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 company’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $22.26, for a total value of $133,560.00. Following the completion of the transaction, the executive owned 185,856 shares in the company, valued at approximately $4,137,154.56. The trade was a 3.13% decrease in their position. The transaction was disclosed in a legal filing 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, 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 stock was sold at an average price of $19.68, for a total value of $118,080.00.

Finance of America Companies Stock Performance

Shares of FOA traded down $0.21 during mid-day trading on Monday, hitting $21.91. The stock had a trading volume of 53,538 shares, compared to its average volume of 77,026. The firm has a market cap of $194.79 million, a P/E ratio of -7.28 and a beta of 1.66. The business has a fifty day moving average price of $22.96 and a 200-day moving average price of $21.08. The company has a debt-to-equity ratio of 43.57, a current ratio of 2.62 and a quick ratio of 2.62. Finance of America Companies Inc. has a 52 week low of $15.77 and a 52 week high of $29.79.

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). The firm had revenue of $62.48 million for the quarter, compared to the consensus estimate of $121.94 million. Finance of America Companies had a positive return on equity of 28.51% and a negative net margin of 0.10%. On average, equities research analysts expect that Finance of America Companies Inc. will post 4.44 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on FOA shares. B. Riley Financial reiterated a “buy” rating and set a $32.00 target price (up from $25.00) on shares of Finance of America Companies in a research report on Wednesday, August 5th. Wall Street Zen lowered shares of Finance of America Companies from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Alliance Global Partners assumed coverage on shares of Finance of America Companies in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $30.00 price target on the stock. Finally, Weiss Ratings upgraded shares of Finance of America Companies from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, June 12th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $30.50.

Hedge Funds Weigh In On Finance of America Companies

Several hedge funds have recently made changes to their positions in the stock. Beach Point Capital Management LP lifted its holdings in Finance of America Companies by 557.5% during the 4th quarter. Beach Point Capital Management LP now owns 789,399 shares of the company’s stock worth $19,111,000 after purchasing an additional 669,336 shares in the last quarter. Invesco Ltd. purchased a new stake in shares of Finance of America Companies in the third quarter worth about $3,147,000. Geode Capital Management LLC boosted its position 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 acquiring an additional 54,429 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of 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 valued at $1,694,000 after acquiring an additional 36,929 shares during the period. Finally, Purpose Unlimited Inc. purchased a new position in Finance of America Companies during the fourth quarter valued at approximately $2,325,000. 97.20% of the stock is currently owned by hedge funds and other institutional investors.

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.