Nkcfo LLC Trims Stake in Finance of America Companies Inc. (NYSE:FOA)

Key Points

• Nkcfo LLC has significantly reduced its stake in Finance of America Companies Inc. by 55.2%, now holding 13,000 shares valued at approximately $276,000.
• Other institutional investors, including Bastion Asset Management and Renaissance Technologies, have also modified their holdings with notable acquisitions during the 4th quarter.
• Finance of America Companies recently reported earnings that surpassed estimates, with $0.52 earnings per share compared to the expected $0.37, indicating strong revenue growth.

Nkcfo LLC lowered its stake in shares of Finance of America Companies Inc. (NYSE:FOA - Free Report) by 55.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,000 shares of the company's stock after selling 16,000 shares during the period. Nkcfo LLC owned 0.12% of Finance of America Companies worth $276,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bastion Asset Management Inc. bought a new position in Finance of America Companies in the 4th quarter worth approximately $4,850,000. Renaissance Technologies LLC boosted its holdings in Finance of America Companies by 600.5% in the 4th quarter. Renaissance Technologies LLC now owns 89,495 shares of the company's stock worth $2,517,000 after buying an additional 76,719 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Finance of America Companies in the 4th quarter worth approximately $984,000. American Century Companies Inc. bought a new position in Finance of America Companies in the 4th quarter valued at $781,000. Finally, Integrated Wealth Concepts LLC bought a new position in Finance of America Companies in the 4th quarter valued at $630,000. Hedge funds and other institutional investors own 97.20% of the company's stock.

Analysts Set New Price Targets

FOA has been the subject of several analyst reports. Wall Street Zen downgraded shares of Finance of America Companies from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. UBS Group reaffirmed a "neutral" rating and set a $25.00 price objective (up from $22.50) on shares of Finance of America Companies in a report on Tuesday, July 15th.

Finance of America Companies Trading Down 0.8%

NYSE:FOA traded down $0.18 during trading hours on Thursday, reaching $21.68. The company's stock had a trading volume of 47,574 shares, compared to its average volume of 113,141. The firm has a market capitalization of $239.78 million, a price-to-earnings ratio of 5.89 and a beta of 1.44. The firm has a 50-day simple moving average of $22.66 and a 200-day simple moving average of $22.51. Finance of America Companies Inc. has a 1 year low of $6.83 and a 1 year high of $32.40. The company has a debt-to-equity ratio of 47.08, a quick ratio of 2.74 and a current ratio of 2.74.

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

Finance of America Companies Company Profile

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.