Finance of America Companies Inc. (NYSE:FOA) is Bastion Asset Management Inc.'s 8th Largest Position

Key Points

• Bastion Asset Management Inc. increased its stake in Finance of America Companies Inc. by 17.3% during the first quarter, now owning a total of 219,379 shares valued at approximately $4.93 million.
• Finance of America Companies reported earnings of $0.52 per share for the most recent quarter, significantly exceeding analysts' expectations of $0.37.
• The stock's performance has shown volatility, with a twelve-month low of $6.83 and a high of $32.40, currently trading around $24.33.

Bastion Asset Management Inc. increased its stake in shares of Finance of America Companies Inc. (NYSE:FOA - Free Report) by 17.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,379 shares of the company's stock after acquiring an additional 32,389 shares during the quarter. Finance of America Companies comprises approximately 2.7% of Bastion Asset Management Inc.'s portfolio, making the stock its 8th largest holding. Bastion Asset Management Inc. owned about 2.05% of Finance of America Companies worth $4,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of FOA. National Bank of Canada FI purchased a new stake in shares of Finance of America Companies in the 4th quarter valued at about $52,000. Bank of America Corp DE grew 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 worth $65,000 after acquiring an additional 2,242 shares during the last quarter. Stifel Financial Corp acquired a new position in shares of Finance of America Companies in the 4th quarter valued at $204,000. XTX Topco Ltd purchased a new stake in Finance of America Companies in the 4th quarter valued at $213,000. Finally, Marshall Wace LLP purchased a new stake in Finance of America Companies in the 4th quarter valued at $277,000. 97.20% of the stock is currently owned by institutional investors and hedge funds.

Finance of America Companies Stock Performance

FOA traded down $0.19 during trading on Monday, hitting $24.11. The stock had a trading volume of 96,033 shares, compared to its average volume of 70,823. Finance of America Companies Inc. has a twelve month low of $6.83 and a twelve month high of $32.40. The firm has a market capitalization of $266.69 million, a P/E ratio of 18.00 and a beta of 1.44. The company has a debt-to-equity ratio of 47.08, a quick ratio of 2.74 and a current ratio of 2.74. The company's 50-day moving average price is $22.66 and its 200 day moving average price is $22.51.

Finance of America Companies (NYSE:FOA - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.15. The business had revenue of $165.70 million during the quarter, compared to analysts' expectations of $79.56 million. On average, equities research analysts forecast that Finance of America Companies Inc. will post 0.75 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. UBS Group restated a "neutral" rating and issued a $25.00 price objective (up from $22.50) on shares of Finance of America Companies in a research note on Tuesday, July 15th. Wall Street Zen cut Finance of America Companies from a "buy" rating to a "hold" rating in a research report on Saturday.

About Finance of America Companies

Finance of America Companies Inc a financial service holding company, through its subsidiaries, engages in the operation of a retirement solutions platform in the United States. It operates through two segments: Retirement Solutions and Portfolio Management. The Retirement Solutions segment engages in the loan origination activities comprising home equity conversion, proprietary reverse, and hybrid mortgage loans for senior homeowners.