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

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

Insiders Place Their Bets

In other news, Director Lance West sold 13,637 shares of the business’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 transaction of $282,422.27. Following the completion of the transaction, the director now directly owns 56,363 shares in the company, valued at approximately $1,167,277.73. The trade was a 19.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 43,632 shares of company stock valued at $937,887 over the last quarter. Insiders own 15.60% of the company’s stock.

Institutional Trading of Finance of America Companies

Several institutional investors have recently modified their holdings of FOA. AQR Capital Management LLC acquired a new stake in Finance of America Companies during the second quarter valued at approximately $41,000. Renaissance Technologies LLC increased its holdings 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 buying an additional 3,000 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Finance of America Companies during the 2nd quarter valued at $43,000. Institutional investors and hedge funds own 97.20% of the company’s stock.

Finance of America Companies Price Performance

FOA traded down $1.42 on Friday, reaching $24.26. The company had a trading volume of 202,775 shares, compared to its average volume of 34,808. Finance of America Companies has a one year low of $4.10 and a one year high of $27.89. The company has a market capitalization of $240.80 million, a P/E ratio of 2.07 and a beta of 1.22. The company has a fifty day moving average of $16.49 and a 200-day moving average of $10.62. 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 (NYSE:FOA) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.54. The business had revenue of $290.07 million for the quarter, compared to analyst estimates of $72.00 million. Finance of America Companies had a net margin of 18.89% and a negative return on equity of 4.00%. During the same quarter last year, the business earned ($1.40) earnings per share. As a group, equities research analysts anticipate that Finance of America Companies will post 0.75 earnings per share for the current year.

Analyst Ratings Changes

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

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.