Finance of America Companies Inc. (NYSE:FOA – Get Free Report)’s share price gapped down prior to trading on Friday . The stock had previously closed at $11.80, but opened at $11.36. Finance of America Companies shares last traded at $11.49, with a volume of 1,822 shares trading hands.
Analyst Upgrades and Downgrades
Separately, UBS Group reduced their target price on shares of Finance of America Companies from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, September 5th.
Finance of America Companies Stock Down 2.4 %
Finance of America Companies (NYSE:FOA – Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.15. The company had revenue of $79.04 million during the quarter, compared to the consensus estimate of $66.00 million. During the same quarter in the previous year, the business posted ($0.15) EPS. As a group, equities analysts forecast that Finance of America Companies Inc. will post 0.11 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC acquired a new position in Finance of America Companies in the second quarter valued at approximately $41,000. Renaissance Technologies LLC lifted its stake in Finance of America Companies by 2.7% in the second 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 in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Finance of America Companies during the 2nd quarter worth about $43,000. Institutional investors and hedge funds own 97.20% of the company’s stock.
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.
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