Finance of America Companies (NYSE:FOA) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of Finance of America Companies (NYSE:FOA) from a hold rating to a strong sell rating in a research report report published on Tuesday morning,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Weiss Ratings downgraded Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday. B. Riley Financial restated a “buy” rating and issued a $32.00 price objective (up from $25.00) on shares of Finance of America Companies in a research note on Wednesday, August 5th. Alliance Global Partners initiated coverage on shares of Finance of America Companies in a report on Wednesday, July 22nd. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Wall Street Zen lowered shares of Finance of America Companies from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.50.

Finance of America Companies Stock Performance

FOA opened at $22.30 on Tuesday. The company has a market cap of $198.25 million, a PE ratio of -7.41 and a beta of 1.65. The stock has a 50-day moving average of $23.11 and a 200-day moving average of $21.04. Finance of America Companies has a 52-week low of $15.77 and a 52-week high of $29.79. The company has a debt-to-equity ratio of 43.57, a quick ratio of 2.62 and a current ratio of 2.62.

Finance of America Companies (NYSE:FOA) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). Finance of America Companies had a negative net margin of 0.10% and a positive return on equity of 28.51%. The company had revenue of $62.48 million for the quarter, compared to analyst estimates of $121.94 million. As a group, equities research analysts forecast that Finance of America Companies will post 4.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CIO Jeremy Prahm sold 8,860 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $20.49, for a total value of $181,541.40. Following the completion of the sale, the executive directly owned 203,856 shares of the company’s stock, valued at approximately $4,177,009.44. This represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 28,360 shares of company stock valued at $601,789. Insiders own 35.37% of the company’s stock.

Hedge Funds Weigh In On Finance of America Companies

Several large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd boosted its holdings 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 valued at $28,000 after purchasing an additional 822 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Finance of America Companies during the 3rd quarter worth about $29,000. JPMorgan Chase & Co. raised its position in shares of Finance of America Companies by 4,270.8% during 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 last quarter. Bank of America Corp DE raised its position in shares of Finance of America Companies by 3,503.1% during 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 last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Finance of America Companies in the second quarter valued at about $57,000. 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.