Insider Selling: Finance of America Companies (NYSE:FOA) CIO Sells $83,880.00 in Stock

Finance of America Companies Inc. (NYSE:FOA) CIO Jeremy Prahm sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $13.98, for a total value of $83,880.00. Following the transaction, the executive owned 161,856 shares in the company, valued at $2,262,746.88. This trade represents a 3.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 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 shares were 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 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 stock was sold at an average price of $22.26, for a total transaction of $133,560.00.

Finance of America Companies Stock Performance

Shares of FOA opened at $14.43 on Friday. The business’s fifty day simple moving average is $19.61 and its two-hundred day simple moving average is $20.21. 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 12 month low of $13.73 and a 12 month high of $29.79. The company has a market cap of $249.78 million, a price-to-earnings ratio of -4.79 and a beta of 1.65.

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 analysts’ expectations of $121.94 million. Research analysts anticipate that Finance of America Companies Inc. will post 4.16 earnings per share for the current fiscal year.

Institutional Trading of Finance of America Companies

Several institutional investors and hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its holdings in 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 acquiring an additional 2,035 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Finance of America Companies during the 1st quarter valued at approximately $90,000. First Trust Advisors LP grew its stake in shares of Finance of America Companies by 43.7% in the 1st quarter. First Trust Advisors LP now owns 17,210 shares of the company’s stock worth $286,000 after buying an additional 5,236 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Finance of America Companies by 56.7% in the first quarter. Dimensional Fund Advisors LP now owns 102,061 shares of the company’s stock worth $1,694,000 after acquiring an additional 36,929 shares in the last quarter. Finally, Purpose Unlimited Inc. purchased a new position in shares of Finance of America Companies in the 4th quarter worth approximately $2,325,000. 97.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on FOA. B. Riley Financial restated a “buy” rating and issued a $32.00 target price (up from $25.00) on shares of Finance of America Companies in a report on Wednesday, August 5th. Weiss Ratings cut Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Alliance Global Partners began coverage on Finance of America Companies in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $30.00 price target on the stock. Wall Street Zen lowered Finance of America Companies from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. Finally, Zacks Research cut Finance of America Companies from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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 homeowners access and manage the value of their homes. The company’s primary business is its retirement solutions platform, which provides home-equity products designed to support financial planning and cash-flow needs for older homeowners.

Finance of America’s offerings include reverse mortgage products, including federally insured Home Equity Conversion Mortgages, as well as proprietary reverse mortgage solutions.