Finance of America Companies Inc. (NYSE:FOA) Sees Significant Growth in Short Interest

Finance of America Companies Inc. (NYSE:FOA) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 383,800 shares, an increase of 159.7% from the November 30th total of 147,800 shares. Based on an average daily trading volume, of 92,300 shares, the short-interest ratio is currently 4.2 days. Approximately 9.6% of the shares of the stock are short sold.

Finance of America Companies Price Performance

FOA opened at $27.02 on Friday. The business has a fifty day moving average of $19.67 and a 200 day moving average of $12.10. The stock has a market cap of $268.20 million, a P/E ratio of 2.31 and a beta of 1.22. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 40.07. Finance of America Companies has a 52-week low of $4.10 and a 52-week high of $29.97.

Finance of America Companies (NYSE:FOA) last issued its earnings results on Wednesday, November 6th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.54. The firm had revenue of $290.07 million during 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 period in the previous year, the firm earned ($1.40) earnings per share. As a group, sell-side analysts anticipate that Finance of America Companies will post 0.75 EPS for the current year.

Insider Buying and Selling at Finance of America Companies

In other Finance of America Companies news, Director Norma Corio purchased 4,300 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of $25.61 per share, with a total value of $110,123.00. Following the acquisition, the director now owns 16,580 shares in the company, valued at approximately $424,613.80. The trade was a 35.02 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lance West sold 6,750 shares of Finance of America Companies stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $21.00, for a total value of $141,750.00. Following the completion of the transaction, the director now owns 23,245 shares of the company’s stock, valued at approximately $488,145. This represents a 22.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,632 shares of company stock worth $937,887 in the last quarter. 15.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Finance of America Companies

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC increased 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 valued at $55,000 after buying an additional 3,000 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Finance of America Companies in the second quarter worth about $43,000. Finally, AQR Capital Management LLC bought a new stake in shares of Finance of America Companies in the 2nd quarter valued at about $41,000. 97.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, UBS Group downgraded Finance of America Companies from a “buy” rating to a “neutral” rating and raised 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.