Tactical Opportunit Blackstone Sells 1,596,142 Shares of Finance of America Companies (NYSE:FOA) Stock

Finance of America Companies Inc. (NYSE:FOA) major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. Following the sale, the insider directly owned 2,161 shares of the company’s stock, valued at $21,610. The trade was a 99.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Finance of America Companies Stock Performance

Shares of NYSE FOA traded up $0.21 during trading hours on Monday, hitting $22.72. 100,848 shares of the stock were exchanged, compared to its average volume of 116,325. Finance of America Companies Inc. has a one year low of $16.58 and a one year high of $32.40. The company’s 50 day moving average is $22.64 and its 200 day moving average is $23.57. The company has a debt-to-equity ratio of 51.28, a current ratio of 2.64 and a quick ratio of 2.64. The firm has a market capitalization of $179.22 million, a P/E ratio of -8.54 and a beta of 1.62.

Finance of America Companies (NYSE:FOA) last released its earnings results on Friday, August 18th. The company reported $0.12 earnings per share for the quarter. On average, research analysts expect that Finance of America Companies Inc. will post 0.75 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd lifted its holdings in Finance of America Companies by 183.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company’s stock valued at $28,000 after purchasing an additional 822 shares during the last quarter. Cooperman Leon G increased its holdings 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 worth $28,846,000 after buying an additional 10,628 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Finance of America Companies by 239.3% in the third quarter. Two Sigma Investments LP now owns 88,888 shares of the company’s stock valued at $1,994,000 after acquiring an additional 62,687 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Finance of America Companies in the 3rd quarter worth approximately $475,000. Finally, Invesco Ltd. bought a new stake in Finance of America Companies during the 3rd quarter worth approximately $3,147,000. Institutional investors and hedge funds own 97.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. UBS Group set a $29.50 price target on shares of Finance of America Companies and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Weiss Ratings restated a “sell (d)” rating on shares of Finance of America Companies in a research note on Tuesday, December 2nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Finance of America Companies has an average rating of “Hold” and a consensus target price of $29.75.

About Finance of America Companies

Finance of America Companies Inc a financial service holding company, through its subsidiaries, engages in the operation of a retirement solutions platform in the United States. It operates through two segments: Retirement Solutions and Portfolio Management. The Retirement Solutions segment engages in the loan origination activities comprising home equity conversion, proprietary reverse, and hybrid mortgage loans for senior homeowners.