Finance of America Companies (NYSE:FOA) Stock Price Down 6.4% – Here’s What Happened

Finance of America Companies Inc. (NYSE:FOA)’s stock price was down 6.4% on Thursday . The company traded as low as $10.30 and last traded at $10.30. Approximately 7,589 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 21,510 shares. The stock had previously closed at $11.00.

Analyst Upgrades and Downgrades

Separately, UBS Group lowered their price objective on shares of Finance of America Companies from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, September 5th.

Finance of America Companies Stock Performance

The company has a debt-to-equity ratio of 71.55, a current ratio of 2.83 and a quick ratio of 2.83. The business has a 50 day moving average price of $9.55 and a two-hundred day moving average price of $7.38. The stock has a market cap of $1.09 billion, a PE ratio of -8.98 and a beta of 1.08.

Finance of America Companies (NYSE:FOA) last posted its earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.15. The business had revenue of $79.04 million during the quarter, compared to the consensus estimate of $66.00 million. During the same period in the previous year, the business earned ($0.15) earnings per share. As a group, equities research analysts forecast that Finance of America Companies Inc. will post 0.11 EPS for the current fiscal year.

Institutional Trading of Finance of America Companies

Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC lifted its holdings in shares of Finance of America Companies by 2.7% during 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 last quarter. AQR Capital Management LLC bought a new stake in Finance of America Companies in the second quarter worth $41,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Finance of America Companies during the 2nd quarter valued at about $43,000. Institutional investors own 97.20% of the company’s stock.

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.