Finance of America Companies (NYSE:FOA) Shares Down 8.7% – Here’s Why

Finance of America Companies Inc. (NYSE:FOA)’s share price fell 8.7% on Monday . The company traded as low as $18.37 and last traded at $19.1160. 145,583 shares were traded during mid-day trading, an increase of 108% from the average session volume of 70,025 shares. The stock had previously closed at $20.93.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Finance of America Companies in a research report on Monday, December 29th. UBS Group set a $29.50 price target on Finance of America Companies and gave the company a “neutral” rating in a report on Wednesday, November 26th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Finance of America Companies presently has an average rating of “Hold” and an average target price of $29.75.

Finance of America Companies Stock Down 8.7%

The firm’s 50 day simple moving average is $22.99 and its 200-day simple moving average is $23.71. The company has a market cap of $150.83 million, a price-to-earnings ratio of -7.19 and a beta of 1.62. The company has a debt-to-equity ratio of 51.28, a current ratio of 2.64 and a quick ratio of 2.64.

Insider Activity at Finance of America Companies

In related news, major shareholder Urban Holdings L.L.C. Bto sold 1,596,142 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the transaction, the insider owned 2,161 shares in the company, valued at $21,610. This trade represents a 99.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Tai A. Thornock sold 1,100 shares of Finance of America Companies stock in a transaction that occurred on Friday, January 16th. The stock was 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 in the company, valued at approximately $261,777. This trade represents a 9.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,195,984 shares of company stock valued at $32,010,982 in the last three months. 25.00% of the stock is currently owned by company insiders.

Institutional Trading of Finance of America Companies

Institutional investors and hedge funds have recently bought and sold shares of the business. Cooperman Leon G boosted its stake 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 worth $28,846,000 after purchasing an additional 10,628 shares during the period. Beach Point Capital Management LP increased its stake in 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. purchased a new stake in shares of Finance of America Companies in the third quarter valued at about $3,147,000. Geode Capital Management LLC boosted its stake in shares of Finance of America Companies by 66.2% during the second quarter. Geode Capital Management LLC now owns 136,672 shares of the company’s stock worth $3,188,000 after buying an additional 54,429 shares during the period. Finally, Two Sigma Investments LP boosted its stake in shares of Finance of America Companies by 239.3% during the third quarter. Two Sigma Investments LP now owns 88,888 shares of the company’s stock worth $1,994,000 after buying an additional 62,687 shares during the period. Hedge funds and other 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.