B. Riley Financial Begins Coverage on Finance of America Companies (NYSE:FOA)

Stock analysts at B. Riley Financial assumed coverage on shares of Finance of America Companies (NYSE:FOA) in a note issued to investors on Thursday,Benzinga reports. The firm set a “buy” rating and a $22.50 price target on the stock. B. Riley Financial’s price target suggests a potential upside of 30.83% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Finance of America Companies from a “hold” rating to a “sell” rating in a research note on Sunday. Weiss Ratings restated a “sell (d)” rating on shares of Finance of America Companies in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $26.00.

Finance of America Companies Price Performance

FOA stock opened at $17.20 on Thursday. The firm has a 50 day moving average of $19.85 and a 200-day moving average of $21.98. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 47.80. The company has a market cap of $147.04 million, a price-to-earnings ratio of 8.82 and a beta of 1.70. Finance of America Companies has a 12-month low of $15.77 and a 12-month high of $29.58.

Finance of America Companies (NYSE:FOA) last posted its earnings results on Tuesday, March 10th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. The company had revenue of $73.51 million for the quarter, compared to analyst estimates of $109.45 million. Finance of America Companies had a return on equity of 10.30% and a net margin of 9.09%. As a group, equities analysts expect that Finance of America Companies will post 0.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CIO Jeremy Prahm sold 6,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $17.50, for a total value of $105,000.00. Following the completion of the transaction, the executive owned 167,294 shares of the company’s stock, valued at approximately $2,927,645. The trade was a 3.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Urban Holdings L.L.C. Bto sold 1,596,142 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $10.00, for a total transaction of $15,961,420.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,200,134 shares of company stock valued at $32,073,013 over the last three months. Insiders own 25.00% of the company’s stock.

Institutional Investors Weigh In On Finance of America Companies

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its position in shares of Finance of America Companies by 183.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company’s stock valued at $28,000 after buying an additional 822 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Finance of America Companies during the third quarter worth approximately $29,000. JPMorgan Chase & Co. grew its stake in Finance of America Companies by 4,270.8% in the 2nd 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. Bank of America Corp DE grew its stake in 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 worth $65,000 after acquiring an additional 2,242 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Finance of America Companies in the 2nd quarter valued at $57,000. 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.