Finance of America Companies (NYSE:FOA) Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Finance of America Companies (NYSE:FOA) from “Sell” to “Hold.” Analysts’ overall rating remains “Hold,” with a consensus price target of $30.50, though recommendations range from “Strong Sell” to “Buy.”
• FOA shares opened at $13.47, near the lower end of their 52-week range of $12.15 to $29.79. The company’s latest quarterly results missed expectations, reporting $0.84 in EPS versus a $1.04 estimate and revenue of $62.48 million versus $121.94 million expected.
• Insiders have been selling shares, including a 6,000-share sale by CIO Jeremy Prahm, while institutional investors own 97.2% of the stock. The company focuses on reverse-mortgage and other home-equity products for older homeowners.

Finance of America Companies (NYSE:FOA - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

A number of other equities analysts have also recently issued reports on FOA. 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 report on Wednesday, August 5th. Zacks Research lowered shares of Finance of America Companies from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 11th. Alliance Global Partners started coverage on shares of Finance of America Companies in a report on Wednesday, July 22nd. They set a "buy" rating and a $30.00 target price for the company. Finally, Weiss Ratings cut Finance of America Companies from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $30.50.

Finance of America Companies Stock Up 3.9%

Shares of Finance of America Companies stock opened at $13.47 on Friday. The company has a debt-to-equity ratio of 60.78, a quick ratio of 3.02 and a current ratio of 3.02. Finance of America Companies has a 52-week low of $12.15 and a 52-week high of $29.79. The stock has a market capitalization of $233.25 million, a price-to-earnings ratio of -4.48 and a beta of 1.68. The company's 50 day moving average price is $18.42 and its 200-day moving average price is $20.03.

Finance of America Companies (NYSE:FOA - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.84 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $62.48 million during the quarter, compared to analysts' expectations of $121.94 million. Equities research analysts forecast that Finance of America Companies will post 3.87 EPS for the current year.

Insiders Place Their Bets

In other Finance of America Companies news, CIO Jeremy Prahm sold 6,000 shares of the business's stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $13.98, for a total value of $83,880.00. Following the completion of the transaction, the executive owned 161,856 shares of the company's stock, valued at approximately $2,262,746.88. The trade was a 3.57% decrease in their position. The sale was disclosed in a 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 ninety days, insiders sold 31,500 shares of company stock valued at $598,830. 35.37% of the stock is currently owned by insiders.

Institutional Trading of Finance of America Companies

A number of institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new position in Finance of America Companies during the second quarter valued at approximately $240,000. First Trust Advisors LP grew 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 worth $286,000 after purchasing an additional 5,236 shares during the period. Dimensional Fund Advisors LP grew its position in Finance of America Companies by 56.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 102,061 shares of the company's stock worth $1,694,000 after purchasing an additional 36,929 shares during the period. Purpose Unlimited Inc. purchased a new stake in Finance of America Companies during the 4th quarter valued at $2,325,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in Finance of America Companies by 160.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,304 shares of the company's stock valued at $80,000 after buying an additional 2,035 shares during the last quarter. Hedge funds and other institutional investors own 97.20% of the company's stock.

About Finance of America Companies

Finance of America Companies Inc NYSE: FOA is a financial services company focused on helping homeowners access and manage the value of their homes. The company's primary business is its retirement solutions platform, which provides home-equity products designed to support financial planning and cash-flow needs for older homeowners.

Finance of America's offerings include reverse mortgage products, including federally insured Home Equity Conversion Mortgages, as well as proprietary reverse mortgage solutions.

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