Finance of America Companies (NYSE:FOA) Stock Gets Downgrade from Wall Street Zen

Finance of America Companies (NYSE:FOA) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other research analysts have also issued reports about the stock. Zacks Research raised shares of Finance of America Companies from a “strong sell” rating to a “hold” rating in a research note on Monday, November 2nd. Weiss Ratings cut Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Alliance Global Partners started coverage on Finance of America Companies in a report on Wednesday, July 22nd. They issued a “buy” rating and a $30.00 price target for the company. Finally, B. Riley Financial reiterated a “buy” rating and set a $32.00 price objective (up from $25.00) on shares of Finance of America Companies in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $30.50.

Finance of America Companies Stock Up 0.9%

NYSE:FOA opened at $12.86 on Friday. The company has a market cap of $222.57 million, a PE ratio of -1.65 and a beta of 1.77. Finance of America Companies has a twelve month low of $9.71 and a twelve month high of $29.79. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 60.78. The company’s 50 day moving average is $13.44 and its two-hundred day moving average is $19.13.

Finance of America Companies (NYSE:FOA) last posted its earnings results on Tuesday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.98). The business had revenue of $89.17 million for the quarter, compared to analyst estimates of $132.34 million. Finance of America Companies had a negative net margin of 0.10% and a positive return on equity of 19.87%. Analysts anticipate that Finance of America Companies will post 3.87 EPS for the current year.

Insider Activity at Finance of America Companies

In other Finance of America Companies news, CIO Jeremy Prahm sold 5,610 shares of the stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $10.74, for a total transaction of $60,251.40. Following the completion of the sale, the executive directly owned 150,246 shares of the company’s stock, valued at approximately $1,613,642.04. This trade represents a 3.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 31,110 shares of company stock valued at $466,031 over the last three months. 35.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Finance of America Companies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of Finance of America Companies by 56.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 102,061 shares of the company’s stock worth $1,694,000 after buying an additional 36,929 shares in the last quarter. Prescott Group Capital Management L.L.C. increased its holdings in Finance of America Companies by 17.8% during the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 66,206 shares of the company’s stock valued at $837,000 after acquiring an additional 10,000 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Finance of America Companies by 140.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 32,246 shares of the company’s stock valued at $408,000 after acquiring an additional 18,819 shares in the last quarter. First Trust Advisors LP raised its position in Finance of America Companies by 43.7% during the first quarter. First Trust Advisors LP now owns 17,210 shares of the company’s stock worth $286,000 after acquiring an additional 5,236 shares during the last quarter. Finally, Ritholtz Wealth Management acquired a new position in Finance of America Companies during the third quarter worth about $198,000. Hedge funds and other institutional investors own 97.20% of the company’s stock.

About Finance of America Companies

Finance of America Companies Inc (NYSE:FOA) is a financial services company focused on helping homeowners access and manage home equity. Its primary business is conducted through Finance of America Reverse, which provides reverse mortgage products and related services to older homeowners.

The company offers federally insured Home Equity Conversion Mortgages (HECMs), proprietary reverse mortgage products and reverse mortgage refinancing solutions. These products generally allow eligible homeowners to convert a portion of their home equity into funds while continuing to live in their homes, subject to applicable loan terms, taxes, insurance and maintenance requirements.