Finance of America Companies (NYSE:FOA) Stock: Insider Jeremy Prahm Sells 5,610 Shares

Finance of America Companies Inc. (NYSE:FOA) CIO Jeremy Prahm sold 5,610 shares of the stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $10.74, for a total transaction of $60,251.40. Following the sale, the executive directly owned 150,246 shares in the company, valued at approximately $1,613,642.04. This represents a 3.60% decrease in their position. The sale was disclosed in a legal filing 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, October 5th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The shares were 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 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 Finance of America Companies stock traded down $0.37 during midday trading on Wednesday, reaching $10.87. The company had a trading volume of 70,072 shares, compared to its average volume of 74,289. 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 company has a market capitalization of $188.16 million, a price-to-earnings ratio of -3.61 and a beta of 1.68. The stock has a fifty day simple moving average of $15.80 and a 200 day simple moving average of $19.63. Finance of America Companies Inc. has a 1-year low of $10.63 and a 1-year high of $29.79.

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 the consensus estimate 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 analyst estimates of $121.94 million. As a group, equities research analysts forecast that Finance of America Companies Inc. will post 3.87 earnings per share for the current year.

Institutional Investors Weigh In On Finance of America Companies

Several institutional investors and hedge funds have recently made changes to their positions in FOA. Dimensional Fund Advisors LP boosted 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 valued at $1,694,000 after purchasing an additional 36,929 shares in the last quarter. First Trust Advisors LP increased its holdings in Finance of America Companies by 43.7% in 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. Public Employees Retirement System of Ohio bought a new stake in Finance of America Companies in the second quarter worth approximately $240,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Finance of America Companies by 160.4% in the fourth 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 in the last quarter. Institutional investors own 97.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on FOA shares. 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. 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. B. Riley Financial reaffirmed 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. Wall Street Zen raised Finance of America Companies from a “sell” rating to a “hold” rating in a report on Saturday, October 3rd. Finally, Weiss Ratings lowered shares of Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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 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.