Finance of America Companies (NYSE:FOA) Major Shareholder Acquires $822,000.00 in Stock

Finance of America Companies Inc. (NYSE:FOA) major shareholder Edmond Safra bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average price of $16.44 per share, for a total transaction of $822,000.00. Following the acquisition, the insider directly owned 445,188 shares of the company’s stock, valued at $7,318,890.72. The trade was a 12.65% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Finance of America Companies Stock Performance

NYSE:FOA traded up $0.80 during trading hours on Friday, reaching $22.46. The company had a trading volume of 2,798 shares, compared to its average volume of 78,975. The firm has a market cap of $199.67 million, a price-to-earnings ratio of 56.15 and a beta of 1.67. The company has a current ratio of 2.62, a quick ratio of 2.62 and a debt-to-equity ratio of 43.57. The firm’s 50 day moving average price is $20.38 and its 200-day moving average price is $20.80. Finance of America Companies Inc. has a 52 week low of $15.77 and a 52 week high of $29.58.

Finance of America Companies (NYSE:FOA) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $120.14 million for the quarter, compared to the consensus estimate of $115.31 million. On average, analysts forecast that Finance of America Companies Inc. will post 4.59 EPS for the current year.

Institutional Trading of Finance of America Companies

Several hedge funds have recently bought and sold shares of FOA. Beach Point Capital Management LP increased its position 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 worth $19,111,000 after buying an additional 669,336 shares in the last quarter. Invesco Ltd. bought a new position in shares of Finance of America Companies during the 3rd quarter valued at approximately $3,147,000. Purpose Unlimited Inc. bought a new position in shares of Finance of America Companies during the 4th quarter valued at approximately $2,325,000. Russell Investments Group Ltd. increased its holdings in Finance of America Companies by 5,866.5% in the 4th quarter. Russell Investments Group Ltd. now owns 77,445 shares of the company’s stock worth $1,875,000 after acquiring an additional 76,147 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in Finance of America Companies by 239.3% in the 3rd quarter. Two Sigma Investments LP now owns 88,888 shares of the company’s stock worth $1,994,000 after acquiring an additional 62,687 shares in the last quarter. Institutional investors own 97.20% of the company’s stock.

Analysts Set New Price Targets

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

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.