Finance of America Companies (NYSE:FOA) CIO Sells $60,251.40 in Stock

Key Points

• Finance of America CIO Jeremy Prahm sold 5,610 shares for $60,251.40 under a pre-arranged Rule 10b5-1 trading plan, reducing his holdings by 3.6% to 150,246 shares.
• FOA shares fell to $10.87, near their 52-week low of $10.63, while the company’s latest quarterly results missed expectations on both earnings and revenue.
• Analyst views remain mixed, producing a consensus “Hold” rating and a $30.50 price target; institutional investors own 97.2% of the stock.

Finance of America Companies Inc. (NYSE:FOA - Get Free Report) CIO Jeremy Prahm sold 5,610 shares of the firm's stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $10.74, for a total transaction of $60,251.40. Following the transaction, the executive owned 150,246 shares of the company's stock, valued at approximately $1,613,642.04. This represents a 3.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, October 5th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The shares were sold at an average price of $13.20, for a total value of $79,200.00.
• On Monday, September 21st, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The shares were sold at an average price of $13.98, for a total value of $83,880.00.
• 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 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 stock was 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.

Finance of America Companies Price Performance

Shares of Finance of America Companies stock traded down $0.37 during midday trading on Wednesday, hitting $10.87. 70,072 shares of the company were exchanged, compared to its average volume of 74,289. 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 firm has a market cap of $188.16 million, a P/E ratio of -3.61 and a beta of 1.68. Finance of America Companies Inc. has a 52 week low of $10.63 and a 52 week high of $29.79. The firm has a 50 day simple moving average of $15.80 and a 200-day simple moving average of $19.63.

Finance of America Companies (NYSE:FOA - Get Free Report) last announced 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). Finance of America Companies had a negative net margin of 0.10% and a positive return on equity of 28.39%. The company had revenue of $62.48 million during the quarter, compared to the consensus estimate of $121.94 million. Research analysts forecast that Finance of America Companies Inc. will post 3.87 earnings per share for the current year.

Institutional Investors Weigh In On Finance of America Companies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd boosted its stake in Finance of America Companies by 160.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,304 shares of the company's stock worth $80,000 after purchasing an additional 2,035 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Finance of America Companies during the first quarter worth $90,000. First Trust Advisors LP grew its holdings in shares of Finance of America Companies by 43.7% during the first quarter. First Trust Advisors LP now owns 17,210 shares of the company's stock worth $286,000 after purchasing an additional 5,236 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Finance of America Companies by 56.7% during the first 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. 97.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FOA shares. Alliance Global Partners initiated 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 target price on the stock. Zacks Research cut shares of Finance of America Companies from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 11th. 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 report on Wednesday, August 5th. Weiss Ratings downgraded shares of Finance of America Companies from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded shares of Finance of America Companies from a "sell" rating to a "hold" rating in a research report on Saturday, October 3rd. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Finance of America Companies presently has a consensus rating of "Hold" and a consensus price target of $30.50.

About Finance of America Companies

Finance of America Companies, Inc NYSE: FOA is a financial services company focused on helping older homeowners use their home equity as part of a broader retirement strategy. Through its subsidiaries, the company provides reverse mortgage products and related solutions designed to help homeowners access cash, supplement retirement income, manage expenses or remain in their homes.

The company's reverse mortgage business, Finance of America Reverse, offers federally insured Home Equity Conversion Mortgages as well as proprietary reverse mortgage products, including HomeSafe.

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