Omega Advisors, Inc. recently announced the acquisition of new stake in Finance Of America Companies Inc. (NYSE:FOA). The institutional investor has increased its shareholding in the Financial company by 6.95% to 5.07 million shares with purchase of 0.33 million shares. This fresh investment now brings its stake to 8.04% valued currently at $6.43 million. In addition, Adage Capital Management LP raised its holdings by 0.4 million to 3.43 million shares. And The Vanguard Group, Inc. has lifted its position by 114.94% or 1.03 million shares – to 1.93 million shares.
With over 71454.0 Finance Of America Companies Inc. (FOA) shares trading Tuesday and a closing price of $1.76 on the day, the dollar volume was approximately $0.13 million. The shares have shown a positive half year performance of 10.00% and its price on 01/24/23 lost nearly -0.56%. Currently, there are 62.80M common shares owned by the public and among those 52.91M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for FOA have a consensus price objective of $1.95. The analysts have set the share’s price value over the next 12 months at a high of $2.50 and a low of $1.30. The average price target is 9.74% above its recent price level and a downside to the estimated low will see the stock lose -35.38% over that period. But an upside of 29.6% will see the stock hit the forecast high price target while median target price for the stock is $2.00.
Insiders at the company have transacted a total of 112 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 56 of these insider trades were purchases, accounting for 8,976,101 shares. Insider sales of the common stock occurred on 56 occasions, with total insider shares sold totaling 13,438,225 shares.
The top 3 mutual fund holders in Finance Of America Companies Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and iShares Russell 2000 Value ETF. Vanguard Total Stock Market Index owns 1.48 million shares of the company’s stock, all valued at over $1.88 million. iShares Russell 2000 ETF sold 5368.0 shares to see its total holdings shrink to 0.52 million shares valued at over $0.66 million and representing 0.82% of the shares outstanding. iShares Russell 2000 Value ETF sold 2684.0 shares to bring its total holdings to over 0.42 million shares at a value of $0.53 million. iShares Russell 2000 Value ETF now owns shares totaling to 0.66% of the shares outstanding.
Shares of Finance Of America Companies Inc. (NYSE: FOA) opened at $1.78, up $0.01 from a prior closing price of $1.77. However, the script later moved the day high at 1.8200, down -0.56%. The company’s stock has a 5-day price change of 6.02% and 4.76% over the past three months. FOA shares are trading 38.58% year to date (YTD), with the 12-month market performance down to -53.81% lower. It has a 12-month low price of $1.20 and touched a high of $4.04 over the same period. FOA has an average intraday trading volume of 142.77K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 21.05%, 24.19%, and 0.83% respectively.
Institutional ownership of Finance Of America Companies Inc. (NYSE: FOA) shares accounts for 66.90% of the company’s 62.80M shares outstanding. Mutual fund holders own 7.06%, while other institutional holders and individual stakeholders account for 86.06% and 19.60% respectively.
It has a market capitalization of $107.62M and a beta (3y monthly) value of 0.61. The earnings-per-share (ttm) stands at -$8.75. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.02% over the week and 4.74% over the month.
Analysts forecast that Finance Of America Companies Inc. (FOA) will achieve an EPS of -$0.07 for the current quarter, $0.01 for the next quarter and $0.58 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.17 while analysts give the company a high EPS estimate of $0.03. Comparatively, EPS for the current quarter was $0.22 a year ago. Earnings per share for the fiscal year are expected to decrease by -129.20%, and 400.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Finance Of America Companies Inc. (FOA) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 2 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the FOA, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on October 11, 2021, with the firm’s price target at $5. Goldman coverage for the Finance Of America Companies Inc. (FOA) stock in a research note released on August 19, 2021 offered a Neutral rating with a price target of $5.50. Credit Suisse was of a view on June 17, 2021 that the stock is Outperform, while Raymond James gave the stock Strong Buy rating on June 15, 2021, issuing a price target of $13.50. Raymond James on their part issued Outperform rating on April 23, 2021.
