Key Points
- Finance of America CIO Jeremy Prahm sold 6,000 shares at an average price of $22.26, generating $133,560. The Rule 10b5-1 transaction reduced his direct ownership by 3.13% to 185,856 shares.
- FOA reported quarterly EPS of $0.84, below the $1.04 consensus estimate, while revenue of $62.48 million was well short of the $121.94 million forecast.
- Analyst sentiment is mixed, with a consensus “Hold” rating and an average $30.50 price target. The stock opened at $21.91 and is currently 97.2% owned by institutional investors.
Finance of America Companies Inc. (NYSE:FOA - Get Free Report) CIO Jeremy Prahm sold 6,000 shares of Finance of America Companies stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $22.26, for a total transaction of $133,560.00. Following the completion of the transaction, the executive directly owned 185,856 shares in the company, valued at approximately $4,137,154.56. The trade was a 3.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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, 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 transaction 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 transaction of $118,080.00.
Finance of America Companies Price Performance
Shares of Finance of America Companies stock opened at $21.91 on Tuesday. The company's fifty day simple moving average is $23.00 and its two-hundred day simple moving average is $21.07. Finance of America Companies Inc. has a 12-month low of $15.77 and a 12-month high of $29.79. The firm has a market cap of $194.79 million, a PE ratio of -7.28 and a beta of 1.66. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 43.57.
Finance of America Companies (NYSE:FOA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.20). The firm had revenue of $62.48 million for the quarter, compared to the consensus estimate of $121.94 million. Finance of America Companies had a negative net margin of 0.10% and a positive return on equity of 28.51%. As a group, equities analysts expect that Finance of America Companies Inc. will post 4.44 EPS for the current year.
Wall Street Analyst Weigh In
FOA has been the subject of several research analyst reports. Alliance Global Partners assumed coverage on Finance of America Companies in a report on Wednesday, July 22nd. They issued a "buy" rating and a $30.00 price objective for the company. B. Riley Financial restated a "buy" rating and set a $32.00 target price (up from $25.00) on shares of Finance of America Companies in a report on Wednesday, August 5th. Weiss Ratings raised Finance of America Companies from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, June 12th. Finally, Wall Street Zen cut shares of Finance of America Companies from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $30.50.
Check Out Our Latest Report on FOA
Hedge Funds Weigh In On Finance of America Companies
Large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd grew its stake in shares of Finance of America Companies by 183.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company's stock worth $28,000 after buying an additional 822 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Finance of America Companies in the third quarter worth $29,000. JPMorgan Chase & Co. increased its holdings in shares of Finance of America Companies by 4,270.8% during the second quarter. JPMorgan Chase & Co. now owns 2,098 shares of the company's stock valued at $49,000 after acquiring an additional 2,050 shares in the last quarter. Bank of America Corp DE boosted its stake in Finance of America Companies by 3,503.1% in the 4th quarter. Bank of America Corp DE now owns 2,306 shares of the company's stock worth $65,000 after purchasing an additional 2,242 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Finance of America Companies during the 2nd quarter valued at about $57,000. 97.20% of the stock is currently owned by hedge funds and other institutional investors.
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
