Finance of America Companies (NYSE:FOA) Shares Up 4.6% – Here’s What Happened

Finance of America Companies Inc. (NYSE:FOA)’s stock price traded up 4.6% on Tuesday . The company traded as high as $10.95 and last traded at $10.77. 3,633 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 21,528 shares. The stock had previously closed at $10.30.

Wall Street Analysts Forecast Growth

Separately, UBS Group lowered their target price on shares of Finance of America Companies from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th.

Finance of America Companies Stock Performance

The business has a 50-day moving average of $9.47 and a 200 day moving average of $7.36. The company has a debt-to-equity ratio of 71.55, a current ratio of 2.83 and a quick ratio of 2.83. The company has a market cap of $1.08 billion, a PE ratio of -9.00 and a beta of 1.08.

Finance of America Companies (NYSE:FOA) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.15. The business had revenue of $79.04 million during the quarter, compared to the consensus estimate of $66.00 million. During the same quarter in the previous year, the business posted ($0.15) earnings per share. Equities research analysts anticipate that Finance of America Companies Inc. will post 0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC purchased a new position in Finance of America Companies during the second quarter valued at approximately $41,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Finance of America Companies in the second quarter valued at about $43,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Finance of America Companies by 2.7% in the second quarter. Renaissance Technologies LLC now owns 112,500 shares of the company’s stock worth $55,000 after acquiring an additional 3,000 shares during the period. 97.20% of the stock is currently owned by institutional investors.

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.