Tai Thornock Sells 1,100 Shares of Finance of America Companies (NYSE:FOA) Stock

Finance of America Companies Inc. (NYSE:FOA) CAO Tai 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 transaction of $27,038.00. Following the completion of the sale, the chief accounting officer owned 10,650 shares of the company’s stock, valued at approximately $261,777. This trade represents a 9.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Finance of America Companies Trading Down 1.0%

Finance of America Companies stock traded down $0.25 during midday trading on Wednesday, reaching $23.69. The stock had a trading volume of 63,181 shares, compared to its average volume of 114,187. The firm has a market cap of $186.94 million, a price-to-earnings ratio of -8.91 and a beta of 1.62. The firm’s fifty day simple moving average is $23.38 and its two-hundred day simple moving average is $23.88. The company has a debt-to-equity ratio of 51.28, a current ratio of 2.64 and a quick ratio of 2.64. Finance of America Companies Inc. has a twelve month low of $16.58 and a twelve month high of $29.58.

Finance of America Companies (NYSE:FOA) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.66. The company had revenue of $80.85 million for the quarter, compared to analysts’ expectations of $101.91 million. Equities analysts anticipate that Finance of America Companies Inc. will post 0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Finance of America Companies

Several large investors have recently bought and sold shares of FOA. Invesco Ltd. bought a new position in shares of Finance of America Companies during the 3rd quarter worth about $3,147,000. Two Sigma Investments LP lifted its stake in shares of Finance of America Companies by 239.3% in the third quarter. Two Sigma Investments LP now owns 88,888 shares of the company’s stock valued at $1,994,000 after buying an additional 62,687 shares during the period. Geode Capital Management LLC lifted its stake in shares of Finance of America Companies by 66.2% in the second quarter. Geode Capital Management LLC now owns 136,672 shares of the company’s stock valued at $3,188,000 after buying an additional 54,429 shares during the period. JPMorgan Chase & Co. grew its position in Finance of America Companies by 1,815.8% during the third 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. Finally, Bank of America Corp DE grew its position in Finance of America Companies by 681.8% during the second quarter. Bank of America Corp DE now owns 42,209 shares of the company’s stock worth $984,000 after buying an additional 36,810 shares in the last quarter. 97.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FOA. UBS Group set a $29.50 price objective on shares of Finance of America Companies and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Weiss Ratings restated a “sell (d)” rating on shares of Finance of America Companies in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Finance of America Companies has a consensus rating of “Hold” and an average price target of $29.75.

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.