Finance of America Companies (NYSE:FOA) Upgraded at Zacks Research

Zacks Research upgraded shares of Finance of America Companies (NYSE:FOA) to a hold rating in a research note published on Monday morning,Zacks.com reports.

A number of other equities research analysts also recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Finance of America Companies in a research report on Monday, December 29th. Wall Street Zen upgraded Finance of America Companies from a “sell” rating to a “hold” rating in a research report on Monday. Finally, B. Riley Financial started coverage on Finance of America Companies in a research report on Thursday, April 2nd. They issued a “buy” rating and a $22.50 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Finance of America Companies has a consensus rating of “Hold” and an average price target of $26.00.

Finance of America Companies Price Performance

NYSE:FOA opened at $18.47 on Monday. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 47.80. The company has a market capitalization of $157.89 million, a P/E ratio of 9.47 and a beta of 1.70. Finance of America Companies has a 12 month low of $15.77 and a 12 month high of $29.58. The business’s 50-day moving average is $19.29 and its 200 day moving average is $21.72.

Finance of America Companies (NYSE:FOA) last posted its earnings results on Tuesday, March 10th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The company had revenue of $73.51 million for the quarter, compared to the consensus estimate of $109.45 million. Finance of America Companies had a return on equity of 10.30% and a net margin of 9.09%. On average, equities research analysts forecast that Finance of America Companies will post 0.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Tai A. Thornock sold 1,100 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $24.58, for a total transaction of $27,038.00. Following the transaction, the chief accounting officer owned 10,650 shares of the company’s stock, valued at approximately $261,777. This represents a 9.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CIO Jeremy Prahm sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $17.50, for a total value of $105,000.00. Following the transaction, the executive directly owned 167,294 shares in the company, valued at approximately $2,927,645. This represents a 3.46% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 3,205,362 shares of company stock worth $32,160,566. Corporate insiders own 25.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Cooperman Leon G grew its stake in shares of Finance of America Companies by 0.8% during the third quarter. Cooperman Leon G now owns 1,286,040 shares of the company’s stock valued at $28,846,000 after buying an additional 10,628 shares during the last quarter. Beach Point Capital Management LP grew its stake 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 purchasing an additional 669,336 shares in the last quarter. Invesco Ltd. bought a new position in Finance of America Companies in the third quarter worth approximately $3,147,000. Geode Capital Management LLC grew its stake in Finance of America Companies by 66.2% in the second quarter. Geode Capital Management LLC now owns 136,672 shares of the company’s stock worth $3,188,000 after purchasing an additional 54,429 shares in the last quarter. Finally, Purpose Unlimited Inc. bought a new position in Finance of America Companies in the fourth quarter worth approximately $2,325,000. Institutional investors own 97.20% 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.