Finance Of America Companies Sees Unusually High Options Volume (NYSE:FOA)

Posted by Defense World Staff on Apr 7th, 2023

Finance Of America Companies Inc. (NYSE:FOA – Get Rating) was the target of unusually large options trading on Thursday. Investors bought 4,113 call options on the company. This is an increase of 8,469% compared to the typical volume of 48 call options.

Finance Of America Companies Stock Performance

Shares of FOA opened at $1.93 on Friday. The stock has a 50 day moving average price of $1.51 and a 200 day moving average price of $1.49. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 27.16. The company has a market capitalization of $123.21 million, a price-to-earnings ratio of -0.62 and a beta of 0.71. Finance Of America Companies has a 52-week low of $1.19 and a 52-week high of $2.80.

Wall Street Analyst Weigh In

Separately, Morgan Stanley lowered their price target on Finance Of America Companies from $2.00 to $1.50 and set an “equal weight” rating for the company in a report on Friday, December 16th.

Insider Transactions at Finance Of America Companies

In related news, major shareholder Holdings L.P. Blackstone III acquired 10,869,566 shares of the stock in a transaction dated Friday, March 31st. The stock was acquired at an average cost of $1.38 per share, with a total value of $15,000,001.08. Following the completion of the transaction, the insider now owns 24,727,216 shares in the company, valued at approximately $34,123,558.08. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.22% of the company’s stock.

Institutional Investors Weigh In On Finance Of America Companies

Several large investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new stake in shares of Finance Of America Companies in the fourth quarter valued at approximately $35,000. Millennium Management LLC boosted its holdings in shares of Finance Of America Companies by 25.7% in the fourth quarter. Millennium Management LLC now owns 500,000 shares of the company’s stock valued at $635,000 after acquiring an additional 102,117 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Finance Of America Companies by 10.7% in the fourth quarter. Geode Capital Management LLC now owns 588,048 shares of the company’s stock valued at $746,000 after acquiring an additional 56,689 shares during the period. Bank of America Corp DE boosted its holdings in shares of Finance Of America Companies by 135.0% in the fourth quarter. Bank of America Corp DE now owns 66,571 shares of the company’s stock valued at $85,000 after acquiring an additional 38,246 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Finance Of America Companies by 6.7% during the third quarter. Bank of New York Mellon Corp now owns 209,333 shares of the company’s stock worth $309,000 after purchasing an additional 13,089 shares during the period. 53.11% of the stock is owned by institutional investors and hedge funds.

Finance Of America Companies Company Profile

(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.