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 growth in short interest in the month of October. As of October 31st, there was short interest totalling 67,300 shares, a growth of 5.8% from the October 15th total of 63,600 shares. Based on an average daily volume of 34,500 shares, the days-to-cover ratio is currently 2.0 days. Approximately 1.9% of the company’s shares are sold short.

Finance of America Companies Stock Down 13.6 %

Shares of FOA stock traded down $3.71 on Tuesday, hitting $23.59. 417,032 shares of the stock were exchanged, compared to its average volume of 27,117. Finance of America Companies has a fifty-two week low of $4.10 and a fifty-two week high of $27.88. The firm has a market capitalization of $234.25 million, a P/E ratio of 1.94 and a beta of 1.07. The business has a 50-day moving average of $12.64 and a 200 day moving average of $8.74. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 40.07.

Finance of America Companies (NYSE:FOA) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $290.07 million for the quarter, compared to analyst estimates of $72.00 million. During the same quarter in the prior year, the firm earned ($1.40) EPS. Equities analysts anticipate that Finance of America Companies will post 0.11 EPS for the current year.

Hedge Funds Weigh In On Finance of America Companies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in Finance of America Companies in the 2nd quarter valued at about $43,000. AQR Capital Management LLC bought a new stake in shares of Finance of America Companies in the 2nd quarter worth about $41,000. Finally, Renaissance Technologies LLC increased its position 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 purchasing an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 97.20% of the company’s stock.

Analysts Set New Price Targets

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 report 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.