Finance of America Companies (NYSE:FOA) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Finance of America Companies from “sell” to “hold,” while analysts’ overall consensus remains “Hold” with a $30.50 target price.
• FOA reported quarterly EPS of $0.84, below the $1.04 estimate, and revenue of $62.48 million versus the $121.94 million consensus forecast.
• The stock opened at $21.88, with a 52-week range of $15.77 to $29.79; institutional investors own approximately 97.2% of the shares, while insiders have sold stock in recent months.

Finance of America Companies (NYSE:FOA - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Other equities analysts also recently issued reports about the company. Zacks Research downgraded Finance of America Companies from a "hold" rating to a "strong sell" rating in a research note on Tuesday. Alliance Global Partners assumed coverage on Finance of America Companies in a report on Wednesday, July 22nd. They set a "buy" rating and a $30.00 price objective on the stock. Weiss Ratings cut Finance of America Companies from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday. Finally, B. Riley Financial restated a "buy" rating and set a $32.00 target price (up from $25.00) on shares of Finance of America Companies in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Finance of America Companies currently has an average rating of "Hold" and a consensus target price of $30.50.

Finance of America Companies Stock Performance

Shares of FOA stock opened at $21.88 on Friday. The stock's 50-day moving average price is $23.20 and its 200 day moving average price is $21.04. The company has a quick ratio of 2.62, a current ratio of 3.02 and a debt-to-equity ratio of 60.78. The stock has a market capitalization of $378.66 million, a PE ratio of -7.27 and a beta of 1.65. Finance of America Companies has a 52-week low of $15.77 and a 52-week high of $29.79.

Finance of America Companies (NYSE:FOA - Get Free Report) last released 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). Finance of America Companies had a negative net margin of 0.10% and a positive return on equity of 28.39%. The company had revenue of $62.48 million during the quarter, compared to analyst estimates of $121.94 million. As a group, equities research analysts forecast that Finance of America Companies will post 4.16 EPS for the current year.

Insider Transactions at Finance of America Companies

In related news, CIO Jeremy Prahm sold 8,860 shares of Finance of America Companies stock in a transaction on Monday, June 15th. The stock was sold at an average price of $20.49, for a total transaction of $181,541.40. Following the completion of the transaction, the executive directly owned 203,856 shares of the company's stock, valued at approximately $4,177,009.44. The trade was a 4.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,360 shares of company stock worth $601,789 over the last ninety days. Insiders own 35.37% of the company's stock.

Institutional Investors Weigh In On Finance of America Companies

Several institutional investors and hedge funds have recently made changes to their positions in FOA. Beach Point Capital Management LP grew its stake in Finance of America Companies by 557.5% in the 4th quarter. Beach Point Capital Management LP now owns 789,399 shares of the company's stock valued at $19,111,000 after acquiring an additional 669,336 shares during the last quarter. Invesco Ltd. acquired a new stake in shares of Finance of America Companies in the third quarter valued at approximately $3,147,000. Geode Capital Management LLC grew its position 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 valued at $3,188,000 after purchasing an additional 54,429 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Finance of America Companies by 56.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 102,061 shares of the company's stock worth $1,694,000 after purchasing an additional 36,929 shares in the last quarter. Finally, Purpose Unlimited Inc. purchased a new position in shares of Finance of America Companies during the 4th quarter worth approximately $2,325,000. 97.20% of the stock is currently owned by hedge funds and other institutional investors.

About Finance of America Companies

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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