Short Interest in Finance of America Companies Inc. (NYSE:FOA) Expands By 159.7%

Finance of America Companies Inc. (NYSE:FOA) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 383,800 shares, a growth of 159.7% from the November 30th total of 147,800 shares. Approximately 9.6% of the shares of the stock are sold short. Based on an average trading volume of 92,300 shares, the days-to-cover ratio is presently 4.2 days.

Insider Activity

In other Finance of America Companies news, Director Lance West sold 23,245 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $22.10, for a total transaction of $513,714.50. Following the transaction, the director now owns 12,280 shares in the company, valued at $271,388. The trade was a 65.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Norma Corio bought 4,300 shares of the stock in a transaction dated Thursday, December 12th. The stock was purchased at an average price of $25.61 per share, with a total value of $110,123.00. Following the acquisition, the director now directly owns 16,580 shares in the company, valued at approximately $424,613.80. The trade was a 35.02 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 43,632 shares of company stock worth $937,887. 15.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC purchased a new position in Finance of America Companies during the second quarter valued at approximately $41,000. Renaissance Technologies LLC increased its holdings 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 valued at $55,000 after acquiring an additional 3,000 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Finance of America Companies in the 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 97.20% of the company’s stock.

Finance of America Companies Price Performance

FOA opened at $28.55 on Friday. 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 business has a fifty day moving average of $19.35 and a 200 day moving average of $11.91. Finance of America Companies has a 52-week low of $4.10 and a 52-week high of $29.97. The stock has a market cap of $283.39 million, a P/E ratio of 2.44 and a beta of 1.22.

Finance of America Companies (NYSE:FOA) last posted its quarterly earnings results 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. 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 during the quarter, compared to the consensus estimate of $72.00 million. During the same quarter in the previous year, the firm posted ($1.40) earnings per share. As a group, sell-side analysts anticipate that Finance of America Companies will post 0.75 EPS for the current year.

Analysts Set New Price Targets

Separately, UBS Group downgraded shares of Finance of America Companies from a “buy” rating to a “neutral” rating and raised their price objective 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.