Finance of America Companies (NYSE:FOA) Rating Lowered to Sell at Wall Street Zen

Finance of America Companies (NYSE:FOA) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other brokerages also recently weighed in on FOA. B. Riley Financial reaffirmed a “buy” rating and set a $32.00 target price (up from $25.00) on shares of Finance of America Companies in a research note on Wednesday, August 5th. Weiss Ratings lowered shares of Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Alliance Global Partners assumed 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 for the company. Finally, Zacks Research cut shares of Finance of America Companies from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Finance of America Companies presently has an average rating of “Hold” and an average target price of $30.50.

Finance of America Companies Stock Up 0.1%

Shares of Finance of America Companies stock opened at $15.27 on Friday. The company’s fifty day simple moving average is $21.62 and its two-hundred day simple moving average is $20.48. The company has a market cap of $264.29 million, a P/E ratio of -5.07 and a beta of 1.65. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 60.78. Finance of America Companies has a 12-month low of $15.17 and a 12-month high of $29.79.

Finance of America Companies (NYSE:FOA) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). Finance of America Companies had a positive return on equity of 28.39% and a negative net margin of 0.10%.The company had revenue of $62.48 million during the quarter, compared to the consensus estimate of $121.94 million. Research analysts anticipate that Finance of America Companies will post 4.16 EPS for the current year.

Insider Buying and Selling at Finance of America Companies

In related news, CIO Jeremy Prahm sold 6,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $16.82, for a total transaction of $100,920.00. Following the transaction, the executive owned 167,856 shares in the company, valued at $2,823,337.92. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 26,250 shares of company stock worth $535,470 over the last three months. 35.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Finance of America Companies

A number of large investors have recently added to or reduced their stakes in FOA. Caitong International Asset Management Co. Ltd grew its holdings in shares of Finance of America Companies by 183.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company’s stock worth $28,000 after acquiring an additional 822 shares during the period. California State Teachers Retirement System lifted its holdings in Finance of America Companies by 440.4% in the second quarter. California State Teachers Retirement System now owns 1,486 shares of the company’s stock valued at $41,000 after acquiring an additional 1,211 shares during the period. Russell Investments Group Ltd. bought a new position in Finance of America Companies in the third quarter valued at about $29,000. Charles Schwab Investment Management Inc. boosted its position in Finance of America Companies by 8.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,241 shares of the company’s stock worth $442,000 after purchasing an additional 1,397 shares during the last quarter. Finally, Barclays PLC boosted its position in Finance of America Companies by 23.9% in the fourth quarter. Barclays PLC now owns 7,907 shares of the company’s stock worth $191,000 after purchasing an additional 1,525 shares during the last quarter. Institutional investors 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.