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

Finance of America Companies Inc. (NYSE:FOA) CIO Jeremy Prahm sold 6,000 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $23.01, for a total transaction of $138,060.00. Following the sale, the executive owned 232,196 shares of the company’s stock, valued at approximately $5,342,829.96. The trade was a 2.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, April 6th, Jeremy Prahm sold 5,228 shares of Finance of America Companies stock. The stock was sold at an average price of $17.83, for a total transaction of $93,215.24.
• On Monday, March 23rd, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The stock was sold at an average price of $17.50, for a total transaction of $105,000.00.

Finance of America Companies Trading Up 1.2%

Finance of America Companies stock traded up $0.26 during midday trading on Wednesday, hitting $22.46. 53,782 shares of the stock were exchanged, compared to its average volume of 94,209. Finance of America Companies Inc. has a fifty-two week low of $15.77 and a fifty-two week high of $29.58. The stock has a market capitalization of $192.02 million, a price-to-earnings ratio of 11.52 and a beta of 1.70. The stock’s 50-day simple moving average is $19.04 and its 200 day simple moving average is $21.60. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 47.80.

Finance of America Companies (NYSE:FOA) last announced its quarterly earnings results on Tuesday, March 10th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. Finance of America Companies had a net margin of 9.09% and a return on equity of 10.30%. The business had revenue of $73.51 million during the quarter, compared to analysts’ expectations of $109.45 million. On average, equities analysts anticipate that Finance of America Companies Inc. will post 4.5 EPS for the current year.

Institutional Investors Weigh In On Finance of America Companies

A number of institutional investors have recently made changes to their positions in the stock. Cooperman Leon G boosted its stake in shares of Finance of America Companies by 0.8% in the third quarter. Cooperman Leon G now owns 1,286,040 shares of the company’s stock valued at $28,846,000 after purchasing an additional 10,628 shares during the period. Beach Point Capital Management LP boosted its stake 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 valued at $19,111,000 after purchasing an additional 669,336 shares during the period. Invesco Ltd. purchased a new position in shares of Finance of America Companies in the third quarter valued at approximately $3,147,000. Geode Capital Management LLC boosted its stake in shares of Finance of America Companies by 66.2% in the second quarter. Geode Capital Management LLC now owns 136,672 shares of the company’s stock valued at $3,188,000 after purchasing an additional 54,429 shares during the period. Finally, Purpose Unlimited Inc. purchased a new position in shares of Finance of America Companies in the fourth quarter valued at approximately $2,325,000. 97.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FOA shares. Wall Street Zen upgraded shares of Finance of America Companies from a “sell” rating to a “hold” rating in a research report on Monday, April 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Finance of America Companies in a research report on Monday, December 29th. Zacks Research upgraded shares of Finance of America Companies to a “hold” rating in a research report on Monday, April 6th. Finally, B. Riley Financial started coverage on shares of Finance of America Companies in a research report on Thursday, April 2nd. They set a “buy” rating and a $22.50 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.00.

About Finance of America Companies

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.