of the company’s stock.

Finance of America Companies Company Profile

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.