Finance of America Companies (NYSE:FOA) CIO Jeremy Prahm Sells 6,000 Shares of Stock

Finance of America Companies Inc. (NYSE:FOA) CIO Jeremy Prahm sold 6,000 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $19.87, for a total value of $119,220.00. Following the sale, the executive owned 173,856 shares in the company, valued at approximately $3,454,518.72. This trade represents a 3.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jeremy Prahm also recently made the following trade(s):

• On Monday, August 10th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The stock was sold at an average price of $21.73, for a total value of $130,380.00.
• On Thursday, August 6th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The shares were sold at an average price of $22.26, for a total value of $133,560.00.
• On Monday, June 15th, Jeremy Prahm sold 8,860 shares of Finance of America Companies stock. The shares were sold at an average price of $20.49, for a total value of $181,541.40.

Finance of America Companies Price Performance

Shares of FOA traded down $0.81 during trading hours on Wednesday, reaching $18.86. 53,079 shares of the company traded hands, compared to its average volume of 74,628. The stock has a market capitalization of $326.47 million, a PE ratio of -6.27 and a beta of 1.65. The stock has a fifty day simple moving average of $23.29 and a 200 day simple moving average of $20.89. Finance of America Companies Inc. has a fifty-two week low of $15.77 and a fifty-two week high of $29.79. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 60.78.

Finance of America Companies (NYSE:FOA) last announced its earnings results on Tuesday, August 4th. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.20). The firm had revenue of $62.48 million during the quarter, compared to analyst estimates of $121.94 million. Finance of America Companies had a negative net margin of 0.10% and a positive return on equity of 28.39%. As a group, research analysts predict that Finance of America Companies Inc. will post 4.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FOA has been the subject of a number of analyst reports. Weiss Ratings lowered shares of Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. B. Riley Financial reaffirmed a “buy” rating and issued a $32.00 target price (up from $25.00) on shares of Finance of America Companies in a research note on Wednesday, August 5th. Alliance Global Partners began coverage on Finance of America Companies in a report on Wednesday, July 22nd. They issued a “buy” rating and a $30.00 price target for the company. Wall Street Zen raised Finance of America Companies from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Zacks Research cut Finance of America Companies from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $30.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Beach Point Capital Management LP boosted its position in shares of Finance of America Companies by 557.5% in the fourth quarter. Beach Point Capital Management LP now owns 789,399 shares of the company’s stock worth $19,111,000 after acquiring an additional 669,336 shares during the last quarter. Invesco Ltd. acquired a new position in Finance of America Companies during the third quarter worth approximately $3,147,000. Geode Capital Management LLC increased its position in Finance of America Companies by 66.2% during the second quarter. Geode Capital Management LLC now owns 136,672 shares of the company’s stock worth $3,188,000 after purchasing an additional 54,429 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Finance of America Companies by 56.7% during the first quarter. Dimensional Fund Advisors LP now owns 102,061 shares of the company’s stock worth $1,694,000 after purchasing an additional 36,929 shares during the period. Finally, Purpose Unlimited Inc. purchased a new position in Finance of America Companies during the fourth quarter worth approximately $2,325,000. Institutional investors and hedge funds own 97.20% of the company’s stock.

Finance of America Companies Company Profile

Finance of America Companies (NYSE: FOA) is a diversified nonbank financial services firm specializing in mortgage and insurance products for consumers. The company operates across multiple business segments, delivering home financing solutions, retirement products and specialized lending services through a blend of digital and traditional distribution channels.

In its mortgage segment, FOA originates and purchases a range of home loans including purchase, refinance, FHA, VA and USDA loans.