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Finance of America Companies’ chief accounting officer sells $24,585 in stock

Published 21/03/2025, 21:14
Finance of America Companies’ chief accounting officer sells $24,585 in stock
FOA
-3.23%

In a recent transaction, Tai A. Thornock, the Chief Accounting Officer of Finance of America Companies Inc. (NYSE:FOA), sold 1,100 shares of the company’s Class A common stock. The company, currently valued at $524 million, has seen remarkable performance with a 188% return over the past year and trades at a P/E ratio of 13.7x. The shares were sold at a price of $22.35 each, amounting to a total sale value of $24,585. Following this transaction, Thornock retains ownership of 12,442 shares. The sale was conducted under a Rule 10b5-1 trading plan, initially adopted on December 4, 2024, and amended on December 13, 2024. According to InvestingPro analysis, FOA currently appears undervalued, with 8 additional exclusive ProTips available to subscribers, including insights on earnings growth and financial health metrics.

In other recent news, Finance of America Companies Inc. reported its financial results for the fourth quarter of 2024, showing a net loss of $143 million or $5.95 per share, despite a strong full-year performance with a $200 million increase in GAAP net income. The company’s full-year adjusted EPS rose by 116%, and adjusted EBITDA increased by 178%. Finance of America also announced the appointment of Andrew Essex and former U.S. Senator Cory Gardner to its Board of Directors, aiming to enhance its expertise in marketing and public policy. Additionally, UBS analyst Doug Harter adjusted the price target for Finance of America, reducing it from $29 to $25 while maintaining a Neutral rating on the stock. The revised target reflects a valuation pegged to 7.1 times the firm’s projected adjusted EPS for 2026. These developments come as the company continues to focus on expanding its product offerings and improving its cost structure. Finance of America remains committed to leveraging its strategic initiatives to drive long-term growth and financial results.

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