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

Wall Street Zen lowered shares of Finance of America Companies (NYSE:FOA) from a hold rating to a sell rating in a research note released on Saturday morning,Wall Street Zen reports.

Other analysts also recently issued reports about the company. Alliance Global Partners assumed coverage on Finance of America Companies in a report on Wednesday, July 22nd. They set a “buy” rating and a $30.00 price target for the company. B. Riley Financial reissued a “buy” rating and issued a $32.00 price objective (up from $25.00) on shares of Finance of America Companies in a research report on Wednesday, August 5th. Weiss Ratings downgraded Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Finally, Zacks Research upgraded Finance of America Companies from a “strong sell” rating to a “hold” rating in a research report on Monday, November 2nd. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.50.

Finance of America Companies Trading Down 0.4%

FOA opened at $12.69 on Friday. Finance of America Companies has a twelve month low of $9.71 and a twelve month high of $29.79. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 60.78. The company has a fifty day moving average of $13.33 and a 200-day moving average of $19.07. The stock has a market cap of $219.68 million, a PE ratio of -1.63 and a beta of 1.77.

Finance of America Companies (NYSE:FOA) last announced its earnings results on Tuesday, November 3rd. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.98). The firm had revenue of $89.17 million for the quarter, compared to the consensus estimate of $132.34 million. Finance of America Companies had a positive return on equity of 19.87% and a negative net margin of 0.10%. On average, sell-side analysts predict that Finance of America Companies will post 3.87 EPS for the current year.

Insider Transactions at Finance of America Companies

In other Finance of America Companies news, CIO Jeremy Prahm sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $13.20, for a total transaction of $79,200.00. Following the completion of the sale, the executive directly owned 155,856 shares of the company’s stock, valued at approximately $2,057,299.20. The trade was a 3.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 31,110 shares of company stock worth $466,031. 35.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio bought a new stake in Finance of America Companies during the first quarter worth $90,000. Ritholtz Wealth Management purchased a new stake in Finance of America Companies in the 3rd quarter valued at $198,000. First Trust Advisors LP raised its position in Finance of America Companies by 43.7% in the 1st quarter. First Trust Advisors LP now owns 17,210 shares of the company’s stock valued at $286,000 after buying an additional 5,236 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Finance of America Companies by 140.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 32,246 shares of the company’s stock valued at $408,000 after acquiring an additional 18,819 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. lifted its stake in Finance of America Companies by 17.8% during the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 66,206 shares of the company’s stock valued at $837,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors own 97.20% of the company’s stock.

Finance of America Companies Company Profile

Finance of America Companies Inc (NYSE:FOA) is a financial services company focused on helping homeowners access and manage home equity. Its primary business is conducted through Finance of America Reverse, which provides reverse mortgage products and related services to older homeowners.

The company offers federally insured Home Equity Conversion Mortgages (HECMs), proprietary reverse mortgage products and reverse mortgage refinancing solutions. These products generally allow eligible homeowners to convert a portion of their home equity into funds while continuing to live in their homes, subject to applicable loan terms, taxes, insurance and maintenance requirements.