Key Points
- CIO Jeremy Prahm sold 6,000 FOA shares on March 23 at an average of $17.50 for $105,000, trimming his stake by 3.46% to 167,294 shares (≈$2.93M).
- The company reported Q4 EPS of $0.69 (beats $0.65 estimate) but revenue of $73.51M missed the $109.45M consensus, and the stock opened at $16.91 (down ~1.8%).
- Institutional investors own ~97.2% of FOA, with recent large buys by Beach Point and Two Sigma, while analysts hold a consensus "Reduce" rating with an average $29.50 price target.
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 Monday, March 23rd. The shares were sold at an average price of $17.50, for a total value of $105,000.00. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Finance of America Companies Stock Down 1.8%
Shares of FOA opened at $16.91 on Thursday. 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 stock has a market capitalization of $144.61 million, a price-to-earnings ratio of 8.67 and a beta of 1.65. Finance of America Companies Inc. has a 1 year low of $16.09 and a 1 year high of $29.58. The business's 50 day simple moving average is $20.63 and its 200-day simple moving average is $22.30.
Finance of America Companies (NYSE:FOA - Get Free Report) last announced its quarterly earnings results on Tuesday, March 10th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. The company had revenue of $73.51 million for the quarter, compared to analysts' expectations of $109.45 million. Finance of America Companies had a net margin of 9.09% and a return on equity of 10.30%. As a group, equities analysts expect that Finance of America Companies Inc. will post 0.75 earnings per share for the current fiscal year.
Institutional Trading of Finance of America Companies
Several institutional investors have recently added to or reduced their stakes in FOA. Beach Point Capital Management LP boosted its position in shares of Finance of America Companies by 557.5% during the fourth quarter. Beach Point Capital Management LP now owns 789,399 shares of the company's stock valued at $19,111,000 after buying an additional 669,336 shares during the period. Invesco Ltd. bought a new position in shares of Finance of America Companies during the third quarter valued at approximately $3,147,000. Purpose Unlimited Inc. purchased a new stake in shares of Finance of America Companies in the fourth quarter worth approximately $2,325,000. Russell Investments Group Ltd. raised its holdings in shares of Finance of America Companies by 5,866.5% in the fourth quarter. Russell Investments Group Ltd. now owns 77,445 shares of the company's stock worth $1,875,000 after buying an additional 76,147 shares during the period. Finally, Two Sigma Investments LP lifted its stake in shares of Finance of America Companies by 239.3% during the 3rd quarter. Two Sigma Investments LP now owns 88,888 shares of the company's stock worth $1,994,000 after acquiring an additional 62,687 shares during the last quarter. Institutional investors own 97.20% of the company's stock.
Analyst Ratings Changes
FOA has been the subject of a number of analyst reports. UBS Group set a $29.50 price target on shares of Finance of America Companies and gave the company a "neutral" rating in a report on Wednesday, November 26th. Weiss Ratings reiterated a "sell (d)" rating on shares of Finance of America Companies in a report on Monday, December 29th. Finally, Wall Street Zen raised Finance of America Companies from a "sell" rating to a "hold" rating in a research report on Saturday, March 21st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average price target of $29.50.
Read Our Latest Research Report on Finance of America Companies
Finance of America Companies Company Profile
(
Get Free Report)
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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