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

Finance of America Companies (NYSE:FOA) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other research analysts have also commented on the company. Zacks Research upgraded Finance of America Companies to a “hold” rating in a research report on Monday, April 6th. Weiss Ratings raised Finance of America Companies from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. Alliance Global Partners started coverage on Finance of America Companies in a report on Wednesday. They set a “buy” rating and a $30.00 target price for the company. Finally, B. Riley Financial assumed coverage on Finance of America Companies in a research report on Thursday, April 2nd. They issued a “buy” rating and a $22.50 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Finance of America Companies has an average rating of “Hold” and an average target price of $27.33.

Finance of America Companies Stock Performance

Shares of FOA stock opened at $22.92 on Friday. The company has a debt-to-equity ratio of 43.57, a quick ratio of 2.62 and a current ratio of 2.62. The firm has a market cap of $203.72 million, a P/E ratio of 57.29 and a beta of 1.62. The firm’s 50 day moving average price is $22.22 and its 200-day moving average price is $21.14. Finance of America Companies has a one year low of $15.77 and a one year high of $29.79.

Finance of America Companies (NYSE:FOA) last posted its earnings results on Tuesday, May 5th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.26. The firm had revenue of $120.14 million during the quarter, compared to the consensus estimate of $115.31 million. Finance of America Companies had a net margin of 7.20% and a return on equity of 22.24%. As a group, equities research analysts predict that Finance of America Companies will post 4.59 EPS for the current year.

Insider Buying and Selling

In other Finance of America Companies news, CIO Jeremy Prahm sold 8,860 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $20.49, for a total value of $181,541.40. Following the completion of the transaction, the executive owned 203,856 shares in the company, valued at $4,177,009.44. The trade was a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 20,838 shares of company stock valued at $431,968. Company insiders own 35.37% of the company’s stock.

Institutional Inflows and Outflows

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

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.