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

Finance of America Companies Inc. (NYSE:FOA) CIO Jeremy Prahm sold 6,000 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $22.26, for a total value of $133,560.00. Following the transaction, the executive owned 185,856 shares in the company, valued at $4,137,154.56. This trade represents a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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, 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.
• On Monday, May 18th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The shares were sold at an average price of $19.68, for a total transaction of $118,080.00.

Finance of America Companies Trading Down 0.8%

Shares of FOA stock opened at $21.65 on Wednesday. The firm has a market cap of $192.46 million, a P/E ratio of -7.19 and a beta of 1.65. Finance of America Companies Inc. has a 1-year low of $15.77 and a 1-year high of $29.79. The company has a debt-to-equity ratio of 43.57, a current ratio of 2.62 and a quick ratio of 2.62. The firm’s 50-day simple moving average is $23.05 and its 200-day simple moving average is $21.05.

Finance of America Companies (NYSE:FOA) last released its earnings results on Tuesday, August 4th. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). Finance of America Companies had a negative net margin of 0.10% and a positive return on equity of 28.51%. The company had revenue of $62.48 million during the quarter, compared to analysts’ expectations of $121.94 million. As a group, equities analysts forecast that Finance of America Companies Inc. will post 4.44 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. B. Riley Financial restated a “buy” rating and set a $32.00 price objective (up from $25.00) on shares of Finance of America Companies in a report on Wednesday, August 5th. Wall Street Zen downgraded Finance of America Companies from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Alliance Global Partners began coverage on Finance of America Companies in a research note on Wednesday, July 22nd. They set a “buy” rating and a $30.00 price target for the company. Finally, Weiss Ratings upgraded Finance of America Companies from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, June 12th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $30.50.

Hedge Funds Weigh In On Finance of America Companies

A number of hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd lifted its stake in shares of Finance of America Companies by 183.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company’s stock worth $28,000 after purchasing an additional 822 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Finance of America Companies in the third quarter valued at about $29,000. Charles Schwab Investment Management Inc. grew its stake in shares of Finance of America Companies by 8.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,241 shares of the company’s stock valued at $442,000 after buying an additional 1,397 shares in the last quarter. Barclays PLC raised its holdings in shares of Finance of America Companies by 23.9% during the 4th quarter. Barclays PLC now owns 7,907 shares of the company’s stock valued at $191,000 after buying an additional 1,525 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Finance of America Companies by 4,270.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,098 shares of the company’s stock worth $49,000 after acquiring an additional 2,050 shares in the last quarter. Hedge funds and other institutional investors own 97.20% of the company’s stock.

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.