Insider Selling: Finance of America Companies (NYSE:FOA) CIO Sells $79,200.00 in Stock

Finance of America Companies Inc. (NYSE:FOA) CIO Jeremy Prahm sold 6,000 shares of the firm’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $13.20, for a total value of $79,200.00. Following the transaction, the executive directly owned 155,856 shares in the company, valued at approximately $2,057,299.20. This represents a 3.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, September 21st, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The shares were sold at an average price of $13.98, for a total transaction of $83,880.00.
• On Tuesday, September 8th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The stock was sold at an average price of $16.82, for a total transaction of $100,920.00.
• On Monday, August 24th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The stock was sold at an average price of $19.87, for a total transaction of $119,220.00.
• 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 transaction 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 transaction of $133,560.00.

Finance of America Companies Price Performance

Shares of NYSE:FOA opened at $12.75 on Friday. The stock has a market cap of $220.70 million, a PE ratio of -4.24 and a beta of 1.68. The company’s fifty day moving average is $17.36 and its 200 day moving average is $19.88. Finance of America Companies Inc. has a 52 week low of $12.15 and a 52 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 posted its quarterly 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). Finance of America Companies had a positive return on equity of 28.39% and a negative net margin of 0.10%. The business had revenue of $62.48 million during the quarter, compared to the consensus estimate of $121.94 million. Research analysts anticipate that Finance of America Companies Inc. will post 3.87 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new position in Finance of America Companies in the 2nd quarter worth $240,000. First Trust Advisors LP boosted its stake in shares of Finance of America Companies by 43.7% during the 1st quarter. First Trust Advisors LP now owns 17,210 shares of the company’s stock valued at $286,000 after purchasing an additional 5,236 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Finance of America Companies by 56.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 102,061 shares of the company’s stock valued at $1,694,000 after purchasing an additional 36,929 shares in the last quarter. Purpose Unlimited Inc. purchased a new position in shares of Finance of America Companies during the fourth quarter valued at about $2,325,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Finance of America Companies by 160.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,304 shares of the company’s stock valued at $80,000 after buying an additional 2,035 shares during the period. 97.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on FOA. B. Riley Financial restated a “buy” rating and set a $32.00 price target (up from $25.00) on shares of Finance of America Companies in a research report on Wednesday, August 5th. Wall Street Zen raised shares of Finance of America Companies from a “sell” rating to a “hold” rating in a research report on Saturday, October 3rd. Weiss Ratings downgraded shares of Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Zacks Research cut Finance of America Companies from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th. Finally, Alliance Global Partners assumed coverage on Finance of America Companies in a research report on Wednesday, July 22nd. They set a “buy” rating and a $30.00 price target for the company. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Finance of America Companies currently has a consensus rating of “Hold” and a consensus price target of $30.50.

Finance of America Companies Company Profile

Finance of America Companies, Inc (NYSE: FOA) is a financial services company focused on helping older homeowners use their home equity as part of a broader retirement strategy. Through its subsidiaries, the company provides reverse mortgage products and related solutions designed to help homeowners access cash, supplement retirement income, manage expenses or remain in their homes.

The company’s reverse mortgage business, Finance of America Reverse, offers federally insured Home Equity Conversion Mortgages as well as proprietary reverse mortgage products, including HomeSafe.