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

Finance of America Companies Inc. (NYSE:FOA) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 383,800 shares, a growth of 159.7% from the November 30th total of 147,800 shares. Currently, 9.6% of the shares of the company are short sold. Based on an average daily volume of 92,300 shares, the short-interest ratio is presently 4.2 days.

Wall Street Analyst Weigh In

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

Finance of America Companies Price Performance

Shares of FOA stock opened at $27.02 on Friday. Finance of America Companies has a 52-week low of $4.10 and a 52-week high of $29.97. The firm has a market capitalization of $268.20 million, a P/E ratio of 2.31 and a beta of 1.22. 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 stock has a 50 day moving average price of $19.67 and a 200 day moving average price of $12.10.

Finance of America Companies (NYSE:FOA) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.54. The firm had revenue of $290.07 million for the quarter, compared to the consensus estimate 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 quarter last year, the business posted ($1.40) earnings per share. As a group, sell-side analysts predict that Finance of America Companies will post 0.75 earnings per share for the current year.

Insider Buying and Selling at Finance of America Companies

In other news, Director Lance West sold 23,245 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $22.10, for a total transaction of $513,714.50. Following the sale, the director now directly owns 12,280 shares in the company, valued at approximately $271,388. The trade was a 65.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Norma Corio acquired 4,300 shares of Finance of America Companies stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of $25.61 per share, for a total transaction of $110,123.00. Following the purchase, the director now owns 16,580 shares of the company’s stock, valued at $424,613.80. The trade was a 35.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 43,632 shares of company stock valued at $937,887 in the last quarter. Company insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On Finance of America Companies

A number of hedge funds have recently modified their holdings of FOA. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Finance of America Companies during the 2nd quarter valued at $43,000. AQR Capital Management LLC acquired a new stake in Finance of America Companies during the second quarter worth about $41,000. Finally, Renaissance Technologies LLC increased its position in Finance of America Companies by 2.7% during the 2nd quarter. Renaissance Technologies LLC now owns 112,500 shares of the company’s stock worth $55,000 after purchasing 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.