Finance Of America Companies Inc. (NYSE:FOA – Get Rating) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 1,200,000 shares, an increase of 17.6% from the March 31st total of 1,020,000 shares. Based on an average daily volume of 310,200 shares, the days-to-cover ratio is presently 3.9 days. Approximately 7.6% of the company’s stock are sold short.
Large investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Finance Of America Companies during the 4th quarter worth approximately $59,000. Coastal Bridge Advisors LLC acquired a new position in shares of Finance Of America Companies in the 3rd quarter valued at $226,000. Capstone Financial Advisors Inc. acquired a new position in shares of Finance Of America Companies in the 3rd quarter valued at $50,000. Citigroup Inc. increased its holdings in shares of Finance Of America Companies by 326.2% in the 3rd quarter. Citigroup Inc. now owns 10,588 shares of the company’s stock valued at $52,000 after acquiring an additional 8,104 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of Finance Of America Companies by 12.3% in the 4th quarter. First Trust Advisors LP now owns 33,462 shares of the company’s stock valued at $133,000 after acquiring an additional 3,665 shares during the period.
Several research firms have recently commented on FOA. Morgan Stanley lowered their price objective on shares of Finance Of America Companies from $4.00 to $3.75 and set an “equal weight” rating for the company in a research note on Friday, March 4th. Credit Suisse Group decreased their price target on shares of Finance Of America Companies from $9.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday, March 23rd. Raymond James decreased their price target on shares of Finance Of America Companies from $10.50 to $8.50 and set a “strong-buy” rating for the company in a research note on Monday, March 7th. Zacks Investment Research downgraded shares of Finance Of America Companies from a “hold” rating to a “strong sell” rating in a research note on Friday, March 11th. Finally, The Goldman Sachs Group decreased their price target on shares of Finance Of America Companies from $4.50 to $3.85 and set a “neutral” rating for the company in a research note on Monday, April 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Finance Of America Companies has a consensus rating of “Hold” and an average target price of $5.47.
Shares of NYSE:FOA opened at $2.40 on Wednesday. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 9.62. Finance Of America Companies has a twelve month low of $2.23 and a twelve month high of $11.66. The business’s 50 day moving average is $2.90.
Finance Of America Companies (NYSE:FOA – Get Rating) last issued its quarterly earnings data on Wednesday, March 2nd. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. The company had revenue of $382.95 million for the quarter, compared to analysts’ expectations of $425.62 million. On average, equities research analysts forecast that Finance Of America Companies will post 0.9 EPS for the current year.
Finance Of America Companies Company Profile (Get Rating)
Finance of America Companies Inc operates a consumer lending platform in the United States. The company operates through: Mortgage Originations, Reverse Originations, Commercial Originations, Lender Services, and Portfolio Management segments. It provides residential mortgage loans to the government sponsored entities; government-insured agricultural lending solutions to farmers; product development, loan securitization, loan sales, risk management, asset management, and servicing oversight services to enterprise and third-party funds; and ancillary business services, title agency and title insurance services, mortgage servicing rights valuation and trade brokerage, transactional fulfillment services, mortgage loan third party review or due diligence services, and appraisal and capital management services to residential mortgage, student lending, and commercial lending industry customers.
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