Short Interest in Finance of America Companies Inc. (NYSE:FOA) Increases By 63.9%

Finance of America Companies Inc. (NYSE:FOA) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 629,200 shares, an increase 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. Approximately 15.1% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

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

Insider Transactions at Finance of America Companies

In other Finance of America Companies news, Director Norma Corio purchased 4,300 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $25.61 per share, for a total transaction of $110,123.00. Following the completion of the purchase, the director now owns 16,580 shares in the company, valued at $424,613.80. The trade was a 35.02 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lance West sold 23,245 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $22.10, for a total value of $513,714.50. Following the sale, the director now owns 12,280 shares of the company’s stock, valued at approximately $271,388. This trade represents a 65.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,632 shares of company stock valued at $937,887. Corporate insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its holdings 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 acquiring an additional 3,000 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Finance of America Companies in the 2nd quarter worth approximately $43,000. Finally, AQR Capital Management LLC acquired a new stake in Finance of America Companies during the second quarter valued at approximately $41,000. 97.20% of the stock is currently owned by institutional investors.

Finance of America Companies Stock Performance

FOA traded down $0.62 during trading hours on Friday, hitting $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 50-day simple moving average of $24.14 and a 200 day simple moving average of $14.28. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 40.07. The firm has a market capitalization of $264.88 million, a PE ratio of 2.28 and a beta of 1.11. Finance of America Companies has a fifty-two week low of $4.10 and a fifty-two week high of $32.40.

Finance of America Companies (NYSE:FOA) last issued its quarterly earnings data 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. The business had revenue of $290.07 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the business earned ($1.40) earnings per share. As a group, sell-side analysts expect that Finance of America Companies will post 0.75 EPS for the current year.

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.