UBS Group Downgrades Finance of America Companies (NYSE:FOA) to Neutral

UBS Group lowered shares of Finance of America Companies (NYSE:FOA) from a buy rating to a neutral rating in a research report sent to investors on Wednesday, Marketbeat.com reports. They currently have $24.00 target price on the stock, up from their prior target price of $14.00.

Finance of America Companies Price Performance

Shares of FOA stock opened at $19.63 on Wednesday. Finance of America Companies has a fifty-two week low of $4.10 and a fifty-two 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. The firm has a market capitalization of $194.93 million, a price-to-earnings ratio of 1.68 and a beta of 1.07. The stock’s 50-day simple moving average is $13.09 and its 200-day simple moving average is $8.95.

Finance of America Companies (NYSE:FOA) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.67 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $72.00 million. During the same quarter last year, the company posted ($1.40) earnings per share. As a group, equities analysts forecast that Finance of America Companies will post 0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. AQR Capital Management LLC acquired a new stake in Finance of America Companies during the 2nd quarter worth about $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Finance of America Companies in the 2nd quarter valued at $43,000. Finally, Renaissance Technologies LLC increased its holdings in 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. 97.20% of the stock is currently owned by hedge funds and other institutional investors.

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.