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

UBS Group downgraded shares of Finance of America Companies (NYSE:FOA) from a buy rating to a neutral rating in a report issued on Wednesday, MarketBeat Ratings reports. UBS Group currently has $24.00 price objective on the stock, up from their prior price objective of $14.00.

Finance of America Companies Stock Performance

FOA stock opened at $21.92 on Wednesday. The business’s 50-day moving average price is $13.51 and its two-hundred day moving average price is $9.14. 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 cap of $217.62 million, a PE ratio of 1.87 and a beta of 1.07. Finance of America Companies has a 1-year low of $4.10 and a 1-year high of $27.89.

Finance of America Companies (NYSE:FOA) last posted its earnings results on Wednesday, November 6th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.54. The firm had revenue of $290.07 million for the quarter, compared to analyst estimates of $72.00 million. Finance of America Companies had a negative return on equity of 4.00% and a net margin of 18.89%. During the same period in the previous year, the company posted ($1.40) earnings per share. As a group, research analysts forecast that Finance of America Companies will post 0.11 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted 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 purchasing an additional 3,000 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of Finance of America Companies in the second quarter valued at about $41,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Finance of America Companies in the second quarter valued at about $43,000. 97.20% of the stock is currently owned by institutional investors.

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.