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Zacks Investment Research downgraded shares of Finance Of America Companies (NYSE:FOA – Get Rating) from a hold rating to a strong sell rating in a research report sent to investors on Friday morning, Zacks.com reports.
According to Zacks, “Finance of America is a diversified, vertically integrated consumer lending platform. Its product offerings include mortgages, reverse mortgages and loans to residential real estate investors distributed across retail, third party network and digital channels. Finance of America, formerly known as Replay Acquisition Corp., is headquartered in Irving, TX. “
Other analysts have also issued reports about the company. Morgan Stanley lowered their target price on Finance Of America Companies from $4.00 to $3.75 and set an equal weight rating on the stock in a research note on Friday, March 4th. Raymond James decreased their price objective on Finance Of America Companies from $10.50 to $8.50 and set a strong-buy rating on the stock in a research note on Monday, March 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Finance Of America Companies currently has an average rating of Hold and a consensus target price of $6.40.
Shares of FOA opened at $2.99 on Friday. The company has a fifty day moving average price of $3.58. The company has a debt-to-equity ratio of 4.20, a quick ratio of 2.03 and a current ratio of 2.03. Finance Of America Companies has a 1 year low of $2.86 and a 1 year high of $11.66.
In related news, major shareholder D1 Capital Partners L.P. sold 1,494,201 shares of the business’s stock in a transaction dated Wednesday, December 15th. The stock was sold at an average price of $4.15, for a total transaction of $6,200,934.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its holdings in shares of Finance Of America Companies by 99.1% in the 3rd quarter. Royal Bank of Canada now owns 5,366 shares of the company’s stock worth $27,000 after purchasing an additional 2,671 shares in the last quarter. UBS Group AG boosted its holdings in shares of Finance Of America Companies by 301.6% in the 3rd quarter. UBS Group AG now owns 8,212 shares of the company’s stock worth $40,000 after purchasing an additional 6,167 shares in the last quarter. Capstone Financial Advisors Inc. purchased a new position in shares of Finance Of America Companies in the 3rd quarter worth about $50,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Finance Of America Companies in the 4th quarter worth about $40,000. Finally, Great Lakes Advisors LLC purchased a new position in shares of Finance Of America Companies in the 4th quarter worth about $41,000.
About Finance Of America Companies (Get Rating)
Finance of America Companies Inc operates a consumer lending platform in the United States. The company provides residential mortgages, reverse mortgages, and loans to residential real estate investors distributed across retail, third party network, and digital channels. It also offers complementary lending services to enhance the customer experience, as well as capital markets and portfolio management services to optimize distribution to investors.
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