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 on Saturday.

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

Finance of America Companies Price Performance

Shares of NYSE FOA opened at $16.92 on Friday. Finance of America Companies has a twelve month low of $16.09 and a twelve month high of $29.58. The firm has a market cap of $144.67 million, a P/E ratio of 8.68 and a beta of 1.65. The company has a 50 day moving average of $21.06 and a 200 day moving average of $22.49. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 47.80.

Finance of America Companies (NYSE:FOA) last issued its earnings results on Tuesday, March 10th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The business had revenue of $73.51 million for the quarter, compared to the consensus estimate 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, research analysts expect that Finance of America Companies will post 0.75 EPS for the current fiscal year.

Insider Activity at Finance of America Companies

In related news, CAO Tai A. Thornock sold 1,100 shares of the business’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 directly owned 10,650 shares in the company, valued at approximately $261,777. The trade was a 9.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $10.00, for a total transaction of $15,961,420.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 3,194,134 shares of company stock worth $31,968,013. 25.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Finance of America Companies

A number of institutional investors have recently bought and sold shares of the stock. Cooperman Leon G lifted its position in Finance of America Companies by 0.8% during the third quarter. Cooperman Leon G now owns 1,286,040 shares of the company’s stock valued at $28,846,000 after purchasing an additional 10,628 shares in the last quarter. Beach Point Capital Management LP raised its stake in shares of 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 worth $19,111,000 after buying an additional 669,336 shares during the period. Invesco Ltd. bought a new position in shares of Finance of America Companies in the third quarter worth about $3,147,000. Geode Capital Management LLC lifted its position in shares of Finance of America Companies by 66.2% during the 2nd 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 in the last quarter. Finally, Purpose Unlimited Inc. purchased a new position in shares of Finance of America Companies during the 4th quarter valued at about $2,325,000. 97.20% of the stock is owned by institutional investors.

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.