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

Finance of America Companies Inc. (NYSE:FOA) saw a significant increase in short interest in November. As of November 15th, there was short interest totalling 73,000 shares, an increase of 8.5% from the October 31st total of 67,300 shares. Based on an average daily trading volume, of 56,500 shares, the short-interest ratio is currently 1.3 days. Currently, 1.9% of the shares of the stock are sold short.

Finance of America Companies Trading Up 8.9 %

NYSE FOA traded up $1.76 during trading hours on Wednesday, hitting $21.63. The company’s stock had a trading volume of 48,167 shares, compared to its average volume of 30,778. The stock has a fifty day moving average of $14.57 and a 200 day moving average of $9.78. 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 twelve month low of $4.10 and a twelve month high of $27.89. The firm has a market capitalization of $214.79 million, a P/E ratio of 1.87 and a beta of 1.22.

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 analysts’ consensus estimates of $0.13 by $0.54. The business had revenue of $290.07 million during 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 in the prior year, the company posted ($1.40) earnings per share. Equities research analysts forecast that Finance of America Companies will post 0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC acquired a new stake in Finance of America Companies during the 2nd quarter worth approximately $41,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Finance of America Companies in the second quarter worth $43,000. Finally, Renaissance Technologies LLC increased its stake 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 valued at $55,000 after buying an additional 3,000 shares during the last quarter. 97.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.