Finance of America Companies (NYSE:FOA) Upgraded to Hold 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 morning.

Several other brokerages also recently commented on FOA. B. Riley Financial reiterated a “buy” rating and set a $32.00 target price (up from $25.00) on shares of Finance of America Companies in a research note on Wednesday, August 5th. Weiss Ratings downgraded Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday. Alliance Global Partners started coverage on shares of Finance of America Companies in a research report on Wednesday, July 22nd. They set a “buy” rating and a $30.00 price objective for the company. Finally, Zacks Research cut shares of Finance of America Companies from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Finance of America Companies has a consensus rating of “Hold” and an average price target of $30.50.

Finance of America Companies Trading Down 1.9%

Shares of NYSE:FOA opened at $21.88 on Friday. Finance of America Companies has a 52-week low of $15.77 and a 52-week high of $29.79. The company has a debt-to-equity ratio of 60.78, a quick ratio of 2.62 and a current ratio of 3.02. The company has a market capitalization of $378.66 million, a P/E ratio of -7.27 and a beta of 1.65. The company has a 50-day simple moving average of $23.20 and a 200 day simple moving average of $21.04.

Finance of America Companies (NYSE:FOA) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). The business had revenue of $62.48 million for the quarter, compared to analyst estimates of $121.94 million. Finance of America Companies had a positive return on equity of 28.39% and a negative net margin of 0.10%. Sell-side analysts forecast that Finance of America Companies will post 4.16 earnings per share for the current year.

Insider Activity at Finance of America Companies

In other Finance of America Companies news, CIO Jeremy Prahm sold 8,860 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $20.49, for a total value of $181,541.40. Following the transaction, the executive directly owned 203,856 shares of the company’s stock, valued at $4,177,009.44. This represents a 4.17% decrease in their position. The sale was disclosed in a 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 28,360 shares of company stock valued at $601,789 over the last 90 days. 35.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Finance of America Companies

A number of institutional investors have recently modified their holdings of FOA. Beach Point Capital Management LP grew its position in shares of Finance of America Companies by 557.5% during the 4th quarter. Beach Point Capital Management LP now owns 789,399 shares of the company’s stock worth $19,111,000 after purchasing an additional 669,336 shares in the last quarter. Invesco Ltd. acquired a new stake in shares of Finance of America Companies in the third quarter valued at approximately $3,147,000. Geode Capital Management LLC raised its position 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Finance of America Companies by 56.7% in the first quarter. Dimensional Fund Advisors LP now owns 102,061 shares of the company’s stock valued at $1,694,000 after buying an additional 36,929 shares during the period. Finally, Purpose Unlimited Inc. bought a new stake in shares of Finance of America Companies in the fourth quarter valued at approximately $2,325,000. Institutional investors own 97.20% of the company’s stock.

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.