Finance of America Companies Inc. (NYSE:FOA) Receives Average Recommendation of “Hold” from Brokerages

by · The Cerbat Gem

Finance of America Companies Inc. (NYSE:FOA – Get Free Report) has received an average rating of “Hold” from the five ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $27.3333.

A number of brokerages have recently commented on FOA. Zacks Research upgraded Finance of America Companies to a “hold” rating in a research report on Monday, April 6th. Wall Street Zen raised shares of Finance of America Companies from a “sell” rating to a “hold” rating in a research report on Monday, April 6th. B. Riley Financial started coverage on shares of Finance of America Companies in a research report on Thursday, April 2nd. They set a “buy” rating and a $22.50 price objective on the stock. Weiss Ratings upgraded Finance of America Companies from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, June 12th. Finally, Alliance Global Partners assumed coverage on shares of Finance of America Companies in a research note on Wednesday. They set a “buy” rating and a $30.00 target price for the company.

Check Out Our Latest Research Report on Finance of America Companies

Finance of America Companies Stock Performance

FOA opened at $23.01 on Wednesday. Finance of America Companies has a 1-year low of $15.77 and a 1-year high of $29.79. The company has a market capitalization of $204.62 million, a price-to-earnings ratio of 57.53 and a beta of 1.62. The business has a 50 day moving average price of $22.04 and a two-hundred day moving average price of $21.13. The company has a debt-to-equity ratio of 43.57, a current ratio of 2.62 and a quick ratio of 2.62.

Finance of America Companies (NYSE:FOA – Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.26. Finance of America Companies had a return on equity of 22.24% and a net margin of 7.20%.The business had revenue of $120.14 million during the quarter, compared to analysts’ expectations of $115.31 million. Research analysts predict that Finance of America Companies will post 4.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CIO Jeremy Prahm sold 8,860 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $20.49, for a total transaction of $181,541.40. Following the completion of the sale, the executive owned 203,856 shares in the company, valued at approximately $4,177,009.44. This represents a 4.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,838 shares of company stock worth $431,968 in the last 90 days. 35.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Finance of America Companies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Beach Point Capital Management LP raised its position 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 valued at $19,111,000 after purchasing an additional 669,336 shares during the period. Invesco Ltd. bought a new stake in shares of Finance of America Companies during the 3rd quarter worth $3,147,000. Purpose Unlimited Inc. acquired a new position in Finance of America Companies in the 4th quarter valued at $2,325,000. Russell Investments Group Ltd. grew its stake in Finance of America Companies by 5,866.5% in the 4th quarter. Russell Investments Group Ltd. now owns 77,445 shares of the company’s stock valued at $1,875,000 after buying an additional 76,147 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in Finance of America Companies by 239.3% in the 3rd quarter. Two Sigma Investments LP now owns 88,888 shares of the company’s stock worth $1,994,000 after acquiring an additional 62,687 shares during the period. Institutional investors and hedge funds own 97.20% of the company’s stock.

Finance of America Companies Company Profile

(Get Free Report)

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.

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