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

by · The Markets Daily

Finance of America Companies (NYSE:FOA – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Other equities research analysts have also recently issued research reports about the company. Zacks Research upgraded Finance of America Companies to a “hold” rating in a research note on Monday, April 6th. Weiss Ratings raised shares of Finance of America Companies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, June 12th. Alliance Global Partners initiated 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, B. Riley Financial assumed coverage on shares of Finance of America Companies in a report on Thursday, April 2nd. They issued a “buy” rating and a $22.50 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $27.33.

View Our Latest Stock Analysis on Finance of America Companies

Finance of America Companies Price Performance

Shares of NYSE FOA opened at $22.92 on Friday. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 43.57. The business’s 50 day moving average price is $22.22 and its two-hundred day moving average price is $21.13. The company has a market cap of $203.72 million, a PE ratio of 57.29 and a beta of 1.62. Finance of America Companies has a twelve month low of $15.77 and a twelve month high of $29.79.

Finance of America Companies (NYSE:FOA – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $120.14 million during the quarter, compared to analysts’ expectations of $115.31 million. On average, analysts predict that Finance of America Companies will post 4.59 EPS for the current year.

Insider Activity

In other news, CIO Jeremy Prahm sold 8,860 shares of the company’s stock in a transaction that occurred 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 owned 203,856 shares of the company’s stock, valued at approximately $4,177,009.44. This represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,838 shares of company stock worth $431,968 in the last three months. Insiders own 35.37% of the company’s stock.

Institutional Trading of Finance of America Companies

Several hedge funds have recently added to or reduced their stakes in FOA. Caitong International Asset Management Co. Ltd grew its holdings in Finance of America Companies by 183.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company’s stock valued at $28,000 after buying an additional 822 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Finance of America Companies during the third quarter worth $29,000. JPMorgan Chase & Co. boosted its position in shares of Finance of America Companies by 4,270.8% in the second 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 during the period. Bank of America Corp DE boosted its position in shares of Finance of America Companies by 3,503.1% in the fourth quarter. Bank of America Corp DE now owns 2,306 shares of the company’s stock valued at $65,000 after acquiring an additional 2,242 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Finance of America Companies in the second quarter valued at about $57,000. 97.20% of the stock is owned by institutional investors and hedge funds.

About Finance of America Companies

(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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