Nkcfo LLC Sells 16,000 Shares of 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 decreased its position in Finance of America Companies Inc. (NYSE:FOA - Free Report) by 55.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,000 shares of the company's stock after selling 16,000 shares during the quarter. Nkcfo LLC owned approximately 0.12% of Finance of America Companies worth $276,000 at the end of the most recent quarter.

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

Finance of America Companies Stock Down 0.8%

NYSE:FOA traded down $0.19 during mid-day trading on Monday, hitting $24.11. 96,033 shares of the company's stock were exchanged, compared to its average volume of 70,823. Finance of America Companies Inc. has a one year low of $6.83 and a one year high of $32.40. The company has a debt-to-equity ratio of 47.08, a current ratio of 2.74 and a quick ratio of 2.74. The business has a fifty day moving average price of $22.66 and a 200 day moving average price of $22.51. The company has a market cap of $266.69 million, a PE ratio of 6.55 and a beta of 1.44.

Finance of America Companies (NYSE:FOA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.37 by $0.15. The business had revenue of $165.70 million for the quarter, compared to the consensus estimate of $79.56 million. Equities analysts predict that Finance of America Companies Inc. will post 0.75 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on FOA. Wall Street Zen cut shares of Finance of America Companies from a "buy" rating to a "hold" rating in a research report on Saturday. UBS Group reiterated a "neutral" rating and set a $25.00 price target (up previously from $22.50) on shares of Finance of America Companies in a research report on Tuesday, July 15th.

Finance of America Companies 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.