Possession of 81.04 million shares of FOA is wrapped up
Blackstone Holdings III remains in firm control of Finance of America Companies Inc. with a 60.3% ownership stake after filing a 13D/A form with the SEC, according to Fintel.
The move marks an increase in shares from its previous filing on December 7, 2022, but a small drop in overall ownership – it last reported owning 63.50% of the company. While its total ownership decreased by 3.20% from the previous filing, the share count increased by 13.16%.
Finance of America Companies Inc. (FOA) is showing positive signs for investors, according to the latest market data. As of March 30, 2023, the average one-year price target for FOA is $2.21, a 78.23% increase from its latest reported closing price of $1.24.
The projected annual revenue for FOA is $596 million, showing an increase of 3.92%. Additionally, the fund sentiment remains bullish, with a put/call ratio of 0.04.
FOA’s largest shareholder is Blackstone Group, which owns 21,716k shares, representing 34.02% of the company.
Adage Capital Partners Gp, L.l.c. also increased its portfolio allocation in FOA by 14.28%, holding 3,539K shares representing 5.54% ownership.
Vanguard Total Stock Market Index Fund Investor Shares holds 1,482k shares, representing 2.32% ownership, while Long Focus Capital Management owns 1,026k shares, representing 1.61% ownership, despite decreasing its portfolio allocation by 26.38% over the last quarter.
Geode Capital Management holds 588k shares, representing 0.92% ownership, despite decreasing its portfolio allocation by 12.19% over the last quarter.
With FOA showing strong price target upside potential and positive investor sentiment, it may be a company worth watching in the coming months.
