Key Points
- FOA CIO Jeremy Prahm sold 6,000 shares at an average price of $21.73, totaling $130,380, under a pre-arranged Rule 10b5-1 plan. His remaining stake was 179,856 shares, and he has made several additional sales since May.
- Finance of America Companies reported quarterly EPS of $0.84, below the $1.04 analyst estimate, while revenue of $62.48 million fell well short of the $121.94 million consensus.
- FOA shares opened at $22.30, with analysts divided between buy and sell ratings; the stock carries an overall “Hold” consensus and a $30.50 average price target. Institutional investors own 97.2% of outstanding shares.
Finance of America Companies Inc. (NYSE:FOA - Get Free Report) CIO Jeremy Prahm sold 6,000 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $21.73, for a total value of $130,380.00. Following the completion of the transaction, the executive owned 179,856 shares in the company, valued at approximately $3,908,270.88. The trade was a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 Thursday, August 6th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The stock was sold at an average price of $22.26, for a total transaction of $133,560.00.
- 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 transaction of $181,541.40.
- On Monday, May 18th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The stock was sold at an average price of $19.68, for a total value of $118,080.00.
Finance of America Companies Stock Up 3.5%
Finance of America Companies stock opened at $22.30 on Thursday. The stock has a 50-day simple moving average of $23.11 and a 200-day simple moving average of $21.04. The company has a market capitalization of $198.25 million, a P/E ratio of -7.41 and a beta of 1.65. The company has a debt-to-equity ratio of 43.57, a quick ratio of 2.62 and a current ratio of 2.62. Finance of America Companies Inc. has a fifty-two week low of $15.77 and a fifty-two week high of $29.79.
Finance of America Companies (NYSE:FOA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.84 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $121.94 million. Equities research analysts expect that Finance of America Companies Inc. will post 4.16 earnings per share for the current year.
Institutional Investors Weigh In On Finance of America Companies
Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in Finance of America Companies by 3,503.1% during the 4th quarter. Bank of America Corp DE now owns 2,306 shares of the company's stock valued at $65,000 after acquiring an additional 2,242 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Finance of America Companies by 66.2% in the second quarter. Geode Capital Management LLC now owns 136,672 shares of the company's stock valued at $3,188,000 after purchasing an additional 54,429 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Finance of America Companies by 4,270.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,098 shares of the company's stock worth $49,000 after purchasing an additional 2,050 shares in the last quarter. American Century Companies Inc. raised its position in shares of Finance of America Companies by 3.1% during the 2nd quarter. American Century Companies Inc. now owns 88,554 shares of the company's stock worth $2,065,000 after purchasing an additional 2,636 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new position in shares of Finance of America Companies during the 2nd quarter worth approximately $103,000. 97.20% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on FOA shares. Weiss Ratings cut Finance of America Companies from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday. B. Riley Financial reaffirmed a "buy" rating and issued a $32.00 target price (up from $25.00) on shares of Finance of America Companies in a report on Wednesday, August 5th. Zacks Research cut shares of Finance of America Companies from a "hold" rating to a "strong sell" rating in a report on Tuesday. Alliance Global Partners started coverage on Finance of America Companies in a research report on Wednesday, July 22nd. They set a "buy" rating and a $30.00 target price on the stock. Finally, Wall Street Zen downgraded Finance of America Companies from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Finance of America Companies currently has an average rating of "Hold" and a consensus price target of $30.50.
Get Our Latest Research Report on FOA
About Finance of America Companies
(
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.
Further Reading
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