Finance of America Companies (NYSE:FOA) CIO Sells $111,826.92 in Stock

Finance of America Companies Inc. (NYSE:FOA) CIO Jeremy Prahm sold 5,228 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $21.39, for a total value of $111,826.92. Following the sale, the executive directly owned 226,968 shares in the company, valued at $4,854,845.52. This trade represents a 2.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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, April 20th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The shares were sold at an average price of $23.01, for a total value of $138,060.00.
• On Monday, April 6th, Jeremy Prahm sold 5,228 shares of Finance of America Companies stock. The shares were sold at an average price of $17.83, for a total value of $93,215.24.
• On Monday, March 23rd, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The shares were sold at an average price of $17.50, for a total value of $105,000.00.

Finance of America Companies Stock Down 7.5%

NYSE FOA traded down $1.61 during midday trading on Monday, hitting $19.89. 44,151 shares of the company traded hands, compared to its average volume of 89,324. The company has a debt-to-equity ratio of 47.80, a current ratio of 2.67 and a quick ratio of 2.67. The company has a market cap of $170.02 million, a PE ratio of 49.71 and a beta of 1.69. The company’s 50-day simple moving average is $18.94 and its 200-day simple moving average is $21.52. Finance of America Companies Inc. has a 52 week low of $15.77 and a 52 week high of $29.58.

Finance of America Companies (NYSE:FOA) last announced its earnings results on Tuesday, May 5th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.26. The business had revenue of $120.14 million for the quarter, compared to analysts’ expectations of $115.31 million. Finance of America Companies had a return on equity of 22.59% and a net margin of 7.20%. As a group, equities research analysts forecast that Finance of America Companies Inc. will post 4.5 earnings per share for the current year.

Analyst Ratings Changes

FOA has been the topic of several recent research reports. Zacks Research raised Finance of America Companies to a “hold” rating in a research report on Monday, April 6th. B. Riley Financial initiated coverage on Finance of America Companies in a research report on Thursday, April 2nd. They set a “buy” rating and a $22.50 target price on the stock. Finally, Wall Street Zen raised Finance of America Companies from a “sell” rating to a “hold” rating in a research report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.00.

Hedge Funds Weigh In On Finance of America Companies

Several hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd grew its position in Finance of America Companies by 183.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company’s stock worth $28,000 after purchasing an additional 822 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Finance of America Companies in the third quarter worth $29,000. JPMorgan Chase & Co. raised 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 worth $49,000 after buying an additional 2,050 shares during the last quarter. Bank of America Corp DE lifted its stake 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 worth $65,000 after buying an additional 2,242 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Finance of America Companies during the second quarter worth $57,000. Institutional investors and hedge funds 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.