Finance of America Companies Inc. (NYSE:FOA) Short Interest Up 102.5% in November

Finance of America Companies Inc. (NYSE:FOA) was the target of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 147,800 shares, an increase of 102.5% from the November 15th total of 73,000 shares. Based on an average trading volume of 66,800 shares, the days-to-cover ratio is currently 2.2 days. Currently, 3.9% of the shares of the stock are sold short.

Finance of America Companies Stock Performance

Shares of NYSE:FOA traded down $1.42 during trading on Friday, reaching $24.26. 202,775 shares of the stock were exchanged, compared to its average volume of 34,808. Finance of America Companies has a 12 month low of $4.10 and a 12 month high of $27.89. The firm has a market cap of $240.80 million, a PE ratio of 2.07 and a beta of 1.22. The stock has a 50-day moving average price of $16.49 and a 200-day moving average price of $10.62. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 40.07.

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

Insider Activity at Finance of America Companies

In other news, Director Lance West sold 23,245 shares of the company’s stock in a transaction that occurred 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 directly owns 12,280 shares in the company, valued at approximately $271,388. This represents a 65.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 43,632 shares of company stock valued at $937,887 over the last quarter. 15.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its holdings 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 purchasing an additional 3,000 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Finance of America Companies during the second quarter valued at $43,000. Finally, AQR Capital Management LLC bought a new stake in Finance of America Companies during the second quarter valued at $41,000. 97.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.