Key Points
- CIO Jeremy Prahm sold 6,000 FOA shares at an average price of $19.87, generating $119,220; the transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced his holdings by 3.34% to 173,856 shares.
- FOA shares opened at $18.86 after falling 4.1%, while the company’s latest quarterly results missed analyst expectations, reporting $0.84 in EPS versus a $1.04 consensus and revenue of $62.48 million versus $121.94 million expected.
- Analyst views remain mixed, with a consensus rating of Hold and an average price target of $30.50; institutional investors own 97.2% of the company’s stock.
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 that occurred on Monday, August 24th. The stock was sold at an average price of $19.87, for a total value of $119,220.00. Following the transaction, the executive owned 173,856 shares of the company's stock, valued at $3,454,518.72. This represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 shares were sold at an average price of $21.73, for a total value of $130,380.00.
- 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 value 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 value of $181,541.40.
Finance of America Companies Trading Down 4.1%
Shares of FOA stock opened at $18.86 on Thursday. The company has a market capitalization of $326.47 million, a price-to-earnings ratio of -6.27 and a beta of 1.65. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 60.78. The firm has a 50-day moving average price of $23.27 and a 200 day moving average price of $20.87. Finance of America Companies Inc. has a twelve month low of $15.77 and a twelve month high of $29.79.
Finance of America Companies (NYSE:FOA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.84 EPS for the quarter, missing analysts' consensus estimates of $1.04 by ($0.20). The firm had revenue of $62.48 million for the quarter, compared to analysts' expectations of $121.94 million. Finance of America Companies had a positive return on equity of 28.39% and a negative net margin of 0.10%. Research analysts forecast that Finance of America Companies Inc. will post 4.16 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of FOA. Caitong International Asset Management Co. Ltd grew its stake in Finance of America Companies by 183.9% during the third 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 period. California State Teachers Retirement System lifted its holdings in shares of Finance of America Companies by 440.4% during the 2nd quarter. California State Teachers Retirement System now owns 1,486 shares of the company's stock valued at $41,000 after acquiring an additional 1,211 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Finance of America Companies during the 3rd quarter worth $29,000. Charles Schwab Investment Management Inc. increased its holdings in Finance of America Companies by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,241 shares of the company's stock valued at $442,000 after purchasing an additional 1,397 shares in the last quarter. Finally, Barclays PLC increased its holdings in Finance of America Companies by 23.9% in the 4th quarter. Barclays PLC now owns 7,907 shares of the company's stock valued at $191,000 after purchasing an additional 1,525 shares in the last quarter. 97.20% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on FOA. Weiss Ratings downgraded Finance of America Companies from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, August 11th. Wall Street Zen raised Finance of America Companies from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Alliance Global Partners started coverage on Finance of America Companies in a report on Wednesday, July 22nd. They issued a "buy" rating and a $30.00 price target for the company. Zacks Research lowered shares of Finance of America Companies from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 11th. Finally, B. Riley Financial reaffirmed 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. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Finance of America Companies has a consensus rating of "Hold" and an average target price of $30.50.
Get Our Latest Stock Analysis on Finance of America Companies
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.
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