Cooperman Leon G Purchases 120,692 Shares of Finance of America Companies Inc. $FOA

Key Points

• Cooperman Leon G increased its stake in Finance of America Companies Inc. by 11.2%, owning approximately 11.22% of the company valued at $25.56 million by the end of the most recent quarter.
• Wall Street analysts have downgraded the stock from a "buy" to a "hold" rating, with a consensus rating of "Moderate Buy" and an average price target of $27.50.
• Finance of America reported $0.55 EPS for the latest quarter, missing the consensus estimates, but showed strong revenue of $177.38 million against expectations of $97.05 million.

Cooperman Leon G boosted its position in Finance of America Companies Inc. (NYSE:FOA - Free Report) by 11.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,202,187 shares of the company's stock after purchasing an additional 120,692 shares during the period. Finance of America Companies comprises 1.0% of Cooperman Leon G's investment portfolio, making the stock its 25th biggest position. Cooperman Leon G owned approximately 11.22% of Finance of America Companies worth $25,558,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC bought a new position in Finance of America Companies in the 4th quarter valued at $492,000. Marshall Wace LLP purchased a new position in Finance of America Companies in the fourth quarter valued at about $277,000. Stifel Financial Corp purchased a new position in Finance of America Companies in the fourth quarter valued at approximately $204,000. Northern Trust Corp purchased a new stake in Finance of America Companies in the fourth quarter worth $479,000. Finally, Bank of America Corp DE lifted its position in shares of Finance of America Companies by 3,503.1% during the 4th quarter. Bank of America Corp DE now owns 2,306 shares of the company's stock valued at $65,000 after buying an additional 2,242 shares during the last quarter. 97.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FOA. Wall Street Zen cut Finance of America Companies from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. UBS Group reaffirmed a "neutral" rating and set a $25.00 target price (up previously from $22.50) on shares of Finance of America Companies in a report on Tuesday, July 15th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $27.50.

Finance of America Companies Trading Down 0.1%

Shares of NYSE:FOA traded down $0.02 on Friday, reaching $27.78. 198,627 shares of the company traded hands, compared to its average volume of 99,619. Finance of America Companies Inc. has a 52 week low of $9.78 and a 52 week high of $32.40. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 39.38. The business's 50-day simple moving average is $25.03 and its 200 day simple moving average is $22.58. The stock has a market capitalization of $307.81 million, a P/E ratio of 4.55 and a beta of 1.50.

Finance of America Companies (NYSE:FOA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.06). The company had revenue of $177.38 million for the quarter, compared to the consensus estimate of $97.05 million. As a group, equities analysts anticipate that Finance of America Companies Inc. will post 0.75 EPS for the current fiscal year.

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.