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

Key Points

• Wall Street Zen downgraded Finance of America Companies to “Sell” from “Hold.” Other analyst views remain mixed, with a consensus “Hold” rating and a $30.50 target price.
• FOA shares opened at $15.27, near their 12-month low of $15.17 and well below their 50-day moving average of $21.62. The company’s latest quarterly results also missed expectations, reporting $0.84 in EPS versus the $1.04 consensus and revenue of $62.48 million versus $121.94 million expected.
• Insiders have sold 35,110 shares worth approximately $717,000 over the past 90 days, while institutional investors own 97.20% of the company.

Finance of America Companies (NYSE:FOA - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other analysts have 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 issued a "buy" rating and a $30.00 target price on the stock. B. Riley Financial restated a "buy" rating and set a $32.00 price target (up from $25.00) on shares of Finance of America Companies in a report on Wednesday, August 5th. Weiss Ratings downgraded shares of Finance of America Companies from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, August 11th. Finally, Zacks Research lowered shares of Finance of America Companies from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $30.50.

Finance of America Companies Stock Down 2.4%

Shares of FOA opened at $15.27 on Friday. The stock's 50-day moving average price is $21.62 and its two-hundred day moving average price is $20.47. Finance of America Companies has a 12 month low of $15.17 and a 12 month high of $29.79. The company has a market capitalization of $264.29 million, a PE 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 (NYSE:FOA - Get Free Report) last issued 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). Finance of America Companies had a negative net margin of 0.10% and a positive return on equity of 28.39%. The company had revenue of $62.48 million during the quarter, compared to analyst estimates of $121.94 million. On average, analysts anticipate that Finance of America Companies will post 4.16 EPS for the current year.

Insiders Place Their Bets

In other news, CIO Jeremy Prahm sold 6,000 shares of the stock in a transaction dated 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 of the company's stock, valued at $2,823,337.92. This represents a 3.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 35,110 shares of company stock valued at $717,011 over the last ninety days. Insiders own 35.37% of the company's stock.

Institutional Investors Weigh In On Finance of America Companies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of 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 worth $28,000 after purchasing an additional 822 shares in the last quarter. California State Teachers Retirement System grew its position in Finance of America Companies by 440.4% in the 2nd quarter. California State Teachers Retirement System now owns 1,486 shares of the company's stock valued at $41,000 after purchasing an additional 1,211 shares during the period. Russell Investments Group Ltd. acquired a new position in Finance of America Companies during the third quarter worth $29,000. Charles Schwab Investment Management Inc. raised its holdings in Finance of America Companies by 8.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,241 shares of the company's stock worth $442,000 after buying an additional 1,397 shares during the last quarter. Finally, Barclays PLC raised its holdings in Finance of America Companies by 23.9% during the fourth quarter. Barclays PLC now owns 7,907 shares of the company's stock worth $191,000 after buying 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.

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