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 Finance of America Companies stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $22.10, for a total value of $513,714.50. Following the sale, the director now directly owns 12,280 shares of the company’s stock, valued at approximately $271,388. This represents a 65.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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 stock was 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 stock was sold at an average price of $20.71, for a total transaction of $282,422.27.

Finance of America Companies Stock Performance

NYSE FOA opened at $24.26 on Friday. The firm has a market capitalization of $240.80 million, a P/E ratio of 2.07 and a beta of 1.22. The stock has a 50-day simple moving average of $16.49 and a two-hundred day simple moving average of $10.62. The company has a debt-to-equity ratio of 40.07, a quick ratio of 2.80 and a current ratio of 2.80. Finance of America Companies Inc. has a fifty-two week low of $4.10 and a fifty-two week high of $27.89.

Finance of America Companies (NYSE:FOA) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.54. The company had revenue of $290.07 million during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted ($1.40) earnings per share. On average, equities analysts forecast that Finance of America Companies Inc. will post 0.75 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Finance of America Companies

A number of hedge funds have recently added to or reduced their stakes in FOA. 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 worth $55,000 after acquiring an additional 3,000 shares during the period. AQR Capital Management LLC acquired a new stake in shares of Finance of America Companies during the 2nd quarter valued at about $41,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Finance of America Companies in the 2nd quarter valued at about $43,000. 97.20% of the stock is owned by hedge funds and other 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.