Key Points
- Insider sale: CIO Jeremy Prahm sold 5,610 FOA shares at an average price of $10.74, totaling $60,251.40. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, leaving him with 150,246 shares.
- Repeated selling and weak trading: Prahm has sold shares in several transactions since August, while FOA opened at $10.87—near its 12-month low of $10.63 and well below its 12-month high of $29.79.
- Mixed outlook: The company missed quarterly earnings and revenue estimates, and analyst opinions remain divided, resulting in a consensus “Hold” rating and a $30.50 average price target.
Finance of America Companies Inc. (NYSE:FOA - Get Free Report) CIO Jeremy Prahm sold 5,610 shares of the stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $10.74, for a total transaction of $60,251.40. Following the completion of the transaction, the executive directly owned 150,246 shares of the company's stock, valued at $1,613,642.04. The trade was a 3.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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, October 5th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The stock was sold at an average price of $13.20, for a total transaction of $79,200.00.
- On Monday, September 21st, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The stock was 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 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 shares were 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 stock was sold at an average price of $22.26, for a total transaction of $133,560.00.
Finance of America Companies Trading Down 3.3%
NYSE FOA opened at $10.87 on Thursday. Finance of America Companies Inc. has a 12-month low of $10.63 and a 12-month high of $29.79. The company has a fifty day simple moving average of $15.57 and a two-hundred day simple moving average of $19.58. 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 stock has a market cap of $188.16 million, a P/E ratio of -3.61 and a beta of 1.68.
Finance of America Companies (NYSE:FOA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.84 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.20). The company had revenue of $62.48 million for the quarter, compared to analyst estimates 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%. On average, analysts forecast that Finance of America Companies Inc. will post 3.87 earnings per share for the current year.
Hedge Funds Weigh In On Finance of America Companies
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FOA. Public Employees Retirement System of Ohio acquired a new stake in shares of Finance of America Companies in the second quarter valued at about $240,000. First Trust Advisors LP increased its stake in shares of Finance of America Companies by 43.7% during the first quarter. First Trust Advisors LP now owns 17,210 shares of the company's stock worth $286,000 after purchasing an additional 5,236 shares in the last quarter. Dimensional Fund Advisors LP raised 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 purchasing an additional 36,929 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Finance of America Companies by 160.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,304 shares of the company's stock worth $80,000 after purchasing an additional 2,035 shares during the last quarter. 97.20% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the company. Weiss Ratings lowered Finance of America Companies from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded Finance of America Companies from a "sell" rating to a "hold" rating in a research note on Saturday, October 3rd. 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 objective on the stock. B. Riley Financial reissued a "buy" rating and issued a $32.00 price objective (up from $25.00) on shares of Finance of America Companies in a report on Wednesday, August 5th. Finally, Zacks Research cut Finance of America Companies from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $30.50.
Check Out Our Latest Research Report on Finance of America Companies
About Finance of America Companies
(
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
