Key Points
- Finance of America CIO Jeremy Prahm sold 6,000 shares at an average price of $13.20, totaling $79,200. The Rule 10b5-1 transaction reduced his direct holdings by 3.71% to 155,856 shares.
- Prahm has made a series of 6,000-share sales since August, with the sale price declining from $22.26 to $13.20, indicating continued insider selling as FOA’s stock weakened.
- FOA shares opened at $13.05, near their 52-week low of $12.15, while the company’s latest quarterly results missed expectations on both earnings and revenue. Analysts maintain a consensus “Hold” rating with a $30.50 price target.
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 on Monday, October 5th. The stock was sold at an average price of $13.20, for a total value of $79,200.00. Following the completion of the transaction, the executive directly owned 155,856 shares in the company, valued at approximately $2,057,299.20. This represents a 3.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Jeremy Prahm also recently made the following trade(s):
- On Monday, September 21st, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The shares were sold at an average price of $13.98, for a total transaction of $83,880.00.
- On Tuesday, September 8th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The stock was sold at an average price of $16.82, for a total value 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 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 transaction of $133,560.00.
Finance of America Companies Stock Performance
FOA stock opened at $13.05 on Thursday. Finance of America Companies Inc. has a 1-year low of $12.15 and a 1-year high of $29.79. The business's 50-day moving average price is $17.76 and its two-hundred day moving average price is $19.95. The firm has a market cap of $225.98 million, a PE ratio of -4.34 and a beta of 1.68. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 60.78.
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 the consensus estimate of $121.94 million. As a group, research analysts forecast that Finance of America Companies Inc. will post 3.87 earnings per share for the current year.
Institutional Trading of Finance of America Companies
Several large investors have recently bought and sold shares of FOA. Public Employees Retirement System of Ohio bought a new position in Finance of America Companies in the second quarter valued at about $240,000. First Trust Advisors LP grew its holdings 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 valued at $286,000 after purchasing an additional 5,236 shares during the last quarter. Dimensional Fund Advisors LP increased its position in 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 purchasing an additional 36,929 shares in the last quarter. Purpose Unlimited Inc. bought a new position in Finance of America Companies in the 4th quarter valued at approximately $2,325,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Finance of America Companies by 160.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,304 shares of the company's stock valued at $80,000 after purchasing an additional 2,035 shares during the last quarter. 97.20% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have commented on FOA shares. Wall Street Zen raised Finance of America Companies from a "sell" rating to a "hold" rating in a report on Saturday, October 3rd. B. Riley Financial reaffirmed a "buy" rating and set a $32.00 price objective (up from $25.00) on shares of Finance of America Companies in a research report on Wednesday, August 5th. Weiss Ratings downgraded shares of Finance of America Companies from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, August 11th. Alliance Global Partners initiated coverage on shares of Finance of America Companies in a report on Wednesday, July 22nd. They issued a "buy" rating and a $30.00 target price on the stock. Finally, Zacks Research downgraded shares of Finance of America Companies from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $30.50.
Read Our Latest Report on FOA
Finance of America Companies Company Profile
(
Get Free Report)
Finance of America Companies, Inc (NYSE: FOA) is a financial services company focused on helping older homeowners use their home equity as part of a broader retirement strategy. Through its subsidiaries, the company provides reverse mortgage products and related solutions designed to help homeowners access cash, supplement retirement income, manage expenses or remain in their homes.
The company's reverse mortgage business, Finance of America Reverse, offers federally insured Home Equity Conversion Mortgages as well as proprietary reverse mortgage products, including HomeSafe.
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