Zacks Research Downgrades Finance of America Companies (NYSE:FOA) to Strong Sell

Finance of America Companies (NYSE:FOA) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the stock. B. Riley Financial reissued a “buy” rating and set a $32.00 target price (up from $25.00) on shares of Finance of America Companies in a report on Wednesday, August 5th. Alliance Global Partners began coverage on shares of Finance of America Companies in a research note on Wednesday, July 22nd. They set a “buy” rating and a $30.00 price target for the company. Weiss Ratings lowered shares of Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday. Finally, Wall Street Zen cut shares of Finance of America Companies from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $30.50.

Finance of America Companies Price Performance

Shares of FOA opened at $22.30 on Tuesday. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 43.57. The stock has a market cap of $198.25 million, a PE ratio of -7.41 and a beta of 1.65. Finance of America Companies has a 12-month low of $15.77 and a 12-month high of $29.79. The business has a 50-day simple moving average of $23.11 and a two-hundred day simple moving average of $21.04.

Finance of America Companies (NYSE:FOA) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.20). The firm had revenue of $62.48 million for the quarter, compared to the consensus estimate of $121.94 million. Finance of America Companies had a positive return on equity of 28.51% and a negative net margin of 0.10%. Analysts anticipate that Finance of America Companies will post 4.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Finance of America Companies news, CIO Jeremy Prahm sold 6,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $21.73, for a total transaction of $130,380.00. Following the completion of the sale, the executive owned 179,856 shares of the company’s stock, valued at approximately $3,908,270.88. This represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,360 shares of company stock valued at $601,789 in the last quarter. Corporate insiders own 35.37% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FOA. Caitong International Asset Management Co. Ltd increased its position in shares of 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 period. Russell Investments Group Ltd. acquired a new position in Finance of America Companies in the third quarter valued at $29,000. JPMorgan Chase & Co. lifted its holdings in Finance of America Companies by 4,270.8% in the second quarter. JPMorgan Chase & Co. now owns 2,098 shares of the company’s stock valued at $49,000 after buying an additional 2,050 shares during the period. Bank of America Corp DE lifted its holdings in Finance of America Companies by 3,503.1% in the fourth quarter. Bank of America Corp DE now owns 2,306 shares of the company’s stock valued at $65,000 after buying an additional 2,242 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Finance of America Companies during the second quarter valued at $57,000. Institutional investors and hedge funds 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.