Key Points
- Jeremy Prahm, CIO of Finance of America Companies, sold 5,228 shares on April 6 at an average price of $17.83 for $93,215 total, leaving him with 238,196 shares (a 2.15% reduction); the sale was executed under a pre-arranged Rule 10b5-1 trading plan.
- FOA shares opened at $18.47 (up 4.9%), the company has a market cap of about $157.9M and a P/E of 9.47, and it reported Q earnings of EPS $0.69 (beat) but revenue of $73.51M (below estimates); analysts' consensus is a "Hold" with an average price target of $26.00.
- Institutional investors own roughly 97.20% of FOA, with notable activity including Beach Point Capital boosting its stake to 789,399 shares after adding 669,336 shares in the fourth quarter.
Finance of America Companies Inc. (NYSE:FOA - Get Free Report) CIO Jeremy Prahm sold 5,228 shares of Finance of America Companies stock in a transaction on Monday, April 6th. The shares were sold at an average price of $17.83, for a total transaction of $93,215.24. Following the completion of the transaction, the executive owned 238,196 shares in the company, valued at approximately $4,247,034.68. This trade represents a 2.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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, 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 transaction of $105,000.00.
Finance of America Companies Stock Up 4.9%
Shares of FOA opened at $18.47 on Thursday. The firm has a market cap of $157.89 million, a PE ratio of 9.47 and a beta of 1.70. The company's fifty day moving average is $19.29 and its two-hundred day moving average is $21.72. Finance of America Companies Inc. has a fifty-two week low of $15.77 and a fifty-two week high of $29.58. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 47.80.
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, beating analysts' consensus estimates of $0.65 by $0.04. The company had revenue of $73.51 million for the quarter, compared to analyst estimates of $109.45 million. Finance of America Companies had a net margin of 9.09% and a return on equity of 10.30%. Analysts forecast that Finance of America Companies Inc. will post 0.75 earnings per share for the current year.
Hedge Funds Weigh In On Finance of America Companies
Hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd lifted its holdings 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. Beach Point Capital Management LP lifted its holdings in Finance of America Companies by 557.5% in the 4th quarter. Beach Point Capital Management LP now owns 789,399 shares of the company's stock worth $19,111,000 after buying an additional 669,336 shares in the last quarter. Palisades Investment Partners LLC acquired a new position in Finance of America Companies in the 4th quarter worth $201,000. JPMorgan Chase & Co. lifted its holdings in Finance of America Companies by 1,815.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 40,194 shares of the company's stock worth $902,000 after buying an additional 38,096 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in Finance of America Companies in the 3rd quarter worth $553,000. Institutional investors and hedge funds own 97.20% of the company's stock.
Wall Street Analyst Weigh In
FOA has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Finance of America Companies to a "hold" rating in a report on Monday. B. Riley Financial started coverage on shares of Finance of America Companies in a report on Thursday, April 2nd. They issued a "buy" rating and a $22.50 price target on the stock. Wall Street Zen upgraded shares of Finance of America Companies from a "sell" rating to a "hold" rating in a report on Monday. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Finance of America Companies in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Finance of America Companies currently has a consensus rating of "Hold" and an average price target of $26.00.
Check Out Our Latest Research Report on FOA
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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