Insider Buying: Finance of America Companies (NYSE:FOA) Major Shareholder Purchases $1,325,250.00 in Stock

Finance of America Companies Inc. (NYSE:FOA) major shareholder Edmond Safra bought 75,000 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was bought at an average cost of $17.67 per share, for a total transaction of $1,325,250.00. Following the acquisition, the insider owned 520,188 shares of the company’s stock, valued at approximately $9,191,721.96. This trade represents a 16.85% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Finance of America Companies Stock Performance

NYSE:FOA opened at $24.17 on Monday. The firm’s fifty day moving average price is $20.42 and its 200 day moving average price is $20.81. Finance of America Companies Inc. has a 1-year low of $15.77 and a 1-year high of $29.58. The company has a debt-to-equity ratio of 43.57, a current ratio of 2.62 and a quick ratio of 2.62. The firm has a market cap of $214.86 million, a price-to-earnings ratio of 60.42 and a beta of 1.67.

Finance of America Companies (NYSE:FOA) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.26. Finance of America Companies had a net margin of 7.20% and a return on equity of 22.24%. The company had revenue of $120.14 million during the quarter, compared to the consensus estimate of $115.31 million. On average, sell-side analysts expect that Finance of America Companies Inc. will post 4.59 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Beach Point Capital Management LP increased its holdings 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 valued at $19,111,000 after buying an additional 669,336 shares in the last quarter. Invesco Ltd. acquired a new stake in shares of Finance of America Companies in the 3rd quarter worth approximately $3,147,000. Purpose Unlimited Inc. purchased a new position in Finance of America Companies in the 4th quarter valued at approximately $2,325,000. Russell Investments Group Ltd. increased its stake in Finance of America Companies by 5,866.5% in the 4th quarter. Russell Investments Group Ltd. now owns 77,445 shares of the company’s stock valued at $1,875,000 after purchasing an additional 76,147 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in Finance of America Companies by 239.3% during the third quarter. Two Sigma Investments LP now owns 88,888 shares of the company’s stock worth $1,994,000 after purchasing an additional 62,687 shares during the last quarter. 97.20% of the stock is currently owned by institutional investors and hedge funds.

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.