Finance of America Companies’ (FOA) Buy Rating Reiterated at B. Riley Financial

B. Riley Financial reissued their buy rating on shares of Finance of America Companies (NYSE:FOA) in a report released on Wednesday morning,Benzinga reports. B. Riley Financial currently has a $32.00 target price on the stock, up from their prior target price of $25.00.

FOA has been the subject of several other research reports. Alliance Global Partners started coverage on shares of Finance of America Companies in a research note on Wednesday, July 22nd. They set a “buy” rating and a $30.00 price target for the company. Weiss Ratings upgraded Finance of America Companies from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. Finally, Wall Street Zen lowered Finance of America Companies from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $30.50.

Finance of America Companies Stock Performance

NYSE FOA opened at $22.18 on Wednesday. The company has a debt-to-equity ratio of 43.57, a current ratio of 2.62 and a quick ratio of 2.62. The company has a fifty day moving average price of $22.96 and a 200-day moving average price of $21.11. Finance of America Companies has a 1 year low of $15.77 and a 1 year high of $29.79. The firm has a market cap of $197.14 million, a price-to-earnings ratio of -7.37 and a beta of 1.65.

Finance of America Companies (NYSE:FOA) last posted its earnings results on Tuesday, August 4th. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.20). The firm had revenue of $62.48 million for the quarter, compared to the consensus estimate of $121.94 million. Finance of America Companies had a positive return on equity of 28.51% and a negative net margin of 0.10%. As a group, equities research analysts predict that Finance of America Companies will post 4.44 EPS for the current fiscal year.

Insider Activity

In other news, CIO Jeremy Prahm sold 8,860 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $20.49, for a total value of $181,541.40. Following the completion of the transaction, the executive directly owned 203,856 shares in the company, valued at approximately $4,177,009.44. This trade represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 16,360 shares of company stock valued at $337,849 over the last quarter. Corporate insiders own 35.37% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Beach Point Capital Management LP raised its stake in Finance of America Companies by 557.5% in the fourth quarter. Beach Point Capital Management LP now owns 789,399 shares of the company’s stock valued at $19,111,000 after purchasing an additional 669,336 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Finance of America Companies by 1,815.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 40,194 shares of the company’s stock worth $902,000 after buying an additional 38,096 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in Finance of America Companies in the 3rd quarter worth approximately $553,000. Purpose Unlimited Inc. purchased a new position in Finance of America Companies in the 4th quarter worth approximately $2,325,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Finance of America Companies by 160.4% in 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. 97.20% of the stock is owned by institutional investors.

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.