Finance Of America Companies Inc. (NYSE:FOA) Short Interest Up 22.8% in March
Finance Of America Companies Inc. (NYSE:FOA – Get Rating) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 853,100 shares, an increase of 22.8% from the February 28th total of 694,600 shares. Approximately 3.8% of the company’s shares are short sold. Based on an average trading volume of 424,800 shares, the days-to-cover ratio is currently 2.0 days.
Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in Finance Of America Companies by 4.9% in the 3rd quarter. BlackRock Inc. now owns 1,830,760 shares of the company’s stock valued at $9,062,000 after acquiring an additional 86,128 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Finance Of America Companies in the 4th quarter valued at $4,476,000. State Street Corp lifted its position in Finance Of America Companies by 3.3% in the 4th quarter. State Street Corp now owns 470,679 shares of the company’s stock valued at $1,869,000 after acquiring an additional 15,221 shares in the last quarter. Geode Capital Management LLC lifted its position in Finance Of America Companies by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 441,313 shares of the company’s stock valued at $2,184,000 after acquiring an additional 26,830 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in Finance Of America Companies in the 4th quarter valued at $1,382,000.
FOA has been the topic of a number of recent research reports. Credit Suisse Group reduced their price objective on shares of Finance Of America Companies from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 23rd. Raymond James reduced their price objective on shares of Finance Of America Companies from $10.50 to $8.50 and set a “strong-buy” rating on the stock in a research note on Monday, March 7th. Zacks Investment Research cut shares of Finance Of America Companies from a “hold” rating to a “strong sell” rating in a research note on Friday, March 11th. Finally, Morgan Stanley reduced their price objective on shares of Finance Of America Companies from $4.00 to $3.75 and set an “equal weight” rating on the stock in a research note on Friday, March 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $5.80.
Shares of NYSE FOA opened at $3.07 on Friday. The company’s fifty day moving average is $3.32 and its 200-day moving average is $4.19. Finance Of America Companies has a twelve month low of $2.86 and a twelve month high of $11.66. The company has a debt-to-equity ratio of 9.62, a current ratio of 2.02 and a quick ratio of 2.02.
Finance Of America Companies Company Profile (Get Rating)
Finance of America Companies Inc operates a consumer lending platform in the United States. The company provides residential mortgages, reverse mortgages, and loans to residential real estate investors distributed across retail, third party network, and digital channels. It also offers complementary lending services to enhance the customer experience, as well as capital markets and portfolio management services to optimize distribution to investors.
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