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

Key Points

• CIO Jeremy Prahm sold 6,000 shares at an average price of $17.50 on March 23rd for a total of $105,000, reducing his stake by 3.46% to 167,294 shares, as disclosed in an SEC filing.
• FOA shares traded down 1.8% to $16.91 with a market cap of $144.6M and a trailing P/E of 8.67, trading near their 12‑month low amid below‑average volume.
• Finance of America beat EPS expectations ($0.69 vs. $0.65) but missed revenue estimates, and analyst sentiment is mixed-to-negative with a consensus rating of "Reduce" and a $29.50 average target; institutional investors own about 97.2% of the stock.

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, March 23rd. The stock was sold at an average price of $17.50, for a total transaction of $105,000.00. Following the sale, the executive directly owned 167,294 shares of the company's stock, valued at approximately $2,927,645. The trade was a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Finance of America Companies Stock Down 1.8%

Shares of FOA traded down $0.32 on Wednesday, reaching $16.91. The company's stock had a trading volume of 62,281 shares, compared to its average volume of 99,123. Finance of America Companies Inc. has a twelve month low of $16.09 and a twelve month high of $29.58. The stock has a market capitalization of $144.61 million, a PE ratio of 8.67 and a beta of 1.65. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 47.80. The firm has a fifty day moving average of $20.77 and a 200-day moving average of $22.34.

Finance of America Companies (NYSE:FOA - Get Free Report) last released its quarterly earnings results on Tuesday, March 10th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. The business had revenue of $73.51 million during the quarter, compared to the consensus estimate of $109.45 million. Finance of America Companies had a return on equity of 10.30% and a net margin of 9.09%. Equities analysts predict that Finance of America Companies Inc. will post 0.75 EPS for the current year.

Analyst Ratings Changes

FOA has been the subject of several recent research reports. Wall Street Zen upgraded Finance of America Companies from a "sell" rating to a "hold" rating in a report on Saturday. UBS Group set a $29.50 price objective on Finance of America Companies and gave the company a "neutral" rating in a research note on Wednesday, November 26th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Finance of America Companies in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Finance of America Companies presently has a consensus rating of "Reduce" and an average target price of $29.50.

Hedge Funds Weigh In On Finance of America Companies

A number of hedge funds and other institutional investors have recently modified their holdings of FOA. Bank of America Corp DE increased its position in shares of Finance of America Companies by 3,503.1% during the fourth 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 lifted its holdings 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 period. Police & Firemen s Retirement System of New Jersey purchased a new position in Finance of America Companies in the second quarter worth $29,000. JPMorgan Chase & Co. boosted its position in 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 worth $49,000 after purchasing an additional 2,050 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Finance of America Companies by 3.1% in the 2nd 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 period. Hedge funds and other institutional investors own 97.20% of the company's stock.

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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