Finance of America Companies Inc. (NYSE:FOA) Receives Average Recommendation of “Hold” from Brokerages

Shares of Finance of America Companies Inc. (NYSE:FOA) have received an average rating of “Hold” from the five ratings firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $30.50.

FOA has been the subject of several recent research reports. Alliance Global Partners assumed coverage on Finance of America Companies in a report on Wednesday, July 22nd. They set a “buy” rating and a $30.00 target price for the company. Zacks Research downgraded Finance of America Companies from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Wall Street Zen lowered Finance of America Companies from a “hold” rating to a “sell” rating in a research report on Saturday, September 12th. B. Riley Financial restated a “buy” rating and set a $32.00 price objective (up from $25.00) on shares of Finance of America Companies in a research note on Wednesday, August 5th. Finally, Weiss Ratings lowered Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th.

Finance of America Companies Trading Down 1.4%

NYSE FOA opened at $14.56 on Thursday. Finance of America Companies has a one year low of $14.52 and a one year high of $29.79. The company has a 50-day simple moving average of $20.92 and a 200-day simple moving average of $20.38. The company has a debt-to-equity ratio of 60.78, a quick ratio of 3.02 and a current ratio of 3.02. The firm has a market capitalization of $251.96 million, a PE ratio of -4.84 and a beta of 1.65.

Finance of America Companies (NYSE:FOA) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.20). Finance of America Companies had a positive return on equity of 28.39% and a negative net margin of 0.10%.The business had revenue of $62.48 million for the quarter, compared to analyst estimates of $121.94 million. On average, equities analysts forecast that Finance of America Companies will post 4.16 earnings per share for the current year.

Insider Activity

In other news, CIO Jeremy Prahm sold 6,000 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $16.82, for a total transaction of $100,920.00. Following the completion of the transaction, the executive owned 167,856 shares in the company, valued at approximately $2,823,337.92. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 26,250 shares of company stock worth $535,470 over the last three months. Insiders own 35.37% of the company’s stock.

Institutional Trading of Finance of America Companies

Several hedge funds have recently bought and sold shares of the company. Beach Point Capital Management LP raised its holdings in shares of Finance of America Companies by 557.5% during the fourth quarter. Beach Point Capital Management LP now owns 789,399 shares of the company’s stock valued at $19,111,000 after buying an additional 669,336 shares during the last quarter. Purpose Unlimited Inc. acquired a new position in shares of Finance of America Companies during the fourth quarter worth approximately $2,325,000. Dimensional Fund Advisors LP grew its holdings in 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 worth $1,694,000 after buying an additional 36,929 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Finance of America Companies in the 2nd quarter worth approximately $240,000. Finally, First Trust Advisors LP increased 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 acquiring an additional 5,236 shares during the period. 97.20% of the stock is currently owned by institutional investors.

Finance of America Companies Company Profile

Finance of America Companies Inc (NYSE: FOA) is a financial services company focused on helping homeowners access and manage the value of their homes. The company’s primary business is its retirement solutions platform, which provides home-equity products designed to support financial planning and cash-flow needs for older homeowners.

Finance of America’s offerings include reverse mortgage products, including federally insured Home Equity Conversion Mortgages, as well as proprietary reverse mortgage solutions.