Insider Buying: Finance of America Companies (NYSE:FOA) Major Shareholder Buys $822,000.00 in Stock

Finance of America Companies Inc. (NYSE:FOA) major shareholder Edmond Safra purchased 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average cost of $16.44 per share, with a total value of $822,000.00. Following the acquisition, the insider owned 445,188 shares in the company, valued at $7,318,890.72. This represents a 12.65% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Finance of America Companies Stock Performance

FOA opened at $24.17 on Monday. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 43.57. The company has a market cap of $214.86 million, a price-to-earnings ratio of 60.42 and a beta of 1.67. Finance of America Companies Inc. has a 52-week low of $15.77 and a 52-week high of $29.58. The firm’s fifty day simple moving average is $20.42 and its two-hundred day simple moving average is $20.81.

Finance of America Companies (NYSE:FOA) last released its earnings results on Tuesday, May 5th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.26. Finance of America Companies had a net margin of 7.20% and a return on equity of 22.24%. The business had revenue of $120.14 million during the quarter, compared to analysts’ expectations of $115.31 million. Equities analysts anticipate that Finance of America Companies Inc. will post 4.59 earnings per share for the current fiscal year.

Institutional Trading of Finance of America Companies

A number of hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its stake in Finance of America Companies by 183.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company’s stock worth $28,000 after purchasing an additional 822 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Finance of America Companies in the third quarter valued at approximately $29,000. JPMorgan Chase & Co. increased its holdings in shares of 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 valued at $49,000 after purchasing an additional 2,050 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Finance of America Companies by 3,503.1% in the fourth quarter. Bank of America Corp DE now owns 2,306 shares of the company’s stock valued at $65,000 after purchasing an additional 2,242 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Finance of America Companies during the second quarter worth approximately $57,000. Institutional investors and hedge funds own 97.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FOA shares. Wall Street Zen raised Finance of America Companies from a “sell” rating to a “hold” rating in a report on Monday, April 6th. Weiss Ratings upgraded Finance of America Companies from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, June 12th. Zacks Research raised Finance of America Companies to a “hold” rating in a research note on Monday, April 6th. Finally, B. Riley Financial started coverage on Finance of America Companies in a research report on Thursday, April 2nd. They set a “buy” rating and a $22.50 price target for the company. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $26.00.

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.