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

Key Points

• Finance of America Companies CIO Jeremy Prahm sold 6,000 shares at an average price of $13.20, generating $79,200. The Rule 10b5-1 transaction reduced his direct holdings by 3.71% to 155,856 shares.
• Prahm has made six separate sales of 6,000 shares since August, with the average sale price declining from $22.26 to $13.20.
• FOA shares traded at $13.05, near their 52-week low, after the company missed quarterly earnings and revenue expectations. Analysts’ consensus rating is Hold, with a consensus price target of $30.50.

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, October 5th. The stock was sold at an average price of $13.20, for a total transaction of $79,200.00. Following the sale, the executive directly owned 155,856 shares of the company's stock, valued at $2,057,299.20. This represents a 3.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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, 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 transaction of $83,880.00.
• On Tuesday, September 8th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The stock was 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 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 shares were sold at an average price of $22.26, for a total value of $133,560.00.

Finance of America Companies Price Performance

Shares of NYSE:FOA traded up $0.07 during trading on Wednesday, reaching $13.05. The stock had a trading volume of 50,451 shares, compared to its average volume of 74,030. The company has a debt-to-equity ratio of 60.78, a quick ratio of 3.02 and a current ratio of 3.02. The business has a fifty day moving average price of $17.99 and a 200-day moving average price of $19.98. The stock has a market cap of $225.98 million, a PE ratio of -4.34 and a beta of 1.68. Finance of America Companies Inc. has a 1-year low of $12.15 and a 1-year high of $29.79.

Finance of America Companies (NYSE:FOA - Get Free Report) last issued its quarterly 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). The firm had revenue of $62.48 million for the quarter, compared to analysts' expectations of $121.94 million. Finance of America Companies had a positive return on equity of 28.39% and a negative net margin of 0.10%. On average, equities analysts forecast that Finance of America Companies Inc. will post 3.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings lowered shares of Finance of America Companies from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, August 11th. B. Riley Financial reissued 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. Alliance Global Partners initiated coverage on Finance of America Companies in a report on Wednesday, July 22nd. They set a "buy" rating and a $30.00 target price on the stock. Zacks Research lowered Finance of America Companies from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen raised Finance of America Companies from a "sell" rating to a "hold" rating in a report on Saturday. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Finance of America Companies has a consensus rating of "Hold" and a consensus price target of $30.50.

Institutional Investors Weigh In On Finance of America Companies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new position in Finance of America Companies in the 2nd quarter valued at about $240,000. First Trust Advisors LP grew its stake in shares of Finance of America Companies by 43.7% in the 1st quarter. First Trust Advisors LP now owns 17,210 shares of the company's stock valued at $286,000 after buying an additional 5,236 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 buying an additional 36,929 shares during the last quarter. Purpose Unlimited Inc. acquired a new stake in shares of Finance of America Companies during the 4th quarter worth approximately $2,325,000. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Finance of America Companies by 160.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,304 shares of the company's stock valued at $80,000 after buying an additional 2,035 shares during the period. 97.20% of the stock is currently owned by institutional investors and hedge funds.

Finance of America Companies Company Profile

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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