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

Finance of America Companies Inc. (NYSE:FOA) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 67,300 shares, an increase of 5.8% from the October 15th total of 63,600 shares. Approximately 1.9% of the company’s stock are sold short. Based on an average daily volume of 34,500 shares, the days-to-cover ratio is presently 2.0 days.

Institutional Investors Weigh In On Finance of America Companies

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

Finance of America Companies Stock Performance

Shares of Finance of America Companies stock traded down $3.75 on Tuesday, hitting $23.55. The stock had a trading volume of 336,759 shares, compared to its average volume of 26,759. The business’s 50 day moving average is $12.64 and its two-hundred day moving average is $8.74. Finance of America Companies has a twelve month low of $4.10 and a twelve month high of $27.88. The stock has a market cap of $233.85 million, a price-to-earnings ratio of 1.94 and a beta of 1.07. 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 (NYSE:FOA) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.54. The business had revenue of $290.07 million for the quarter, compared to analysts’ expectations 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 last year, the business earned ($1.40) EPS. Analysts forecast that Finance of America Companies will post 0.11 EPS for the current year.

Wall Street Analyst Weigh In

Separately, UBS Group lowered their price objective on shares of Finance of America Companies from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th.

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.