Finance of America Companies (NYSE:FOA) Raised to Hold at Wall Street Zen

Finance of America Companies (NYSE:FOA) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

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

Finance of America Companies Trading Down 0.2%

NYSE FOA opened at $13.47 on Friday. The company has a debt-to-equity ratio of 60.78, a quick ratio of 3.02 and a current ratio of 3.02. The firm has a market cap of $233.25 million, a PE ratio of -4.48 and a beta of 1.68. Finance of America Companies has a one year low of $12.15 and a one year high of $29.79. The firm’s fifty day moving average is $18.42 and its two-hundred day moving average is $20.05.

Finance of America Companies (NYSE:FOA) last announced its earnings results on Tuesday, August 4th. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.20). The business had revenue of $62.48 million for the quarter, compared to analyst estimates of $121.94 million. Finance of America Companies had a positive return on equity of 28.39% and a negative net margin of 0.10%. Analysts expect that Finance of America Companies will post 3.87 earnings per share for the current year.

Insider Activity

In other news, CIO Jeremy Prahm sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $13.98, for a total value of $83,880.00. Following the completion of the sale, the executive directly owned 161,856 shares of the company’s stock, valued at $2,262,746.88. This trade represents a 3.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 31,500 shares of company stock worth $598,830. Corporate insiders own 35.37% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Purpose Unlimited Inc. acquired a new position in shares of Finance of America Companies during the 4th quarter worth $2,325,000. Dimensional Fund Advisors LP boosted its holdings in Finance of America Companies by 56.7% during the first quarter. Dimensional Fund Advisors LP now owns 102,061 shares of the company’s stock worth $1,694,000 after buying an additional 36,929 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Finance of America Companies during the second quarter worth about $240,000. First Trust Advisors LP increased its holdings in Finance of America Companies by 43.7% in the first quarter. First Trust Advisors LP now owns 17,210 shares of the company’s stock valued at $286,000 after buying an additional 5,236 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Finance of America Companies by 160.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,304 shares of the company’s stock valued at $80,000 after buying an additional 2,035 shares in the last quarter. Hedge funds and other institutional investors own 97.20% of the company’s stock.

About Finance of America Companies

Finance of America Companies, Inc (NYSE: FOA) is a financial services company focused on helping older homeowners use their home equity as part of a broader retirement strategy. Through its subsidiaries, the company provides reverse mortgage products and related solutions designed to help homeowners access cash, supplement retirement income, manage expenses or remain in their homes.

The company’s reverse mortgage business, Finance of America Reverse, offers federally insured Home Equity Conversion Mortgages as well as proprietary reverse mortgage products, including HomeSafe.