Insider Selling: Finance of America Companies Inc. (NYSE:FOA) Director Sells 23,245 Shares of Stock

Finance of America Companies Inc. (NYSE:FOA) Director Lance West sold 23,245 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $22.10, for a total transaction of $513,714.50. Following the sale, the director now directly owns 12,280 shares in the company, valued at $271,388. This trade represents a 65.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Lance West also recently made the following trade(s):

• On Friday, December 6th, Lance West sold 6,750 shares of Finance of America Companies stock. The shares were sold at an average price of $21.00, for a total value of $141,750.00.
• On Wednesday, December 4th, Lance West sold 13,637 shares of Finance of America Companies stock. The shares were sold at an average price of $20.71, for a total value of $282,422.27.

Finance of America Companies Stock Performance

Shares of FOA traded up $2.34 during midday trading on Wednesday, reaching $24.34. The stock had a trading volume of 175,932 shares, compared to its average volume of 33,495. The firm has a market cap of $241.60 million, a PE ratio of 2.07 and a beta of 1.22. The firm has a 50 day simple moving average of $15.61 and a 200-day simple moving average of $10.29. Finance of America Companies Inc. has a one year low of $4.10 and a one year high of $27.89. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 40.07.

Finance of America Companies (NYSE:FOA) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.54. The business had revenue of $290.07 million during the quarter, compared to analysts’ expectations of $72.00 million. Finance of America Companies had a negative return on equity of 4.00% and a net margin of 18.89%. During the same quarter last year, the company posted ($1.40) earnings per share. As a group, sell-side analysts anticipate that Finance of America Companies Inc. will post 0.11 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, UBS Group cut Finance of America Companies from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $14.00 to $24.00 in a research note on Wednesday, November 20th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FOA. AQR Capital Management LLC acquired a new stake in Finance of America Companies during the 2nd quarter valued at $41,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Finance of America Companies in the second quarter valued at about $43,000. Finally, Renaissance Technologies LLC raised its position in shares of Finance of America Companies by 2.7% in the second quarter. Renaissance Technologies LLC now owns 112,500 shares of the company’s stock valued at $55,000 after purchasing an additional 3,000 shares during the period. 97.20% of the stock is currently owned by institutional investors.

About Finance of America Companies

Finance of America Companies Inc a financial service holding company, through its subsidiaries, engages in the operation of a retirement solutions platform in the United States. It operates through two segments: Retirement Solutions and Portfolio Management. The Retirement Solutions segment engages in the loan origination activities comprising home equity conversion, proprietary reverse, and hybrid mortgage loans for senior homeowners.