Insider Selling: Finance of America Companies (NYSE:FOA) CIO Sells $133,560.00 in Stock

Finance of America Companies Inc. (NYSE:FOA) CIO Jeremy Prahm sold 6,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $22.26, for a total value of $133,560.00. Following the transaction, the executive directly owned 185,856 shares of the company’s stock, valued at $4,137,154.56. The trade was a 3.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 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 value of $130,380.00.
• On Monday, June 15th, Jeremy Prahm sold 8,860 shares of Finance of America Companies stock. The shares were sold at an average price of $20.49, for a total value of $181,541.40.
• On Monday, May 18th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The shares were sold at an average price of $19.68, for a total value of $118,080.00.

Finance of America Companies Trading Up 3.5%

Finance of America Companies stock opened at $22.30 on Thursday. The stock has a market cap of $198.25 million, a PE ratio of -7.41 and a beta of 1.65. The stock has a 50-day moving average price of $23.11 and a 200 day moving average price of $21.04. Finance of America Companies Inc. has a 52 week low of $15.77 and a 52 week high of $29.79. The company has a current ratio of 2.62, a quick ratio of 2.62 and a debt-to-equity ratio of 43.57.

Finance of America Companies (NYSE:FOA) last announced its earnings results on Tuesday, August 4th. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate 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 28.51%. The firm had revenue of $62.48 million during the quarter, compared to analyst estimates of $121.94 million. Equities research analysts predict that Finance of America Companies Inc. will post 4.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FOA shares. 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. Wall Street Zen downgraded Finance of America Companies from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. B. Riley Financial reissued a “buy” rating and set a $32.00 price target (up from $25.00) on shares of Finance of America Companies in a research note on Wednesday, August 5th. Finally, Alliance Global Partners assumed coverage on Finance of America Companies in a report on Wednesday, July 22nd. They set a “buy” rating and a $30.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new position in shares of Finance of America Companies in the 1st quarter worth about $90,000. First Trust Advisors LP lifted 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 purchasing an additional 5,236 shares in the last quarter. Dimensional Fund Advisors LP grew 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 purchasing an additional 36,929 shares during the period. Purpose Unlimited Inc. purchased a new stake in shares of Finance of America Companies during the 4th quarter worth about $2,325,000. Finally, Caitong International Asset Management Co. Ltd increased its position in 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 worth $80,000 after purchasing an additional 2,035 shares in 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 (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.