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Finance Of America Companies Inc. (NYSE:FOA) Short Interest Up 27.3% in September

kopsource · Oct 2, 2022 14:52

Finance Of America Companies Inc. (NYSE:FOA – Get Rating) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totalling 1,630,000 shares, a growth of 27.3% from the August 31st total of 1,280,000 shares. Based on an average daily volume of 268,800 shares, the days-to-cover ratio is currently 6.1 days. Approximately 6.0% of the company's stock are short sold.

Finance Of America Companies Trading Up 2.8 %

Shares of FOA stock traded up $0.04 during midday trading on Friday, hitting $1.48. The company had a trading volume of 123,097 shares, compared to its average volume of 151,524. The company's 50 day simple moving average is $1.54 and its 200 day simple moving average is $2.05. Finance Of America Companies has a 52-week low of $1.20 and a 52-week high of $5.99. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 12.45.

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Finance Of America Companies (NYSE:FOA – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.26). Finance Of America Companies had a positive return on equity of 9.38% and a negative net margin of 33.91%. The firm had revenue of $141.12 million for the quarter, compared to analyst estimates of $341.24 million. During the same period in the prior year, the firm posted $0.30 earnings per share. As a group, equities analysts anticipate that Finance Of America Companies will post -0.07 earnings per share for the current year.

Insiders Place Their Bets

In other Finance Of America Companies news, major shareholder Edmond Safra purchased 100,000 shares of the company's stock in a transaction dated Wednesday, July 6th. The shares were acquired at an average price of $1.70 per share, for a total transaction of $170,000.00. Following the completion of the purchase, the insider now owns 4,601,888 shares of the company's stock, valued at $7,823,209.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders bought 176,954 shares of company stock worth $303,168. 3.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Finance Of America Companies

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Finance Of America Companies during the second quarter valued at approximately $27,000. American International Group Inc. raised its stake in Finance Of America Companies by 101.1% during the second quarter. American International Group Inc. now owns 18,171 shares of the company's stock valued at $29,000 after buying an additional 9,137 shares in the last quarter. Bank of Montreal Can acquired a new stake in Finance Of America Companies during the second quarter valued at approximately $30,000. Capstone Financial Advisors Inc. raised its stake in Finance Of America Companies by 66.7% during the second quarter. Capstone Financial Advisors Inc. now owns 25,000 shares of the company's stock valued at $39,000 after buying an additional 10,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Finance Of America Companies by 35.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 29,128 shares of the company's stock worth $46,000 after purchasing an additional 7,573 shares during the period. Hedge funds and other institutional investors own 53.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Credit Suisse Group dropped their target price on Finance Of America Companies to $4.00 in a research report on Monday, August 22nd. Morgan Stanley reduced their price objective on Finance Of America Companies from $2.50 to $2.00 and set an "equal weight" rating for the company in a research note on Monday, August 15th.

Finance Of America Companies Company Profile

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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.