Purpose Unlimited Inc. Buys New Position in Finance of America Companies Inc. $FOA

Purpose Unlimited Inc. purchased a new stake in Finance of America Companies Inc. (NYSE:FOA) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 96,021 shares of the company’s stock, valued at approximately $2,325,000. Purpose Unlimited Inc. owned about 1.22% of Finance of America Companies as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Beach Point Capital Management LP increased 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 acquiring an additional 669,336 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Finance of America Companies by 1,815.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 40,194 shares of the company’s stock valued at $902,000 after purchasing an additional 38,096 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in Finance of America Companies in the 3rd quarter worth approximately $553,000. Caitong International Asset Management Co. Ltd boosted its stake in Finance of America Companies by 183.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company’s stock worth $28,000 after purchasing an additional 822 shares in the last quarter. Finally, Cooperman Leon G grew its position in Finance of America Companies by 0.8% during the 3rd quarter. Cooperman Leon G now owns 1,286,040 shares of the company’s stock worth $28,846,000 after purchasing an additional 10,628 shares during the last quarter. Institutional investors and hedge funds own 97.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Zacks Research upgraded shares of Finance of America Companies to a “hold” rating in a research note on Monday, April 6th. B. Riley Financial initiated coverage on shares of Finance of America Companies in a research note on Thursday, April 2nd. They set a “buy” rating and a $22.50 price objective for the company. Wall Street Zen raised shares of Finance of America Companies from a “sell” rating to a “hold” rating in a report on Monday, April 6th. Finally, Weiss Ratings raised Finance of America Companies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $26.00.

Insider Buying and Selling

In other Finance of America Companies news, CIO Jeremy Prahm sold 8,860 shares of Finance of America Companies stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $20.49, for a total transaction of $181,541.40. Following the completion of the sale, the executive directly owned 203,856 shares in the company, valued at approximately $4,177,009.44. The trade was a 4.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 38,066 shares of company stock worth $760,196. Insiders own 33.10% of the company’s stock.

Finance of America Companies Trading Down 0.4%

Shares of NYSE:FOA opened at $19.98 on Friday. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 43.57. Finance of America Companies Inc. has a 52-week low of $15.77 and a 52-week high of $29.58. The stock has a market cap of $177.58 million, a price-to-earnings ratio of 49.94 and a beta of 1.67. The business has a 50-day moving average price of $20.26 and a 200-day moving average price of $20.86.

Finance of America Companies (NYSE:FOA) last issued its earnings results on Tuesday, May 5th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.26. Finance of America Companies had a return on equity of 22.24% and a net margin of 7.20%.The firm had revenue of $120.14 million for the quarter, compared to analyst estimates of $115.31 million. Equities analysts predict that Finance of America Companies Inc. will post 4.59 EPS for the current year.

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.