Finance of America Companies Inc. (NYSE:FOA – Get Free Report) was the recipient of a large increase in short interest in November. As of November 15th, there was short interest totalling 73,000 shares, an increase of 8.5% from the October 31st total of 67,300 shares. Currently, 1.9% of the company’s shares are sold short. Based on an average daily volume of 56,500 shares, the days-to-cover ratio is currently 1.3 days.
Analyst Upgrades and Downgrades
Separately, UBS Group downgraded shares of Finance of America Companies from a “buy” rating to a “neutral” rating and increased their price objective for the company from $14.00 to $24.00 in a research report on Wednesday, November 20th.
Read Our Latest Analysis on Finance of America Companies
Finance of America Companies Stock Up 7.9 %
Finance of America Companies (NYSE:FOA – Get Free Report) last issued its quarterly earnings data 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 net margin of 18.89% and a negative return on equity of 4.00%. The company had revenue of $290.07 million during the quarter, compared to the consensus estimate of $72.00 million. During the same quarter last year, the company earned ($1.40) earnings per share. Analysts predict that Finance of America Companies will post 0.11 EPS for the current year.
Institutional Trading of Finance of America Companies
A number of hedge funds have recently made changes to their positions in FOA. AQR Capital Management LLC acquired a new stake in shares of Finance of America Companies during the second quarter worth approximately $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Finance of America Companies during the second quarter worth approximately $43,000. Finally, Renaissance Technologies LLC grew its position 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 worth $55,000 after buying an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 97.20% of the company’s stock.
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.
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