Finance of America Companies (NYSE:FOA) Coverage Initiated at B. Riley Financial

Analysts at B. Riley Financial initiated coverage on shares of Finance of America Companies (NYSE:FOA) in a report released on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $22.50 price target on the stock. B. Riley Financial’s price target indicates a potential upside of 26.68% from the stock’s current price.

Several other analysts also recently issued reports on the company. Wall Street Zen downgraded Finance of America Companies from a “hold” rating to a “sell” rating in a research report on Sunday, March 29th. Weiss Ratings reissued a “sell (d)” rating on shares of Finance of America Companies in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.00.

Finance of America Companies Trading Up 0.2%

Shares of Finance of America Companies stock opened at $17.76 on Thursday. The company has a debt-to-equity ratio of 47.80, a current ratio of 2.67 and a quick ratio of 2.67. Finance of America Companies has a 1 year low of $15.77 and a 1 year high of $29.58. The company has a market capitalization of $151.86 million, a P/E ratio of 9.11 and a beta of 1.70. The business has a 50 day moving average price of $19.62 and a 200 day moving average price of $21.89.

Finance of America Companies (NYSE:FOA) last announced its earnings results on Tuesday, March 10th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The firm had revenue of $73.51 million for the quarter, compared to analysts’ expectations of $109.45 million. Finance of America Companies had a return on equity of 10.30% and a net margin of 9.09%. Sell-side analysts anticipate that Finance of America Companies will post 0.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the company’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CIO Jeremy Prahm sold 6,000 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $17.50, for a total value of $105,000.00. Following the completion of the sale, the executive owned 167,294 shares of the company’s stock, valued at approximately $2,927,645. This trade represents a 3.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 3,200,134 shares of company stock valued at $32,067,351. Insiders own 25.00% of the company’s stock.

Hedge Funds Weigh In On Finance of America Companies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cooperman Leon G grew its position in Finance of America Companies by 0.8% in the third quarter. Cooperman Leon G now owns 1,286,040 shares of the company’s stock valued at $28,846,000 after acquiring an additional 10,628 shares in the last quarter. Beach Point Capital Management LP lifted its position 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 worth $19,111,000 after purchasing an additional 669,336 shares in the last quarter. Invesco Ltd. purchased a new position in shares of Finance of America Companies in the third quarter valued at $3,147,000. Geode Capital Management LLC grew its holdings in Finance of America Companies by 66.2% during the 2nd quarter. Geode Capital Management LLC now owns 136,672 shares of the company’s stock valued at $3,188,000 after purchasing an additional 54,429 shares in the last quarter. Finally, Purpose Unlimited Inc. acquired a new stake in Finance of America Companies during the 4th quarter valued at $2,325,000. Hedge funds and other institutional investors own 97.20% of the company’s stock.

Finance of America Companies Company Profile

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.