Fintel reports that Blackstone Holdings III has filed a 13D/A form with the SEC disclosing ownership of 81.04MM shares of Finance of America Companies Inc. (FOA). This represents 60.3% of the company.
In their previous filing dated December 7, 2022 they reported 71.62MM shares and 63.50% of the company, an increase in shares of 13.16% and a decrease in total ownership of 3.20% (calculated as current – previous percent ownership).
Analyst Price Forecast Suggests 78.23% Upside
As of March 30, 2023, the average one-year price target for Finance of America Companies is $2.21. The forecasts range from a low of $1.52 to a high of $2.62. The average price target represents an increase of 78.23% from its latest reported closing price of $1.24.
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The projected annual revenue for Finance of America Companies is $596MM, an increase of 3.92%. The projected annual non-GAAP EPS is $0.37.
What is the Fund Sentiment?
There are 118 funds or institutions reporting positions in Finance of America Companies. This is a decrease of 11 owner(s) or 8.53% in the last quarter. Average portfolio weight of all funds dedicated to FOA is 0.01%, an increase of 36.79%. Total shares owned by institutions increased in the last three months by 1.24% to 34,242K shares. The put/call ratio of FOA is 0.04, indicating a bullish outlook.
What are Large Shareholders Doing?
Blackstone Group holds 21,716K shares representing 34.02% ownership of the company. No change in the last quarter.
Adage Capital Partners Gp, L.l.c. holds 3,539K shares representing 5.54% ownership of the company. In it’s prior filing, the firm reported owning 3,033K shares, representing an increase of 14.28%. The firm decreased its portfolio allocation in FOA by 3.44% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 1,482K shares representing 2.32% ownership of the company. No change in the last quarter.
Long Focus Capital Management holds 1,026K shares representing 1.61% ownership of the company. In it’s prior filing, the firm reported owning 846K shares, representing an increase of 17.54%. The firm decreased its portfolio allocation in FOA by 26.38% over the last quarter.
Geode Capital Management holds 588K shares representing 0.92% ownership of the company. In it’s prior filing, the firm reported owning 531K shares, representing an increase of 9.64%. The firm decreased its portfolio allocation in FOA by 12.19% over the last quarter.
Finance of America Companies Background Information
(This description is provided by the company.)
Finance of America is a diversified, vertically integrated consumer lending platform. Product offerings include residential mortgages, reverse mortgages, and loans to residential real estate investors distributed across retail, third party network, and digital channels. In addition, Finance of America offers complementary lending services to enhance the customer experience, as well as capital markets and portfolio management capabilities to optimize distribution to investors. The company is headquartered in Irving, TX.
This article originally appeared on Fintel
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