Finance of America Companies (NYSE:FOA) Rating Lowered to “Neutral” at UBS Group

UBS Group cut shares of Finance of America Companies (NYSE:FOA) from a buy rating to a neutral rating in a research note released on Wednesday morning, MarketBeat reports. They currently have $24.00 price target on the stock, up from their prior price target of $14.00.

Finance of America Companies Price Performance

NYSE:FOA opened at $21.92 on Wednesday. The company has a debt-to-equity ratio of 40.07, a quick ratio of 2.80 and a current ratio of 2.80. The stock’s 50-day simple moving average is $13.51 and its 200 day simple moving average is $9.14. The company has a market cap of $217.62 million, a P/E ratio of 1.87 and a beta of 1.07. Finance of America Companies has a 52-week low of $4.10 and a 52-week high of $27.89.

Finance of America Companies (NYSE:FOA) last released its earnings results on Wednesday, November 6th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.54. The business had revenue of $290.07 million for the quarter, compared to the consensus estimate of $72.00 million. Finance of America Companies had a negative return on equity of 4.00% and a net margin of 18.89%. During the same quarter in the previous year, the business earned ($1.40) earnings per share. As a group, sell-side analysts forecast that Finance of America Companies will post 0.11 EPS for the current fiscal year.

Institutional Trading of Finance of America Companies

Hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC acquired a new position in Finance of America Companies during the second quarter worth approximately $41,000. Renaissance Technologies LLC increased its position in Finance of America Companies by 2.7% during the second quarter. Renaissance Technologies LLC now owns 112,500 shares of the company’s stock worth $55,000 after buying an additional 3,000 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Finance of America Companies during the second quarter worth approximately $43,000. Institutional investors and hedge funds own 97.20% of the company’s stock.

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.