Finance of America Companies (NYSE:FOA) Stock: Insider Jeremy Prahm Sells 5,610 Shares

Finance of America Companies Inc. (NYSE:FOA) CIO Jeremy Prahm sold 5,610 shares of the business’s stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $10.74, for a total transaction of $60,251.40. Following the completion of the sale, the executive owned 150,246 shares of the company’s stock, valued at approximately $1,613,642.04. This represents a 3.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, October 5th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The stock was sold at an average price of $13.20, for a total transaction of $79,200.00.
• 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 shares were 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 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 shares were sold at an average price of $22.26, for a total value of $133,560.00.

Finance of America Companies Stock Up 5.1%

Shares of NYSE FOA opened at $11.54 on Friday. Finance of America Companies Inc. has a 12-month low of $10.63 and a 12-month high of $29.79. The stock’s fifty day simple moving average is $15.35 and its two-hundred day simple moving average is $19.54. The stock has a market capitalization of $199.67 million, a PE ratio of -3.83 and a beta of 1.68. 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 (NYSE:FOA) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.20). The company had revenue of $62.48 million during the quarter, compared to the consensus estimate of $121.94 million. Finance of America Companies had a positive return on equity of 28.39% and a negative net margin of 0.10%. As a group, analysts expect that Finance of America Companies Inc. will post 3.87 EPS for the current fiscal year.

Institutional Trading of Finance of America Companies

Several hedge funds and other institutional investors have recently made changes to their positions in FOA. Public Employees Retirement System of Ohio acquired a new stake in shares of Finance of America Companies in the 2nd quarter worth $240,000. First Trust Advisors LP grew its stake in 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 worth $286,000 after buying an additional 5,236 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in 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 worth $1,694,000 after buying an additional 36,929 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased 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 valued at $80,000 after buying an additional 2,035 shares in the last quarter. Hedge funds and other institutional investors own 97.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on FOA. Wall Street Zen upgraded shares of Finance of America Companies from a “sell” rating to a “hold” rating in a report on Saturday, October 3rd. Alliance Global Partners assumed 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 price target for the company. B. Riley Financial restated 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. Weiss Ratings cut shares of Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Finally, Zacks Research downgraded shares of Finance of America Companies from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, 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.