Finance of America Companies (NYSE:FOA) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Finance of America Companies (NYSE:FOA) from a hold rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.

FOA has been the subject of a number of other reports. Zacks Research cut Finance of America Companies from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th. Weiss Ratings lowered Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Alliance Global Partners assumed coverage on shares of Finance of America Companies in a report on Wednesday, July 22nd. They issued a “buy” rating and a $30.00 target price for the company. Finally, B. Riley Financial reissued a “buy” rating and set a $32.00 price target (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, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.50.

Finance of America Companies Stock Performance

Shares of NYSE:FOA opened at $15.10 on Friday. The firm has a 50 day moving average of $21.38 and a 200 day moving average of $20.45. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 60.78. The company has a market capitalization of $261.31 million, a price-to-earnings ratio of -5.02 and a beta of 1.65. Finance of America Companies has a 52 week low of $14.80 and a 52 week high of $29.79.

Finance of America Companies (NYSE:FOA) last announced its earnings results on Tuesday, August 4th. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $121.94 million. On average, sell-side analysts predict that Finance of America Companies will post 4.16 earnings per share for the current fiscal year.

Insider Activity at Finance of America Companies

In other news, CIO Jeremy Prahm sold 6,000 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $16.82, for a total value of $100,920.00. Following the sale, the executive owned 167,856 shares in the company, valued at $2,823,337.92. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 26,250 shares of company stock valued at $535,470. 35.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FOA. California State Teachers Retirement System boosted its holdings in Finance of America Companies by 440.4% in the second quarter. California State Teachers Retirement System now owns 1,486 shares of the company’s stock valued at $41,000 after purchasing an additional 1,211 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Finance of America Companies during the 2nd quarter valued at about $240,000. First Trust Advisors LP raised its stake in shares of Finance of America Companies by 43.7% during the 1st quarter. First Trust Advisors LP now owns 17,210 shares of the company’s stock valued at $286,000 after buying an additional 5,236 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 valued at $1,694,000 after buying an additional 36,929 shares during the period. Finally, Purpose Unlimited Inc. acquired a new position in shares of Finance of America Companies in the 4th quarter valued at about $2,325,000. 97.20% of the stock is currently owned by institutional investors and hedge funds.

Finance of America Companies Company Profile

Finance of America Companies Inc (NYSE: FOA) is a financial services company focused on helping homeowners access and manage the value of their homes. The company’s primary business is its retirement solutions platform, which provides home-equity products designed to support financial planning and cash-flow needs for older homeowners.

Finance of America’s offerings include reverse mortgage products, including federally insured Home Equity Conversion Mortgages, as well as proprietary reverse mortgage solutions.