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

Finance of America Companies Inc. (NYSE:FOA) CIO Jeremy Prahm sold 6,000 shares of the stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $13.98, for a total transaction of $83,880.00. Following the transaction, the executive owned 161,856 shares in the company, valued at approximately $2,262,746.88. The trade was a 3.57% decrease in their ownership of the stock. 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 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 stock was sold at an average price of $22.26, for a total transaction of $133,560.00.

Finance of America Companies Trading Up 3.6%

Shares of FOA traded up $0.53 during mid-day trading on Tuesday, reaching $15.13. The company had a trading volume of 60,811 shares, compared to its average volume of 74,338. Finance of America Companies Inc. has a fifty-two week low of $13.73 and a fifty-two week high of $29.79. The firm has a fifty day simple moving average of $20.25 and a 200-day simple moving average of $20.28. The stock has a market cap of $261.92 million, a price-to-earnings ratio of -5.03 and a beta of 1.65. 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) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). The firm 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, sell-side analysts anticipate that Finance of America Companies Inc. will post 4.16 EPS for the current fiscal year.

Institutional Trading of Finance of America Companies

Several large investors have recently bought and sold shares of the company. Beach Point Capital Management LP lifted its position in shares of Finance of America Companies by 557.5% during the fourth quarter. Beach Point Capital Management LP now owns 789,399 shares of the company’s stock worth $19,111,000 after purchasing an additional 669,336 shares in the last quarter. Purpose Unlimited Inc. purchased a new position in shares of Finance of America Companies in the fourth quarter valued at $2,325,000. Dimensional Fund Advisors LP grew its holdings 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 valued at $1,694,000 after purchasing an additional 36,929 shares in the last quarter. First Trust Advisors LP grew its holdings in 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 in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Finance of America Companies during the 2nd quarter worth $240,000. Institutional investors and hedge funds own 97.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on FOA shares. Wall Street Zen downgraded Finance of America Companies from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. Zacks Research downgraded shares of Finance of America Companies from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. 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. Alliance Global Partners assumed coverage on shares of 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, B. Riley Financial reiterated a “buy” rating and set a $32.00 price objective (up from $25.00) on shares of Finance of America Companies in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $30.50.

About Finance of America Companies

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.