Jeremy Prahm Sells 6,000 Shares of Finance of America Companies (NYSE:FOA) Stock

Finance of America Companies Inc. (NYSE:FOA) CIO Jeremy Prahm sold 6,000 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $19.87, for a total value of $119,220.00. Following the completion of the sale, the executive directly owned 173,856 shares of the company’s stock, valued at $3,454,518.72. The trade was a 3.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, 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 stock was sold at an average price of $20.49, for a total value of $181,541.40.

Finance of America Companies Stock Down 2.7%

NYSE FOA opened at $18.37 on Friday. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 60.78. Finance of America Companies Inc. has a fifty-two week low of $15.77 and a fifty-two week high of $29.79. The business has a 50 day moving average price of $23.23 and a two-hundred day moving average price of $20.84. The stock has a market cap of $318.04 million, a PE ratio of -6.10 and a beta of 1.65.

Finance of America Companies (NYSE:FOA) 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 negative net margin of 0.10% and a positive return on equity of 28.39%. The firm had revenue of $62.48 million for the quarter, compared to analysts’ expectations of $121.94 million. As a group, sell-side analysts predict that Finance of America Companies Inc. will post 4.16 EPS for the current fiscal year.

Institutional Trading of Finance of America Companies

Institutional investors have recently added to or reduced their stakes in the stock. Beach Point Capital Management LP grew its holdings in Finance of America Companies by 557.5% during the 4th quarter. Beach Point Capital Management LP now owns 789,399 shares of the company’s stock worth $19,111,000 after acquiring an additional 669,336 shares in the last quarter. Purpose Unlimited Inc. bought a new stake in shares of Finance of America Companies in the 4th quarter worth about $2,325,000. Dimensional Fund Advisors LP raised its stake in shares of Finance of America Companies by 56.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 102,061 shares of the company’s stock valued at $1,694,000 after purchasing an additional 36,929 shares in the last quarter. State of Wisconsin Investment Board raised its stake in shares of Finance of America Companies by 122.5% in the 4th quarter. State of Wisconsin Investment Board now owns 28,550 shares of the company’s stock valued at $691,000 after purchasing an additional 15,719 shares in the last quarter. Finally, HRT Financial LP lifted its position in shares of Finance of America Companies by 115.3% during the fourth quarter. HRT Financial LP now owns 26,612 shares of the company’s stock worth $644,000 after purchasing an additional 14,252 shares during the last quarter. 97.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on FOA shares. Weiss Ratings lowered shares of Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. B. Riley Financial reaffirmed a “buy” rating and set a $32.00 target price (up from $25.00) on shares of Finance of America Companies in a research report on Wednesday, August 5th. Alliance Global Partners started coverage on Finance of America Companies in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $30.00 price target on the stock. Wall Street Zen upgraded Finance of America Companies from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Zacks Research downgraded Finance of America Companies from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Two 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.50.

About Finance of America Companies

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.