Finance of America Companies (NYSE:FOA) Lowered to “Sell” Rating by Wall Street Zen

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

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

Finance of America Companies Stock Down 2.4%

FOA stock opened at $15.27 on Friday. The firm has a market cap of $264.29 million, a price-to-earnings ratio of -5.07 and a beta of 1.65. Finance of America Companies has a 1-year low of $15.17 and a 1-year high of $29.79. The firm has a fifty day moving average price of $21.62 and a two-hundred day moving average price of $20.47. The company has a debt-to-equity ratio of 60.78, a current ratio of 3.02 and a quick ratio of 3.02.

Finance of America Companies (NYSE:FOA) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.84 earnings per share (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 during the quarter, compared to the consensus estimate of $121.94 million. Research analysts predict that Finance of America Companies will post 4.16 EPS for the current year.

Insiders Place Their Bets

In related news, CIO Jeremy Prahm sold 6,000 shares of Finance of America Companies stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $16.82, for a total value of $100,920.00. Following the sale, the executive directly owned 167,856 shares in the company, valued at $2,823,337.92. This trade represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 35,110 shares of company stock valued at $717,011. Company insiders own 35.37% of the company’s stock.

Institutional Investors Weigh In On Finance of America Companies

Several large investors have recently made changes to their positions in FOA. Caitong International Asset Management Co. Ltd boosted its position in shares of Finance of America Companies by 183.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company’s stock worth $28,000 after buying an additional 822 shares during the period. Russell Investments Group Ltd. acquired a new stake in Finance of America Companies in the 3rd quarter valued at approximately $29,000. California State Teachers Retirement System increased its position in Finance of America Companies by 440.4% in the 2nd quarter. California State Teachers Retirement System now owns 1,486 shares of the company’s stock valued at $41,000 after acquiring an additional 1,211 shares during the period. JPMorgan Chase & Co. raised its stake in Finance of America Companies by 4,270.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,098 shares of the company’s stock valued at $49,000 after acquiring an additional 2,050 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Finance of America Companies during the 2nd quarter valued at $57,000. Institutional investors and hedge funds 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.