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

Finance of America Companies Inc. (NYSE:FOA) CIO Jeremy Prahm sold 5,610 shares of the business’s stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $10.74, for a total value of $60,251.40. Following the transaction, the executive directly owned 150,246 shares in the company, valued at $1,613,642.04. This trade represents a 3.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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, 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 transaction 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 transaction 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 transaction 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 transaction 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 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 transaction of $133,560.00.

Finance of America Companies Price Performance

Shares of FOA stock opened at $11.35 on Friday. The firm has a fifty day simple moving average of $15.14 and a 200-day simple moving average of $19.48. The company has a market capitalization of $196.42 million, a PE ratio of -3.77 and a beta of 1.68. Finance of America Companies Inc. has a twelve month low of $10.63 and a twelve month high of $29.79. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 60.78.

Finance of America Companies (NYSE:FOA) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.20). Finance of America Companies had a positive return on equity of 28.39% and a negative net margin of 0.10%. The firm had revenue of $62.48 million for the quarter, compared to analysts’ expectations of $121.94 million. Equities research analysts anticipate that Finance of America Companies Inc. will post 3.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

FOA has been the topic of several analyst reports. B. Riley Financial restated a “buy” rating and set a $32.00 price objective (up from $25.00) on shares of Finance of America Companies in a report on Wednesday, August 5th. Zacks Research lowered shares of Finance of America Companies from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th. Weiss Ratings cut shares of Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Alliance Global Partners initiated coverage on shares of Finance of America Companies in a research note on Wednesday, July 22nd. They set a “buy” rating and a $30.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Finance of America Companies from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Finance of America Companies has an average rating of “Hold” and an average target price of $30.50.

Institutional Trading of Finance of America Companies

Several institutional investors and hedge funds have recently bought and sold shares of the company. 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 acquiring an additional 2,035 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Finance of America Companies in the first quarter worth $90,000. First Trust Advisors LP increased its stake in 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 valued at $286,000 after purchasing an additional 5,236 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in 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 valued at $1,694,000 after purchasing an additional 36,929 shares during the last quarter. Institutional investors and hedge funds own 97.20% of the company’s stock.

Finance of America Companies Company Profile

Finance of America Companies Inc (NYSE:FOA) is a financial services company focused on helping homeowners access and manage home equity. Its primary business is conducted through Finance of America Reverse, which provides reverse mortgage products and related services to older homeowners.

The company offers federally insured Home Equity Conversion Mortgages (HECMs), proprietary reverse mortgage products and reverse mortgage refinancing solutions. These products generally allow eligible homeowners to convert a portion of their home equity into funds while continuing to live in their homes, subject to applicable loan terms, taxes, insurance and maintenance requirements.