Finance Of America Companies Inc. (NYSE:FOA – Get Rating) major shareholder Edmond Safra purchased 133,700 shares of the company's stock in a transaction that occurred on Friday, July 1st. The shares were purchased at an average cost of $1.67 per share, for a total transaction of $223,279.00. Following the completion of the purchase, the insider now owns 4,501,888 shares in the company, valued at approximately $7,518,152.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.
Edmond Safra also recently made the following trade(s):
Get Finance Of America Companies alerts:- On Wednesday, July 13th, Edmond Safra purchased 3,792 shares of Finance Of America Companies stock. The shares were purchased at an average cost of $1.74 per share, for a total transaction of $6,598.08.
- On Monday, July 11th, Edmond Safra purchased 73,162 shares of Finance Of America Companies stock. The shares were purchased at an average cost of $1.73 per share, for a total transaction of $126,570.26.
- On Wednesday, July 6th, Edmond Safra purchased 100,000 shares of Finance Of America Companies stock. The shares were purchased at an average cost of $1.70 per share, for a total transaction of $170,000.00.
Finance Of America Companies Stock Up 2.8 %
FOA traded up $0.04 during midday trading on Friday, reaching $1.48. 114,132 shares of the company were exchanged, compared to its average volume of 298,202. 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 company's fifty day moving average price is $1.54 and its 200 day moving average price is $2.06. The company has a market cap of $92.71 million, a price-to-earnings ratio of -0.19 and a beta of 0.84. Finance Of America Companies Inc. has a one year low of $1.20 and a one year high of $5.99.
Finance Of America Companies (NYSE:FOA – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.26). The company had revenue of $141.12 million for the quarter, compared to the consensus estimate of $341.24 million. Finance Of America Companies had a positive return on equity of 9.38% and a negative net margin of 33.91%. During the same period in the prior year, the firm posted $0.30 earnings per share. As a group, analysts expect that Finance Of America Companies Inc. will post -0.07 EPS for the current year.Hedge Funds Weigh In On Finance Of America Companies
Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in shares of Finance Of America Companies in the second quarter valued at approximately $27,000. American International Group Inc. grew its holdings 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 valued at $29,000 after acquiring an additional 9,137 shares in the last quarter. Bank of Montreal Can bought a new position in Finance Of America Companies during the second quarter valued at $30,000. Capstone Financial Advisors Inc. grew its holdings in Finance Of America Companies by 66.7% during the second quarter. Capstone Financial Advisors Inc. now owns 25,000 shares of the company's stock valued at $39,000 after purchasing an additional 10,000 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Finance Of America Companies by 35.1% during the second quarter. Goldman Sachs Group Inc. now owns 29,128 shares of the company's stock valued at $46,000 after purchasing an additional 7,573 shares during the period. 53.06% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts recently weighed in on FOA shares. Morgan Stanley dropped their price target on 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. Credit Suisse Group decreased their price objective on Finance Of America Companies to $4.00 in a report on Monday, August 22nd.
About Finance Of America Companies
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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.
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