Finance of America Companies (NYSE:FOA) CIO Sells $130,380.00 in Stock

Key Points

• FOA CIO Jeremy Prahm sold 6,000 shares for $130,380 under a pre-arranged Rule 10b5-1 trading plan, reducing his position by 3.23% to 179,856 shares.
• Finance of America Companies shares rose 3.5% to $22.30, while the company’s latest quarterly results missed expectations with $0.84 in EPS versus a $1.04 consensus estimate and revenue of $62.48 million versus $121.94 million expected.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and a $30.50 target price, while institutional investors own 97.2% of outstanding shares.

Finance of America Companies Inc. (NYSE:FOA - Get Free Report) CIO Jeremy Prahm sold 6,000 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $21.73, for a total value of $130,380.00. Following the transaction, the executive owned 179,856 shares of the company's stock, valued at approximately $3,908,270.88. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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.
• 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.
• 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 Up 3.5%

Shares of NYSE:FOA traded up $0.75 during mid-day trading on Wednesday, reaching $22.30. 33,745 shares of the stock were exchanged, compared to its average volume of 76,412. The stock's 50 day simple moving average is $23.05 and its 200-day simple moving average is $21.05. Finance of America Companies Inc. has a one year low of $15.77 and a one year high of $29.79. The company has a market cap of $198.29 million, a P/E ratio of -7.41 and a beta of 1.65. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 43.57.

Finance of America Companies (NYSE:FOA - Get Free Report) last released its 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). Finance of America Companies had a negative net margin of 0.10% and a positive return on equity of 28.51%. The firm had revenue of $62.48 million during the quarter, compared to the consensus estimate of $121.94 million. As a group, equities research analysts predict that Finance of America Companies Inc. will post 4.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FOA. B. Riley Financial restated a "buy" rating and set a $32.00 target price (up from $25.00) on shares of Finance of America Companies in a report on Wednesday, August 5th. Alliance Global Partners began coverage on shares of 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 cut shares of Finance of America Companies from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. 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 research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Finance of America Companies presently has a consensus rating of "Hold" and a consensus target price of $30.50.

Institutional Investors Weigh In On Finance of America Companies

Large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd increased its holdings in Finance of America Companies by 183.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company's stock worth $28,000 after buying an additional 822 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Finance of America Companies in the third quarter valued at $29,000. JPMorgan Chase & Co. grew its position in shares of Finance of America Companies by 4,270.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,098 shares of the company's stock valued at $49,000 after acquiring an additional 2,050 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Finance of America Companies in the 2nd quarter valued at about $57,000. Finally, Bank of America Corp DE increased its stake in shares of Finance of America Companies by 3,503.1% during the 4th quarter. Bank of America Corp DE now owns 2,306 shares of the company's stock worth $65,000 after purchasing an additional 2,242 shares during the last quarter. Institutional investors and hedge funds own 97.20% of the company's stock.

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.

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