Finance of America Companies (NYSE:FOA) Downgraded by Zacks Research to "Strong Sell"

Key Points

• Zacks Research downgraded Finance of America Companies to “strong sell” from “hold.” Other ratings were mixed, leaving FOA with an average “hold” rating and a consensus price target of $30.50.
• FOA shares opened at $22.30 and were reported up 3.5%, but the company’s latest quarterly results missed expectations: EPS was $0.84 versus $1.04 expected, while revenue of $62.48 million fell well below the $121.94 million estimate.
• Insiders have been net sellers, with executives selling 28,360 shares worth $601,789 over the past 90 days. Institutional investors own 97.20% of the company’s stock.

Finance of America Companies (NYSE:FOA - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

FOA has been the topic of a number of other reports. Alliance Global Partners initiated coverage on shares of Finance of America Companies in a research note on Wednesday, July 22nd. They issued a "buy" rating and a $30.00 price objective on the stock. Weiss Ratings lowered shares of Finance of America Companies from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday. B. Riley Financial reaffirmed a "buy" rating and issued a $32.00 price objective (up from $25.00) on shares of Finance of America Companies in a report on Wednesday, August 5th. Finally, Wall Street Zen cut Finance of America Companies from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Finance of America Companies has an average rating of "Hold" and a consensus price target of $30.50.

Finance of America Companies Stock Up 3.5%

FOA stock opened at $22.30 on Tuesday. Finance of America Companies has a one year low of $15.77 and a one year high of $29.79. The firm has a market cap of $198.25 million, a PE ratio of -7.41 and a beta of 1.65. The company has a debt-to-equity ratio of 43.57, a quick ratio of 2.62 and a current ratio of 2.62. The firm's fifty day moving average is $23.11 and its 200 day moving average is $21.04.

Finance of America Companies (NYSE:FOA - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.20). The company had revenue of $62.48 million during the quarter, compared to analyst estimates of $121.94 million. Finance of America Companies had a positive return on equity of 28.51% and a negative net margin of 0.10%. On average, research analysts forecast that Finance of America Companies will post 4.16 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 on Monday, August 10th. The shares were sold at an average price of $21.73, for a total value of $130,380.00. Following the sale, the executive owned 179,856 shares of the company's stock, valued at $3,908,270.88. The trade was a 3.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,360 shares of company stock worth $601,789 in the last 90 days. 35.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Finance of America Companies

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE grew its position in shares of Finance of America Companies by 3,503.1% in the 4th quarter. Bank of America Corp DE now owns 2,306 shares of the company's stock valued at $65,000 after acquiring an additional 2,242 shares during the period. Geode Capital Management LLC lifted its stake in shares of Finance of America Companies by 66.2% in the second quarter. Geode Capital Management LLC now owns 136,672 shares of the company's stock worth $3,188,000 after acquiring an additional 54,429 shares during the period. JPMorgan Chase & Co. raised its position in Finance of America Companies by 4,270.8% in the second quarter. JPMorgan Chase & Co. now owns 2,098 shares of the company's stock worth $49,000 after acquiring an additional 2,050 shares during the period. American Century Companies Inc. grew its holdings in Finance of America Companies by 3.1% during the second quarter. American Century Companies Inc. now owns 88,554 shares of the company's stock valued at $2,065,000 after purchasing an additional 2,636 shares during the period. Finally, New York State Common Retirement Fund purchased a new position in Finance of America Companies in the second quarter worth $103,000. Institutional investors own 97.20% of the company's stock.

Finance of America Companies Company Profile

Finance of America Companies NYSE: FOA is a diversified nonbank financial services firm specializing in mortgage and insurance products for consumers. The company operates across multiple business segments, delivering home financing solutions, retirement products and specialized lending services through a blend of digital and traditional distribution channels.

In its mortgage segment, FOA originates and purchases a range of home loans including purchase, refinance, FHA, VA and USDA loans.

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