Finance Of America Companies (FOA) to Release Earnings on Monday

Posted by Defense World Staff on May 6th, 2023

Finance Of America Companies (NYSE:FOA – Get Rating) will be posting its quarterly earnings results after the market closes on Monday, May 8th. Analysts expect Finance Of America Companies to post earnings of ($0.08) per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Finance Of America Companies (NYSE:FOA – Get Rating) last announced its quarterly earnings results on Monday, March 13th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.24). The business had revenue of $93.59 million for the quarter, compared to the consensus estimate of $139.76 million. Finance Of America Companies had a negative return on equity of 12.29% and a negative net margin of 33.26%.

Finance Of America Companies Stock Down 1.9 %

Shares of FOA opened at $1.58 on Friday. The stock has a market cap of $100.87 million, a price-to-earnings ratio of -0.51 and a beta of 0.72. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 27.16. Finance Of America Companies has a 12 month low of $1.19 and a 12 month high of $2.65. The company has a 50-day moving average price of $1.55 and a two-hundred day moving average price of $1.52.

Insiders Place Their Bets

In other Finance Of America Companies news, major shareholder Holdings L.P. Blackstone III purchased 10,869,566 shares of the business’s stock in a transaction on Friday, March 31st. The stock was purchased at an average price of $1.38 per share, for a total transaction of $15,000,001.08. Following the completion of the purchase, the insider now directly owns 24,727,216 shares in the company, valued at $34,123,558.08. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.22% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Finance Of America Companies by 103.9% during the third quarter. Vanguard Group Inc. now owns 2,024,170 shares of the company’s stock worth $2,996,000 after buying an additional 1,031,579 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Finance Of America Companies by 3.3% during the third quarter. BlackRock Inc. now owns 1,697,468 shares of the company’s stock worth $2,512,000 after buying an additional 54,132 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Finance Of America Companies by 10.7% during the fourth quarter. Geode Capital Management LLC now owns 588,048 shares of the company’s stock worth $746,000 after buying an additional 56,689 shares in the last quarter. State Street Corp increased its holdings in shares of Finance Of America Companies by 6.9% during the third quarter. State Street Corp now owns 553,346 shares of the company’s stock worth $819,000 after buying an additional 35,611 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Finance Of America Companies by 25.7% during the fourth quarter. Millennium Management LLC now owns 500,000 shares of the company’s stock worth $635,000 after buying an additional 102,117 shares in the last quarter. Institutional investors own 53.11% of the company’s stock.

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.