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

Finance of America Companies Inc. (NYSE:FOA) was the target of a large increase in short interest during the month of 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. Currently, 1.9% of the company’s shares are sold short. Based on an average trading volume of 34,500 shares, the days-to-cover ratio is presently 2.0 days.

Wall Street Analyst Weigh In

Separately, UBS Group cut their price objective on 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 Trading Down 13.7 %

Shares of FOA traded down $3.75 during trading hours on Tuesday, reaching $23.55. 336,759 shares of the company traded hands, compared to its average volume of 26,759. Finance of America Companies has a 12 month low of $4.10 and a 12 month high of $27.88. 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 company’s fifty day moving average price is $12.64 and its two-hundred day moving average price is $8.74. The company has a market capitalization of $233.85 million, a price-to-earnings ratio of 1.94 and a beta of 1.07.

Finance of America Companies (NYSE:FOA) last posted 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 in the previous year, the firm posted ($1.40) EPS. Equities research analysts predict that Finance of America Companies will post 0.11 earnings per share for the current fiscal year.

Institutional Trading of Finance of America Companies

Institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its stake 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 valued at $55,000 after purchasing an additional 3,000 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Finance of America Companies during the 2nd quarter worth $41,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Finance of America Companies in the 2nd quarter worth $43,000. 97.20% of the stock is 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.