Finance of America Companies (NYSE:FOA) Shares Down 4.5% – Here’s What Happened

Finance of America Companies Inc. (NYSE:FOA) was down 4.5% during mid-day trading on Friday . The company traded as low as $24.17 and last traded at $24.55. Approximately 105,581 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 171,919 shares. The stock had previously closed at $25.71.

Wall Street Analyst Weigh In

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

Finance of America Companies Price Performance

The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 40.07. The firm’s fifty day moving average price is $25.98 and its 200 day moving average price is $16.52. The stock has a market cap of $243.78 million, a PE ratio of 2.10 and a beta of 1.10.

Finance of America Companies (NYSE:FOA) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.67 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $72.00 million. During the same quarter in the prior year, the firm earned ($1.40) EPS. As a group, equities analysts expect that Finance of America Companies Inc. will post 0.75 EPS for the current fiscal year.

Insider Activity at Finance of America Companies

In other Finance of America Companies news, Director Norma Corio bought 4,300 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average cost of $25.61 per share, for a total transaction of $110,123.00. Following the transaction, the director now owns 16,580 shares of the company’s stock, valued at $424,613.80. This represents a 35.02 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lance West sold 13,637 shares of Finance of America Companies stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $20.71, for a total value of $282,422.27. Following the completion of the transaction, the director now owns 56,363 shares of the company’s stock, valued at approximately $1,167,277.73. This represents a 19.48 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,632 shares of company stock valued at $937,887. Insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Finance of America Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI bought a new position in shares of Finance of America Companies during the 4th quarter valued at approximately $562,000. Nkcfo LLC bought a new position in Finance of America Companies during the fourth quarter valued at $815,000. AQR Capital Management LLC purchased a new stake in shares of Finance of America Companies in the second quarter valued at $41,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Finance of America Companies by 2.7% in the 2nd 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 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.