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

Key Points

• Finance of America CIO Jeremy Prahm sold 6,000 shares at an average price of $16.82, worth $100,920, reducing his direct stake by 3.45% to 167,856 shares. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• FOA shares traded near $15.67, close to their 52-week low of $15.55, after the company reported quarterly EPS of $0.84 versus the $1.04 consensus estimate and revenue of $62.48 million versus $121.94 million expected.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $30.50; institutional investors and hedge funds own 97.20% of the stock.

Finance of America Companies Inc. (NYSE:FOA - Get Free Report) CIO Jeremy Prahm sold 6,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $16.82, for a total transaction of $100,920.00. Following the completion of the sale, the executive directly owned 167,856 shares of the company's stock, valued at $2,823,337.92. This trade represents a 3.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 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 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 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 transaction of $181,541.40.

Finance of America Companies Stock Performance

FOA stock traded down $0.29 during midday trading on Thursday, reaching $15.67. The company had a trading volume of 88,292 shares, compared to its average volume of 74,144. The firm has a market capitalization of $271.23 million, a PE ratio of -5.21 and a beta of 1.65. The stock has a 50 day moving average price of $22.10 and a 200 day moving average price of $20.54. Finance of America Companies Inc. has a fifty-two week low of $15.55 and a fifty-two week 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.

Finance of America Companies (NYSE:FOA - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.84 earnings per share (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 company had revenue of $62.48 million for the quarter, compared to analyst estimates of $121.94 million. Analysts anticipate that Finance of America Companies Inc. will post 4.16 earnings per share for the current year.

Hedge Funds Weigh In On Finance of America Companies

A number of hedge funds have recently modified their holdings of FOA. Beach Point Capital Management LP boosted its holdings in shares of 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 buying an additional 669,336 shares during the period. Purpose Unlimited Inc. acquired a new position in Finance of America Companies in the 4th quarter valued at $2,325,000. Dimensional Fund Advisors LP boosted its holdings in Finance of America Companies by 56.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 102,061 shares of the company's stock valued at $1,694,000 after purchasing an additional 36,929 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of 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 valued at $80,000 after buying an additional 2,035 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Finance of America Companies in the 2nd quarter valued at $240,000. 97.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FOA has been the subject of several recent analyst reports. Zacks Research cut shares of Finance of America Companies from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 11th. Weiss Ratings lowered shares of Finance of America Companies from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, August 11th. Alliance Global Partners started coverage on shares of Finance of America Companies in a research report on Wednesday, July 22nd. They set a "buy" rating and a $30.00 price objective on the stock. B. Riley Financial reiterated 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. Finally, Wall Street Zen raised Finance of America Companies from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $30.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.