Finance of America Companies Inc. (NYSE:FOA) Stock Has Average Target Price of $30.50 According to Brokerages

Finance of America Companies Inc. (NYSE:FOA) has received an average recommendation of “Hold” from the five research firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $30.50.

Several research analysts have recently issued reports on FOA shares. Weiss Ratings downgraded shares of Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Alliance Global Partners began coverage on shares of Finance of America Companies in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $30.00 target price for the company. Wall Street Zen raised Finance of America Companies from a “sell” rating to a “hold” rating in a research report on Saturday, October 3rd. B. Riley Financial restated a “buy” rating and set a $32.00 price target (up from $25.00) on shares of Finance of America Companies in a research note on Wednesday, August 5th. Finally, Zacks Research lowered Finance of America Companies from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th.

Insider Activity at Finance of America Companies

In other news, CIO Jeremy Prahm sold 6,000 shares of Finance of America Companies stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $13.20, for a total transaction of $79,200.00. Following the sale, the executive owned 155,856 shares of the company’s stock, valued at approximately $2,057,299.20. This trade represents a 3.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 38,250 shares of company stock valued at $687,428. 35.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Finance of America Companies

A number of hedge funds have recently made changes to their positions in FOA. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Finance of America Companies by 160.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,304 shares of the company’s stock worth $80,000 after acquiring an additional 2,035 shares during the period. First Trust Advisors LP boosted its position in shares of Finance of America Companies by 43.7% during the 1st quarter. First Trust Advisors LP now owns 17,210 shares of the company’s stock valued at $286,000 after acquiring an additional 5,236 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Finance of America Companies during the 1st quarter valued at about $90,000. Dimensional Fund Advisors LP increased its stake in Finance of America Companies by 56.7% in the first quarter. Dimensional Fund Advisors LP now owns 102,061 shares of the company’s stock valued at $1,694,000 after acquiring an additional 36,929 shares during the period. Finally, Purpose Unlimited Inc. bought a new stake in Finance of America Companies in the fourth quarter valued at about $2,325,000. Institutional investors and hedge funds own 97.20% of the company’s stock.

Finance of America Companies Trading Down 0.5%

Shares of Finance of America Companies stock opened at $12.75 on Monday. The company has a market cap of $220.70 million, a price-to-earnings ratio of -4.24 and a beta of 1.68. Finance of America Companies has a 1 year low of $12.15 and a 1 year high of $29.79. The company’s fifty day simple moving average is $17.36 and its 200-day simple moving average is $19.89. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 60.78.

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

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.