Key Points
- Finance of America CIO Jeremy Prahm sold 6,000 shares for $83,880 at an average price of $13.98 under a pre-arranged Rule 10b5-1 plan, reducing his stake by 3.57% to 161,856 shares.
- FOA shares opened at $15.13 and remain near their 52-week low of $13.73, well below the 50-day and 200-day moving averages near $20. The company also recently missed quarterly revenue and earnings expectations.
- Analyst sentiment is mixed, with a consensus “Hold” rating and a $30.50 target price; institutional investors own 97.2% of the stock.
Finance of America Companies Inc. (NYSE:FOA - Get Free Report) CIO Jeremy Prahm sold 6,000 shares of the business's stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $13.98, for a total value of $83,880.00. Following the completion of the sale, the executive owned 161,856 shares in the company, valued at $2,262,746.88. The trade was a 3.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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 Tuesday, September 8th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The shares were sold at an average price of $16.82, for a total transaction of $100,920.00.
- On Monday, August 24th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The stock was sold at an average price of $19.87, for a total transaction of $119,220.00.
- On Monday, August 10th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The stock was sold at an average price of $21.73, for a total transaction 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.
Finance of America Companies Price Performance
Shares of NYSE FOA opened at $15.13 on Wednesday. The stock has a market capitalization of $261.92 million, a price-to-earnings ratio of -5.03 and a beta of 1.65. The business has a 50-day moving average of $20.03 and a 200-day moving average of $20.25. The company has a debt-to-equity ratio of 60.78, a current ratio of 3.02 and a quick ratio of 3.02. Finance of America Companies Inc. has a fifty-two week low of $13.73 and a fifty-two week high of $29.79.
Finance of America Companies (NYSE:FOA - Get Free Report) last posted its quarterly earnings results 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 28.39%. The company had revenue of $62.48 million during the quarter, compared to the consensus estimate of $121.94 million. As a group, sell-side analysts predict that Finance of America Companies Inc. will post 4.16 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
FOA has been the subject of a number of recent analyst reports. B. Riley Financial reiterated a "buy" rating and issued a $32.00 price target (up from $25.00) on shares of Finance of America Companies in a research note on Wednesday, August 5th. Weiss Ratings cut shares of Finance of America Companies from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, August 11th. Zacks Research downgraded shares of Finance of America Companies from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 11th. 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. Finally, Wall Street Zen cut Finance of America Companies from a "hold" rating to a "sell" rating in a research report on Saturday, September 12th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $30.50.
Read Our Latest Research Report on Finance of America Companies
Institutional Investors Weigh In On Finance of America Companies
Several institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of Finance of America Companies during the 2nd quarter worth $240,000. First Trust Advisors LP lifted its position in shares of Finance of America Companies by 43.7% during the 1st quarter. First Trust Advisors LP now owns 17,210 shares of the company's stock worth $286,000 after buying an additional 5,236 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Finance of America Companies by 56.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 102,061 shares of the company's stock worth $1,694,000 after buying an additional 36,929 shares during the last quarter. Purpose Unlimited Inc. acquired a new stake in Finance of America Companies in the fourth quarter valued at about $2,325,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in Finance of America Companies by 160.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,304 shares of the company's stock worth $80,000 after acquiring an additional 2,035 shares in the last quarter. 97.20% of the stock is currently owned by institutional investors.
Finance of America Companies Company Profile
(
Get Free Report)
Finance of America Companies Inc (NYSE: FOA) is a financial services company focused on helping homeowners access and manage the value of their homes. The company's primary business is its retirement solutions platform, which provides home-equity products designed to support financial planning and cash-flow needs for older homeowners.
Finance of America's offerings include reverse mortgage products, including federally insured Home Equity Conversion Mortgages, as well as proprietary reverse mortgage solutions.
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