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

Finance of America Companies (NYSE:FOA) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday.

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Finance of America Companies in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Finance of America Companies presently has an average rating of “Reduce” and a consensus price target of $29.50.

Finance of America Companies Stock Performance

Shares of FOA stock opened at $16.04 on Friday. The firm’s 50 day moving average is $20.12 and its 200 day moving average is $22.07. The stock has a market capitalization of $137.14 million, a P/E ratio of 8.23 and a beta of 1.65. Finance of America Companies has a 12 month low of $15.77 and a 12 month high of $29.58. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 47.80.

Finance of America Companies (NYSE:FOA) last released its quarterly earnings data on Tuesday, March 10th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. Finance of America Companies had a net margin of 9.09% and a return on equity of 10.30%. The business had revenue of $73.51 million during the quarter, compared to analyst estimates of $109.45 million. On average, sell-side analysts anticipate that Finance of America Companies will post 0.75 earnings per share for the current year.

Insider Activity

In other Finance of America Companies news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Urban Holdings L.L.C. Bto sold 1,596,142 shares of the firm’s stock in a transaction 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 quarter, insiders sold 3,200,134 shares of company stock worth $32,073,013. Insiders own 25.00% of the company’s stock.

Institutional Investors Weigh In On Finance of America Companies

Several large investors have recently added to or reduced their stakes in FOA. Cooperman Leon G grew 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 worth $28,846,000 after buying an additional 10,628 shares in the last quarter. Beach Point Capital Management LP raised its holdings in shares of Finance of America Companies by 557.5% in the 4th quarter. Beach Point Capital Management LP now owns 789,399 shares of the company’s stock valued at $19,111,000 after acquiring an additional 669,336 shares in the last quarter. Invesco Ltd. purchased a new stake in shares of Finance of America Companies in the 3rd quarter valued at about $3,147,000. Geode Capital Management LLC boosted 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 acquiring an additional 54,429 shares during the last quarter. Finally, Purpose Unlimited Inc. purchased a new position in shares of Finance of America Companies during the fourth quarter worth about $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.