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 during the month of December. As of December 15th, there was short interest totalling 383,800 shares, an increase of 159.7% from the November 30th total of 147,800 shares. Based on an average daily trading volume, of 92,300 shares, the days-to-cover ratio is currently 4.2 days. Currently, 9.6% of the company’s stock are sold short.

Insider Activity at Finance of America Companies

In related news, Director Norma Corio purchased 4,300 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $25.61 per share, with a total value of $110,123.00. Following the completion of the acquisition, the director now owns 16,580 shares of the company’s stock, valued at approximately $424,613.80. This represents a 35.02 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lance West sold 6,750 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $21.00, for a total value of $141,750.00. Following the completion of the transaction, the director now owns 23,245 shares of the company’s stock, valued at $488,145. This trade represents a 22.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,632 shares of company stock valued at $937,887 over the last three months. 15.60% of the stock is owned by insiders.

Institutional Trading of Finance of America Companies

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

Analysts Set New Price Targets

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

Finance of America Companies Stock Down 5.4 %

FOA opened at $27.02 on Friday. Finance of America Companies has a fifty-two week low of $4.10 and a fifty-two week high of $29.97. The company 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 current ratio of 2.80 and a quick ratio of 2.80. The firm’s fifty day moving average price is $19.67 and its two-hundred day moving average price is $12.10.

Finance of America Companies (NYSE:FOA) last announced its earnings results on Wednesday, November 6th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.54. The business had revenue of $290.07 million during the quarter, compared to analysts’ expectations of $72.00 million. Finance of America Companies had a net margin of 18.89% and a negative return on equity of 4.00%. During the same quarter last year, the company posted ($1.40) EPS. On average, analysts anticipate that Finance of America Companies will post 0.75 EPS for the current year.

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.