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

Key Points

• Finance of America CIO Jeremy Prahm sold 6,000 shares at an average price of $19.87, totaling $119,220. The transaction was made under a pre-arranged Rule 10b5-1 plan and reduced his ownership by 3.34%.
• FOA shares fell to $18.86, while the company’s latest quarterly results missed expectations, reporting $0.84 in EPS versus the $1.04 consensus and revenue of $62.48 million versus $121.94 million expected.
• Analyst sentiment is mixed, with two Buy, one Hold and two Sell ratings; the stock carries a consensus Hold rating and a $30.50 price target. Institutional investors own approximately 97.2% of the company.

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 dated Monday, August 24th. The stock was sold at an average price of $19.87, for a total transaction of $119,220.00. Following the transaction, the executive owned 173,856 shares in the company, valued at approximately $3,454,518.72. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 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 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 Stock Performance

Shares of FOA stock traded down $0.81 during trading hours on Wednesday, reaching $18.86. 53,079 shares of the company's stock were exchanged, compared to its average volume of 74,628. The company has a debt-to-equity ratio of 60.78, a current ratio of 3.02 and a quick ratio of 3.02. The company's 50 day moving average is $23.29 and its two-hundred day moving average is $20.89. The company has a market cap of $326.47 million, a P/E ratio of -6.27 and a beta of 1.65. Finance of America Companies Inc. has a 1 year low of $15.77 and a 1 year high of $29.79.

Finance of America Companies (NYSE:FOA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.84 earnings per share for the quarter, missing analysts' consensus estimates of $1.04 by ($0.20). The business had revenue of $62.48 million during the quarter, compared to analysts' expectations of $121.94 million. Finance of America Companies had a negative net margin of 0.10% and a positive return on equity of 28.39%. Equities research analysts anticipate that Finance of America Companies Inc. will post 4.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Finance of America Companies

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE grew its stake in Finance of America Companies by 3,503.1% in the 4th quarter. Bank of America Corp DE now owns 2,306 shares of the company's stock valued at $65,000 after acquiring an additional 2,242 shares during the last quarter. Geode Capital Management LLC raised its position in Finance of America Companies by 66.2% during the second 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 last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Finance of America Companies by 4,270.8% in the second quarter. JPMorgan Chase & Co. now owns 2,098 shares of the company's stock valued at $49,000 after purchasing an additional 2,050 shares in the last quarter. American Century Companies Inc. grew its position in shares of Finance of America Companies by 3.1% in the second quarter. American Century Companies Inc. now owns 88,554 shares of the company's stock valued at $2,065,000 after purchasing an additional 2,636 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in shares of Finance of America Companies in the second quarter valued at approximately $103,000. 97.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Alliance Global Partners initiated coverage on shares of Finance of America Companies in a report on Wednesday, July 22nd. They set a "buy" rating and a $30.00 price objective on the stock. Wall Street Zen raised shares of Finance of America Companies from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. 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. Zacks Research lowered Finance of America Companies from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 11th. Finally, 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. Two 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, Finance of America Companies has a consensus rating of "Hold" and a consensus target price of $30.50.

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.

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