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

Finance of America Companies Inc. (NYSE:FOA) CIO Jeremy Prahm sold 6,000 shares of Finance of America Companies stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $13.20, for a total transaction of $79,200.00. Following the completion of the sale, the executive directly owned 155,856 shares of the company’s stock, valued at $2,057,299.20. The trade was a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 value 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 value 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 value of $119,220.00.
• On Monday, August 10th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The shares were 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.

Finance of America Companies Stock Performance

NYSE FOA opened at $13.10 on Friday. The business’s 50-day moving average price is $17.56 and its 200 day moving average price is $19.93. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 60.78. Finance of America Companies Inc. has a twelve month low of $12.15 and a twelve month high of $29.79. The company has a market capitalization of $226.76 million, a PE ratio of -4.35 and a beta of 1.68.

Finance of America Companies (NYSE:FOA) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). The company had revenue of $62.48 million for 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%. On average, research analysts predict that Finance of America Companies Inc. will post 3.87 earnings per share for the current year.

Institutional Investors Weigh In On Finance of America Companies

Large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its position in Finance of America Companies by 160.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,304 shares of the company’s stock worth $80,000 after acquiring an additional 2,035 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Finance of America Companies in the first quarter valued at approximately $90,000. First Trust Advisors LP raised its stake in shares of Finance of America Companies by 43.7% during the first 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 during the period. Dimensional Fund Advisors LP raised its stake in shares of 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 valued at $1,694,000 after purchasing an additional 36,929 shares during the period. Finally, Purpose Unlimited Inc. acquired a new position in shares of Finance of America Companies during the fourth quarter worth $2,325,000. Institutional investors and hedge funds own 97.20% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Finance of America Companies

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.