Wall Street Zen Upgrades Finance of America Companies (NYSE:FOA) to “Hold”

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

FOA has been the subject of several other reports. B. Riley Financial assumed coverage on Finance of America Companies in a report on Thursday, April 2nd. They issued a “buy” rating and a $22.50 price target for the company. Weiss Ratings reiterated 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. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $26.00.

Finance of America Companies Stock Down 2.6%

FOA opened at $17.65 on Monday. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 47.80. The firm has a market cap of $150.94 million, a P/E ratio of 9.05 and a beta of 1.70. Finance of America Companies has a 52 week low of $15.77 and a 52 week high of $29.58. The business’s fifty day simple moving average is $19.39 and its 200 day simple moving average is $21.75.

Finance of America Companies (NYSE:FOA) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $109.45 million. Finance of America Companies had a return on equity of 10.30% and a net margin of 9.09%. As a group, equities research analysts anticipate that Finance of America Companies will post 0.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other Finance of America Companies news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’s stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CIO Jeremy Prahm sold 6,000 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $17.50, for a total value of $105,000.00. Following the completion of the transaction, the executive owned 167,294 shares of the company’s stock, valued at $2,927,645. This trade represents a 3.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 3,200,134 shares of company stock valued at $32,067,351. Insiders own 25.00% of the company’s stock.

Institutional Trading of Finance of America Companies

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Purpose Unlimited Inc. acquired a new stake in shares of Finance of America Companies during the 4th quarter worth $2,325,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Finance of America Companies by 160.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,304 shares of the company’s stock worth $80,000 after buying an additional 2,035 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Finance of America Companies during the 4th quarter worth $327,000. Millennium Management LLC acquired a new stake in shares of Finance of America Companies during the 4th quarter worth $1,303,000. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of Finance of America Companies during the 4th quarter worth $207,000. 97.20% of the stock is currently owned by institutional investors and hedge funds.

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.