Finance of America Companies Inc. (NYSE:FOA) Sees Significant Increase in Short Interest

Finance of America Companies Inc. (NYSE:FOA) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 629,200 shares, a growth of 63.9% from the December 15th total of 383,800 shares. Based on an average daily volume of 127,600 shares, the short-interest ratio is presently 4.9 days. Currently, 15.1% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

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

Finance of America Companies Stock Down 2.3 %

NYSE FOA traded down $0.62 during trading on Friday, reaching $26.68. The company’s stock had a trading volume of 46,944 shares, compared to its average volume of 216,007. 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 has a 1-year low of $4.10 and a 1-year high of $32.40. The business has a 50-day moving average price of $24.14 and a 200-day moving average price of $14.28. The stock has a market capitalization of $264.88 million, a PE ratio of 2.28 and a beta of 1.11.

Finance of America Companies (NYSE:FOA) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.54. The company 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 in the previous year, the firm earned ($1.40) earnings per share. On average, research analysts forecast that Finance of America Companies will post 0.75 earnings per share for the current fiscal year.

Insider Transactions at Finance of America Companies

In other Finance of America Companies news, Director Lance West sold 13,637 shares of Finance of America Companies stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $20.71, for a total transaction of $282,422.27. Following the transaction, the director now owns 56,363 shares of the company’s stock, valued at $1,167,277.73. The trade was a 19.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Norma Corio acquired 4,300 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average cost of $25.61 per share, for a total transaction of $110,123.00. Following the completion of the transaction, the director now directly owns 16,580 shares of the company’s stock, valued at $424,613.80. This represents a 35.02 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 43,632 shares of company stock valued at $937,887 over the last three months. Company insiders own 15.60% of the company’s stock.

Institutional Trading of Finance of America Companies

Several large investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Finance of America Companies during the 2nd quarter valued at approximately $43,000. AQR Capital Management LLC acquired a new position in shares of Finance of America Companies during the second quarter worth approximately $41,000. Finally, Renaissance Technologies LLC boosted 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 acquiring an additional 3,000 shares during the period. 97.20% of the stock is owned by institutional investors.

Finance of America Companies Company Profile

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.