Finance of America Companies Inc. (NYSE:FOA) Short Interest Up 8.5% in November

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

Institutional Investors Weigh In On Finance of America Companies

Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new stake in Finance of America Companies in the second quarter valued at $41,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Finance of America Companies in the second quarter valued at $43,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Finance of America Companies by 2.7% during the second 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 period. 97.20% of the stock is currently owned by institutional investors.

Finance of America Companies Stock Performance

FOA traded up $1.57 during trading hours on Wednesday, hitting $21.44. 67,456 shares of the stock were exchanged, compared to its average volume of 30,798. The stock has a 50-day simple moving average of $14.57 and a 200-day simple moving average of $9.78. Finance of America Companies has a 12 month low of $4.10 and a 12 month high of $27.89. The stock has a market cap of $212.90 million, a price-to-earnings ratio of 1.85 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.

Finance of America Companies (NYSE:FOA) last posted its earnings results on Wednesday, November 6th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.54. The company 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 last year, the business posted ($1.40) earnings per share. Analysts anticipate that Finance of America Companies will post 0.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, UBS Group cut 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.