Finance of America Companies (NYSE:FOA) Upgraded at Wall Street Zen

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

FOA has been the subject of a number of other research reports. Zacks Research cut shares of Finance of America Companies from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th. Alliance Global Partners began coverage on Finance of America Companies in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $30.00 price objective on the stock. Weiss Ratings cut Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Finally, B. Riley Financial restated a “buy” rating and set a $32.00 target price (up from $25.00) on shares of Finance of America Companies in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Finance of America Companies presently has a consensus rating of “Hold” and a consensus target price of $30.50.

Finance of America Companies Trading Down 0.2%

Shares of FOA opened at $13.47 on Friday. The stock’s 50-day moving average price is $18.22 and its 200 day moving average price is $20.01. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 60.78. The firm has a market capitalization of $233.17 million, a price-to-earnings ratio of -4.48 and a beta of 1.68. Finance of America Companies has a 12-month low of $12.15 and a 12-month high of $29.79.

Finance of America Companies (NYSE:FOA) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). Finance of America Companies had a positive return on equity of 28.39% and a negative net margin of 0.10%.The business had revenue of $62.48 million for the quarter, compared to the consensus estimate of $121.94 million. As a group, research analysts predict that Finance of America Companies will post 3.87 earnings per share for the current year.

Insiders Place Their Bets

In other Finance of America Companies news, CIO Jeremy Prahm sold 6,000 shares of the company’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $13.98, for a total transaction of $83,880.00. Following the transaction, the executive owned 161,856 shares of the company’s stock, valued at approximately $2,262,746.88. This represents a 3.57% decrease in their position. The transaction was disclosed in a 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. In the last three months, insiders have sold 32,250 shares of company stock valued at $608,228. Insiders own 35.37% of the company’s stock.

Institutional Investors Weigh In On Finance of America Companies

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new position in shares of Finance of America Companies during the second quarter worth $240,000. First Trust Advisors LP increased its position in shares of 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 in the last quarter. Dimensional Fund Advisors LP raised 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. Purpose Unlimited Inc. bought a new position in Finance of America Companies during the fourth quarter worth about $2,325,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Finance of America Companies by 160.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,304 shares of the company’s stock worth $80,000 after acquiring an additional 2,035 shares in the last quarter. Institutional investors 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 older homeowners use their home equity as part of a broader retirement strategy. Through its subsidiaries, the company provides reverse mortgage products and related solutions designed to help homeowners access cash, supplement retirement income, manage expenses or remain in their homes.

The company’s reverse mortgage business, Finance of America Reverse, offers federally insured Home Equity Conversion Mortgages as well as proprietary reverse mortgage products, including HomeSafe.