Finance of America Companies (NYSE:FOA) Raised to Hold at Zacks Research

Finance of America Companies (NYSE:FOA) was upgraded by investment analysts at Zacks Research to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Wall Street Zen raised Finance of America Companies from a “sell” rating to a “hold” rating in a research note on Monday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Finance of America Companies in a research note on Monday, December 29th. Finally, B. Riley Financial initiated coverage on Finance of America Companies in a research note on Thursday, April 2nd. They set a “buy” rating and a $22.50 price target for the company. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.00.

Finance of America Companies Trading Down 2.6%

Shares of FOA stock opened at $17.65 on Monday. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 47.80. The business has a 50-day moving average price of $19.39 and a two-hundred day moving average price of $21.75. Finance of America Companies has a 12-month low of $15.77 and a 12-month high of $29.58. The firm has a market cap of $150.94 million, a P/E ratio of 9.05 and a beta of 1.70.

Finance of America Companies (NYSE:FOA) last issued its quarterly earnings results on Tuesday, March 10th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.04. Finance of America Companies had a return on equity of 10.30% and a net margin of 9.09%.The firm had revenue of $73.51 million during the quarter, compared to analyst estimates of $109.45 million. Equities analysts anticipate that Finance of America Companies will post 0.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other Finance of America Companies news, CIO Jeremy Prahm sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $17.50, for a total transaction of $105,000.00. Following the completion of the transaction, the executive owned 167,294 shares of the company’s stock, valued at $2,927,645. This represents a 3.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Tai A. Thornock sold 1,100 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $24.58, for a total value of $27,038.00. Following the transaction, the chief accounting officer directly owned 10,650 shares of the company’s stock, valued at $261,777. The trade was a 9.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 3,200,134 shares of company stock worth $32,067,351. 25.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cooperman Leon G raised its position in Finance of America Companies by 0.8% during the 3rd quarter. Cooperman Leon G now owns 1,286,040 shares of the company’s stock valued at $28,846,000 after purchasing an additional 10,628 shares during the last quarter. Beach Point Capital Management LP raised its position in 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 valued at $19,111,000 after purchasing an additional 669,336 shares during the last quarter. Invesco Ltd. bought a new position in Finance of America Companies during the 3rd quarter valued at approximately $3,147,000. Geode Capital Management LLC raised its position in 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 purchasing an additional 54,429 shares during the last quarter. Finally, Purpose Unlimited Inc. bought a new position in Finance of America Companies during the 4th 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.