Finance of America Companies (NYSE:FOA) CIO Sells 6,000 Shares

Key Points

• Finance of America CIO Jeremy Prahm sold 6,000 shares at an average price of $13.98, generating $83,880. The Rule 10b5-1 transaction reduced his holdings by 3.57% to 161,856 shares.
• Prahm has made five consecutive 6,000-share sales since August, with sale prices declining from $22.26 to $13.98 as FOA’s stock fell. FOA recently traded at $15.13, near its 52-week low of $13.73.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and a $30.50 price target, while the latest quarterly results missed estimates for both EPS and revenue. Institutional investors own approximately 97.2% of the shares.

Finance of America Companies Inc. (NYSE:FOA - Get Free Report) CIO Jeremy Prahm sold 6,000 shares of the business's stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $13.98, for a total value of $83,880.00. Following the completion of the sale, the executive owned 161,856 shares of the company's stock, valued at approximately $2,262,746.88. This represents a 3.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 shares were 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 stock was sold at an average price of $19.87, for a total transaction 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 transaction 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 transaction of $133,560.00.

Finance of America Companies Stock Performance

NYSE:FOA traded up $0.53 during trading hours on Tuesday, reaching $15.13. 60,811 shares of the company's stock were exchanged, compared to its average volume of 74,338. Finance of America Companies Inc. has a 1-year low of $13.73 and a 1-year high of $29.79. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 60.78. The firm has a market capitalization of $261.92 million, a price-to-earnings ratio of -5.03 and a beta of 1.65. The company has a 50-day moving average of $20.25 and a 200 day moving average of $20.28.

Finance of America Companies (NYSE:FOA - Get Free Report) last announced its earnings results 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 negative net margin of 0.10% and a positive return on equity of 28.39%. 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 EPS for the current year.

Hedge Funds Weigh In On Finance of America Companies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Beach Point Capital Management LP increased its position 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. Purpose Unlimited Inc. purchased a new position in Finance of America Companies in the 4th quarter valued at about $2,325,000. Dimensional Fund Advisors LP boosted its stake 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 purchasing an additional 36,929 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Finance of America Companies during the second quarter valued at approximately $240,000. Finally, First Trust Advisors LP grew its position in shares of Finance of America Companies by 43.7% in the first quarter. First Trust Advisors LP now owns 17,210 shares of the company's stock valued at $286,000 after purchasing an additional 5,236 shares during the period. 97.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. B. Riley Financial reiterated a "buy" rating and issued a $32.00 target price (up from $25.00) on shares of Finance of America Companies in a research note on Wednesday, August 5th. Wall Street Zen cut shares of Finance of America Companies from a "hold" rating to a "sell" rating in a research note on Saturday, September 12th. Weiss Ratings downgraded shares of Finance of America Companies from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, August 11th. Alliance Global Partners assumed coverage on shares of Finance of America Companies in a report on Wednesday, July 22nd. They issued a "buy" rating and a $30.00 target price on the stock. Finally, Zacks Research lowered shares of Finance of America Companies from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company 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 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.

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