Key Points
- FOA CIO Jeremy Prahm sold 6,000 shares at an average price of $16.82, generating $100,920. The Rule 10b5-1 transaction reduced his direct ownership by 3.45% to 167,856 shares.
- Finance of America Companies shares opened at $15.67, near their 52-week low of $15.55 and down substantially from the 52-week high of $29.79. The company’s latest quarterly results missed analyst expectations, reporting $0.84 in EPS versus $1.04 expected and revenue of $62.48 million versus $121.94 million expected.
- Analyst sentiment is mixed, with a consensus “Hold” rating and a $30.50 target price. Institutional investors own 97.2% of FOA, while recent ratings ranged from “Buy” with targets up to $32 to “Strong Sell.”
Finance of America Companies Inc. (NYSE:FOA - Get Free Report) CIO Jeremy Prahm sold 6,000 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $16.82, for a total value of $100,920.00. Following the sale, the executive directly owned 167,856 shares in the company, valued at approximately $2,823,337.92. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through 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 24th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The shares were sold at an average price of $19.87, for a total value of $119,220.00.
- 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 shares were 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.
Finance of America Companies Stock Down 1.8%
Shares of NYSE:FOA opened at $15.67 on Friday. Finance of America Companies Inc. has a 52-week low of $15.55 and a 52-week high of $29.79. The firm has a market cap of $271.23 million, a P/E ratio of -5.21 and a beta of 1.65. The business's 50 day simple moving average is $21.86 and its two-hundred day simple moving average is $20.50. The company has a debt-to-equity ratio of 60.78, a quick ratio of 3.02 and a current ratio of 3.02.
Finance of America Companies (NYSE:FOA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.20). Finance of America Companies had a positive return on equity of 28.39% and a negative net margin of 0.10%.The firm had revenue of $62.48 million for the quarter, compared to analysts' expectations of $121.94 million. As a group, research analysts forecast that Finance of America Companies Inc. will post 4.16 EPS for the current fiscal year.
Hedge Funds Weigh In On Finance of America Companies
A number of hedge funds and other institutional investors have recently bought and sold shares of FOA. Bank of America Corp DE increased its holdings in shares of 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 buying an additional 2,242 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Finance of America Companies by 66.2% during the 2nd quarter. Geode Capital Management LLC now owns 136,672 shares of the company's stock worth $3,188,000 after acquiring an additional 54,429 shares during the last quarter. JPMorgan Chase & Co. grew its position in Finance of America Companies by 4,270.8% in the second quarter. JPMorgan Chase & Co. now owns 2,098 shares of the company's stock worth $49,000 after acquiring an additional 2,050 shares in the last quarter. American Century Companies Inc. increased its stake in Finance of America Companies by 3.1% in the second quarter. American Century Companies Inc. now owns 88,554 shares of the company's stock valued at $2,065,000 after acquiring an additional 2,636 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new stake in Finance of America Companies in the 2nd quarter worth approximately $103,000. Hedge funds and other institutional investors own 97.20% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on FOA shares. B. Riley Financial reiterated a "buy" rating and issued a $32.00 target price (up from $25.00) on shares of Finance of America Companies in a research note 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, August 11th. Weiss Ratings lowered Finance of America Companies from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 11th. Wall Street Zen raised Finance of America Companies from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Finally, Alliance Global Partners assumed coverage on Finance of America Companies in a research report on Wednesday, July 22nd. They set a "buy" rating and a $30.00 price target on the stock. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $30.50.
View Our Latest Stock Analysis 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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