Insider Selling: Finance of America Companies (NYSE:FOA) CIO Sells $100,920.00 in Stock

Finance of America Companies Inc. (NYSE:FOA) CIO Jeremy Prahm sold 6,000 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $16.82, for a total value of $100,920.00. Following the transaction, the executive owned 167,856 shares of the company’s stock, valued at approximately $2,823,337.92. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through 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, 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 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 stock was sold at an average price of $22.26, for a total value of $133,560.00.
• On Monday, June 15th, Jeremy Prahm sold 8,860 shares of Finance of America Companies stock. The stock was sold at an average price of $20.49, for a total value of $181,541.40.

Finance of America Companies Price Performance

Shares of FOA opened at $15.27 on Friday. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 60.78. Finance of America Companies Inc. has a twelve month low of $15.17 and a twelve month high of $29.79. The stock has a market capitalization of $264.29 million, a P/E ratio of -5.07 and a beta of 1.65. The company has a 50 day moving average of $21.62 and a 200-day moving average of $20.47.

Finance of America Companies (NYSE:FOA) last announced 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). 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 the consensus estimate of $121.94 million. As a group, equities research analysts forecast that Finance of America Companies Inc. will post 4.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Finance of America Companies

A number of hedge funds and other institutional investors have recently bought and sold shares of FOA. Beach Point Capital Management LP raised its stake in Finance of America Companies by 557.5% in the fourth quarter. Beach Point Capital Management LP now owns 789,399 shares of the company’s stock valued at $19,111,000 after buying an additional 669,336 shares during the period. Invesco Ltd. bought a new position in shares of Finance of America Companies during the 3rd quarter worth approximately $3,147,000. Geode Capital Management LLC boosted its stake in shares of Finance of America Companies by 66.2% during the 2nd quarter. Geode Capital Management LLC now owns 136,672 shares of the company’s stock worth $3,188,000 after acquiring an additional 54,429 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of 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 acquiring an additional 36,929 shares during the last quarter. Finally, Purpose Unlimited Inc. acquired a new position in shares of Finance of America Companies during the 4th quarter worth approximately $2,325,000. Institutional investors own 97.20% of the company’s stock.

Wall Street Analyst Weigh In

FOA has been the subject of a number of recent research reports. Weiss Ratings downgraded shares of Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Zacks Research lowered Finance of America Companies from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Wall Street Zen cut Finance of America Companies from a “hold” rating to a “sell” rating in a research report on Saturday. B. Riley Financial reissued a “buy” rating and set a $32.00 price target (up from $25.00) on shares of Finance of America Companies in a research report on Wednesday, August 5th. Finally, 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 for the company. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $30.50.

Finance of America Companies Company Profile

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.