96,021 Shares in Finance of America Companies Inc. $FOA Purchased by Purpose Unlimited Inc.

Purpose Unlimited Inc. purchased a new stake in shares of Finance of America Companies Inc. (NYSE:FOA) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 96,021 shares of the company’s stock, valued at approximately $2,325,000.

A number of other large investors also recently bought and sold shares of the stock. Beach Point Capital Management LP boosted its position in Finance of America Companies by 557.5% in the 4th quarter. Beach Point Capital Management LP now owns 789,399 shares of the company’s stock worth $19,111,000 after purchasing an additional 669,336 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Finance of America Companies by 1,815.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 40,194 shares of the company’s stock valued at $902,000 after purchasing an additional 38,096 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Finance of America Companies during the 3rd quarter valued at approximately $553,000. First Trust Advisors LP acquired a new position in shares of Finance of America Companies in the 3rd quarter valued at $368,000. Finally, Corient IA LLC lifted its stake in shares of Finance of America Companies by 44.1% in the 3rd quarter. Corient IA LLC now owns 80,000 shares of the company’s stock valued at $1,794,000 after purchasing an additional 24,500 shares during the period. 97.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FOA. Wall Street Zen raised shares of Finance of America Companies from a “sell” rating to a “hold” rating in a report on Monday, April 6th. Zacks Research raised shares of Finance of America Companies to a “hold” rating in a report on Monday, April 6th. B. Riley Financial initiated coverage on shares of Finance of America Companies in a research report on Thursday, April 2nd. They issued a “buy” rating and a $22.50 price objective for the company. Finally, Weiss Ratings raised shares of Finance of America Companies from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Finance of America Companies presently has an average rating of “Hold” and a consensus target price of $26.00.

Finance of America Companies Price Performance

Shares of Finance of America Companies stock opened at $19.98 on Friday. The business has a 50 day simple moving average of $20.26 and a two-hundred day simple moving average of $20.86. Finance of America Companies Inc. has a 12 month low of $15.77 and a 12 month high of $29.58. The stock has a market capitalization of $177.58 million, a P/E ratio of 49.94 and a beta of 1.67. The company has a debt-to-equity ratio of 43.57, a current ratio of 2.62 and a quick ratio of 2.62.

Finance of America Companies (NYSE:FOA) last released 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. Finance of America Companies had a return on equity of 22.24% and a net margin of 7.20%.The business had revenue of $120.14 million for the quarter, compared to the consensus estimate of $115.31 million. As a group, analysts predict that Finance of America Companies Inc. will post 4.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other Finance of America Companies news, CIO Jeremy Prahm sold 8,860 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $20.49, for a total value of $181,541.40. Following the transaction, the executive owned 203,856 shares in the company, valued at approximately $4,177,009.44. This trade represents a 4.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 38,066 shares of company stock valued at $760,196. Company insiders own 33.10% 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.