Finance of America Companies (NYSE:FOA) Stock Price Up 5.6%

Finance of America Companies Inc. (NYSE:FOA)’s stock price was up 5.6% during trading on Wednesday . The company traded as high as $10.66 and last traded at $10.65. Approximately 8,728 shares changed hands during trading, a decline of 57% from the average daily volume of 20,476 shares. The stock had previously closed at $10.09.

Analyst Upgrades and Downgrades

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

Finance of America Companies Stock Up 12.5 %

The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 71.55. The company has a market capitalization of $1.12 billion, a P/E ratio of -9.38 and a beta of 1.05. The firm’s 50 day moving average price is $7.24 and its two-hundred day moving average price is $6.80.

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

Hedge Funds Weigh In On Finance of America Companies

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in Finance of America Companies by 2.7% in the 2nd quarter. Renaissance Technologies LLC now owns 112,500 shares of the company’s stock valued at $55,000 after acquiring an additional 3,000 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Finance of America Companies in the second quarter valued at $43,000. Finally, AQR Capital Management LLC bought a new position in shares of Finance of America Companies in the second quarter valued at about $41,000. 97.20% of the stock is currently owned by institutional investors and hedge funds.

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.