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

Finance of America Companies Inc. (NYSE:FOA) was the target of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 147,800 shares, an increase of 102.5% from the November 15th total of 73,000 shares. Based on an average trading volume of 66,800 shares, the days-to-cover ratio is presently 2.2 days. Currently, 3.9% of the shares of the company are short sold.

Insider Transactions at Finance of America Companies

In related news, Director Lance West sold 13,637 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $20.71, for a total value of $282,422.27. Following the sale, the director now owns 56,363 shares in the company, valued at $1,167,277.73. This represents a 19.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 43,632 shares of company stock worth $937,887 over the last ninety days. 15.60% of the stock is currently owned by company insiders.

Institutional Trading of Finance of America Companies

Several institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new position in Finance of America Companies during the 2nd quarter worth approximately $41,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Finance of America Companies during the second quarter worth $43,000. Finally, Renaissance Technologies LLC lifted its stake in Finance of America Companies by 2.7% during the second quarter. Renaissance Technologies LLC now owns 112,500 shares of the company’s stock worth $55,000 after purchasing an additional 3,000 shares during the last quarter. 97.20% of the stock is owned by institutional investors and hedge funds.

Finance of America Companies Stock Down 5.5 %

Finance of America Companies stock traded down $1.42 during trading on Friday, reaching $24.26. 202,775 shares of the company’s stock were exchanged, compared to its average volume of 34,808. The company’s 50-day moving average is $16.49 and its two-hundred day moving average is $10.62. The firm has a market cap of $240.80 million, a price-to-earnings ratio of 2.07 and a beta of 1.22. Finance of America Companies has a 52-week low of $4.10 and a 52-week high of $27.89. 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 (NYSE:FOA) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.54. Finance of America Companies had a net margin of 18.89% and a negative return on equity of 4.00%. The business had revenue of $290.07 million during the quarter, compared to analyst estimates of $72.00 million. During the same period last year, the business earned ($1.40) EPS. On average, analysts predict that Finance of America Companies will post 0.75 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.