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Finance Of America Companies (NYSE:FOA – Get Rating) had its target price lowered by equities research analysts at The Goldman Sachs Group from $1.75 to $1.60 in a note issued to investors on Tuesday, Stock Target Advisor reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price suggests a potential downside of 5.33% from the stock’s current price.
Other equities research analysts have also issued research reports about the stock. Credit Suisse Group dropped their price objective on shares of Finance Of America Companies to $4.00 in a research note on Monday, August 22nd. Morgan Stanley dropped their price objective on shares of Finance Of America Companies from $2.50 to $2.00 and set an “equal weight” rating on the stock in a research note on Monday, August 15th.
Finance Of America Companies Trading Up 2.4 %
Shares of NYSE FOA traded up $0.04 during midday trading on Tuesday, hitting $1.69. 360 shares of the company traded hands, compared to its average volume of 150,612. Finance Of America Companies has a 12-month low of $1.20 and a 12-month high of $5.99. The company has a debt-to-equity ratio of 12.45, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a 50-day moving average price of $1.54 and a 200 day moving average price of $2.03. The firm has a market cap of $105.86 million, a P/E ratio of -0.23 and a beta of 0.57.
Finance Of America Companies (NYSE:FOA – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.26). Finance Of America Companies had a negative net margin of 33.91% and a positive return on equity of 9.38%. The company had revenue of $141.12 million for the quarter, compared to analysts’ expectations of $341.24 million. During the same quarter in the prior year, the firm earned $0.30 EPS. As a group, analysts expect that Finance Of America Companies will post -0.07 earnings per share for the current year.
Insider Transactions at Finance Of America Companies
In other news, major shareholder Edmond Safra bought 100,000 shares of the company’s stock in a transaction dated Wednesday, July 6th. The shares were purchased at an average price of $1.70 per share, for a total transaction of $170,000.00. Following the completion of the purchase, the insider now owns 4,601,888 shares in the company, valued at approximately $7,823,209.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have bought 176,954 shares of company stock worth $303,168. Corporate insiders own 3.22% of the company’s stock.
Institutional Trading of Finance Of America Companies
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in Finance Of America Companies during the second quarter valued at approximately $27,000. American International Group Inc. increased its stake in shares of Finance Of America Companies by 101.1% in the second quarter. American International Group Inc. now owns 18,171 shares of the company’s stock worth $29,000 after purchasing an additional 9,137 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Finance Of America Companies in the second quarter worth $30,000. Capstone Financial Advisors Inc. increased its stake in shares of Finance Of America Companies by 66.7% in the second quarter. Capstone Financial Advisors Inc. now owns 25,000 shares of the company’s stock worth $39,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Finance Of America Companies by 35.1% in the second quarter. Goldman Sachs Group Inc. now owns 29,128 shares of the company’s stock worth $46,000 after purchasing an additional 7,573 shares in the last quarter. 53.06% of the stock is owned by hedge funds and other institutional investors.
About Finance Of America Companies
(Get Rating)
Finance of America Companies Inc operates a consumer lending platform in the United States. The company operates through: Mortgage Originations, Reverse Originations, Commercial Originations, Lender Services, and Portfolio Management segments. It provides residential mortgage loans to the government sponsored entities; government-insured agricultural lending solutions to farmers; product development, loan securitization, loan sales, risk management, asset management, and servicing oversight services to enterprise and third-party funds; and ancillary business services, title agency and title insurance services, mortgage servicing rights valuation and trade brokerage, transactional fulfillment services, mortgage loan third party review or due diligence services, and appraisal and capital management services to residential mortgage, student lending, and commercial lending industry customers.
Further Reading
- Get a free copy of the StockNews.com research report on Finance Of America Companies (FOA)
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