Finance Of America Companies Inc. (NYSE:FOA – Get Rating) major shareholder Edmond Safra acquired 70,373 shares of the company's stock in a transaction on Thursday, June 16th. The shares were purchased at an average cost of $1.81 per share, with a total value of $127,375.13. Following the completion of the purchase, the insider now directly owns 4,168,188 shares of the company's stock, valued at $7,544,420.28. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Edmond Safra also recently made the following trade(s):
Get Finance Of America Companies alerts:- On Wednesday, July 13th, Edmond Safra acquired 3,792 shares of Finance Of America Companies stock. The shares were purchased at an average cost of $1.74 per share, with a total value of $6,598.08.
- On Monday, July 11th, Edmond Safra acquired 73,162 shares of Finance Of America Companies stock. The shares were purchased at an average cost of $1.73 per share, with a total value of $126,570.26.
- On Wednesday, July 6th, Edmond Safra acquired 100,000 shares of Finance Of America Companies stock. The shares were purchased at an average cost of $1.70 per share, with a total value of $170,000.00.
Finance Of America Companies Stock Up 2.8 %
Shares of FOA opened at $1.48 on Monday. The firm has a market capitalization of $92.71 million, a P/E ratio of -0.20 and a beta of 0.84. Finance Of America Companies Inc. has a 12-month low of $1.20 and a 12-month high of $5.99. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 12.45. The firm has a fifty day moving average price of $1.54 and a 200-day moving average price of $2.04.
Finance Of America Companies (NYSE:FOA – Get Rating) last issued its earnings results on Thursday, August 4th. The company reported ($0.16) earnings per share (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 analysts' expectations of $341.24 million. Finance Of America Companies had a negative net margin of 33.91% and a positive return on equity of 9.38%. During the same period in the prior year, the firm posted $0.30 earnings per share. Equities research analysts expect that Finance Of America Companies Inc. will post -0.07 earnings per share for the current year.Institutional Trading of Finance Of America Companies
A number of hedge funds have recently added to or reduced their stakes in FOA. SG Americas Securities LLC purchased a new stake in Finance Of America Companies in the second quarter worth about $27,000. American International Group Inc. lifted its stake in 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 acquiring an additional 9,137 shares during the period. Bank of Montreal Can purchased a new stake in Finance Of America Companies in the second quarter worth about $30,000. Capstone Financial Advisors Inc. lifted its stake in 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 acquiring an additional 10,000 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in 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 acquiring an additional 7,573 shares during the period. 53.06% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have commented on FOA shares. 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 for the company in a research note on Monday, August 15th. Credit Suisse Group lowered their target price on shares of Finance Of America Companies to $4.00 in a research note 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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