Finance of America Companies (NYSE:FOA) Downgraded by Wall Street Zen to Sell

Wall Street Zen downgraded shares of Finance of America Companies (NYSE:FOA) from a hold rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

Other research analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Zacks Research raised shares of Finance of America Companies from a “strong sell” rating to a “hold” rating in a research report on Monday, November 2nd. B. Riley Financial restated a “buy” rating and issued a $32.00 target price (up from $25.00) on shares of Finance of America Companies in a report on Wednesday, August 5th. Finally, Alliance Global Partners assumed coverage on shares of Finance of America Companies in a report on Wednesday, July 22nd. They issued a “buy” rating and a $30.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $30.50.

Finance of America Companies Stock Performance

Finance of America Companies stock opened at $12.86 on Friday. The firm has a market capitalization of $222.61 million, a P/E ratio of -1.65 and a beta of 1.77. The stock has a fifty day moving average price of $13.44 and a 200 day moving average price of $19.13. Finance of America Companies has a 52 week low of $9.71 and a 52 week high of $29.79. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 60.78.

Finance of America Companies (NYSE:FOA) last released its earnings results on Tuesday, November 3rd. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.98). Finance of America Companies had a positive return on equity of 19.87% and a negative net margin of 0.10%. The business had revenue of $89.17 million for the quarter, compared to analysts’ expectations of $132.34 million. Equities research analysts anticipate that Finance of America Companies will post 3.87 earnings per share for the current year.

Insider Transactions at Finance of America Companies

In other Finance of America Companies news, CIO Jeremy Prahm sold 5,610 shares of the company’s stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $10.74, for a total transaction of $60,251.40. Following the completion of the sale, the executive directly owned 150,246 shares in the company, valued at $1,613,642.04. This represents a 3.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 37,110 shares of company stock worth $596,411 over the last ninety days. 35.37% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Finance of America Companies

Several large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in Finance of America Companies by 56.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 102,061 shares of the company’s stock worth $1,694,000 after buying an additional 36,929 shares during the period. Prescott Group Capital Management L.L.C. boosted its position in Finance of America Companies by 17.8% in the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 66,206 shares of the company’s stock valued at $837,000 after buying an additional 10,000 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Finance of America Companies by 140.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 32,246 shares of the company’s stock valued at $408,000 after buying an additional 18,819 shares during the last quarter. First Trust Advisors LP boosted its position in Finance of America Companies by 43.7% in the 1st quarter. First Trust Advisors LP now owns 17,210 shares of the company’s stock valued at $286,000 after buying an additional 5,236 shares during the last quarter. Finally, Ritholtz Wealth Management acquired a new stake in shares of Finance of America Companies during the third quarter valued at about $198,000. Institutional investors and hedge funds own 97.20% of the company’s stock.

Finance of America Companies Company Profile

Finance of America Companies Inc (NYSE:FOA) is a financial services company focused on helping homeowners access and manage home equity. Its primary business is conducted through Finance of America Reverse, which provides reverse mortgage products and related services to older homeowners.

The company offers federally insured Home Equity Conversion Mortgages (HECMs), proprietary reverse mortgage products and reverse mortgage refinancing solutions. These products generally allow eligible homeowners to convert a portion of their home equity into funds while continuing to live in their homes, subject to applicable loan terms, taxes, insurance and maintenance requirements.