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 stock in a transaction on Monday, May 18th. The stock was sold at an average price of $19.68, for a total value of $118,080.00. Following the sale, the executive directly owned 220,968 shares of the company’s stock, valued at approximately $4,348,650.24. This represents a 2.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jeremy Prahm also recently made the following trade(s):

• On Thursday, May 7th, Jeremy Prahm sold 5,228 shares of Finance of America Companies stock. The shares were sold at an average price of $21.39, for a total transaction of $111,826.92.
• On Monday, April 20th, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The shares were sold at an average price of $23.01, for a total transaction of $138,060.00.
• On Monday, April 6th, Jeremy Prahm sold 5,228 shares of Finance of America Companies stock. The shares were sold at an average price of $17.83, for a total transaction of $93,215.24.
• On Monday, March 23rd, Jeremy Prahm sold 6,000 shares of Finance of America Companies stock. The shares were sold at an average price of $17.50, for a total transaction of $105,000.00.

Finance of America Companies Price Performance

Shares of NYSE:FOA opened at $18.61 on Thursday. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 43.57. The company has a market cap of $159.16 million, a P/E ratio of 46.53 and a beta of 1.69. Finance of America Companies Inc. has a 52 week low of $15.77 and a 52 week high of $29.58. The company has a 50-day moving average price of $19.13 and a 200 day moving average price of $21.35.

Finance of America Companies (NYSE:FOA) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.26. The firm had revenue of $120.14 million during the quarter, compared to the consensus estimate of $115.31 million. Finance of America Companies had a net margin of 7.20% and a return on equity of 22.24%. Research analysts predict that Finance of America Companies Inc. will post 4.59 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd increased its holdings in Finance of America Companies by 183.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,269 shares of the company’s stock valued at $28,000 after buying an additional 822 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Finance of America Companies in the third quarter valued at $29,000. JPMorgan Chase & Co. increased its position in shares of Finance of America Companies by 4,270.8% in the second quarter. JPMorgan Chase & Co. now owns 2,098 shares of the company’s stock valued at $49,000 after buying an additional 2,050 shares in the last quarter. Bank of America Corp DE increased its position in shares of Finance of America Companies by 3,503.1% in the fourth quarter. Bank of America Corp DE now owns 2,306 shares of the company’s stock valued at $65,000 after buying an additional 2,242 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Finance of America Companies in the second quarter valued at $57,000. 97.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FOA shares. Weiss Ratings downgraded Finance of America Companies from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, May 12th. B. Riley Financial initiated coverage on shares of Finance of America Companies in a research note on Thursday, April 2nd. They issued a “buy” rating and a $22.50 price objective for the company. Zacks Research upgraded shares of Finance of America Companies to a “hold” rating in a research note on Monday, April 6th. Finally, Wall Street Zen upgraded shares of Finance of America Companies from a “sell” rating to a “hold” rating in a research note on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $26.00.

Finance of America Companies Company Profile

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.