Wall Street Zen Downgrades Finance of America Companies (NYSE:FOA) to Sell

Finance of America Companies (NYSE:FOA) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

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

Finance of America Companies Stock Performance

Shares of NYSE FOA opened at $17.69 on Friday. The firm has a market capitalization of $139.57 million, a price-to-earnings ratio of -6.65 and a beta of 1.65. Finance of America Companies has a one year low of $16.58 and a one year high of $29.58. The business has a fifty day simple moving average of $22.27 and a 200 day simple moving average of $23.23. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 51.28.

Insider Activity at Finance of America Companies

In other Finance of America Companies news, CAO Tai A. Thornock sold 1,100 shares of the company’s stock in a transaction 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 sale, the chief accounting officer directly owned 10,650 shares in the company, valued at $261,777. This represents a 9.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Finance of America Companies stock in a transaction on Friday, February 27th. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,195,234 shares of company stock valued at $31,993,357 in the last 90 days. 25.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Finance of America Companies

Institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its stake in Finance of America Companies by 183.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company’s stock worth $28,000 after buying an additional 822 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Finance of America Companies in the second quarter valued at approximately $29,000. Russell Investments Group Ltd. bought a new position in shares of Finance of America Companies in the third quarter valued at approximately $29,000. JPMorgan Chase & Co. boosted its holdings in shares of Finance of America Companies by 4,270.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,098 shares of the company’s stock worth $49,000 after acquiring an additional 2,050 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Finance of America Companies in the 2nd quarter worth approximately $57,000. 97.20% of the stock is owned by 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.