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

UBS Group lowered shares of Finance of America Companies (NYSE:FOA) from a buy rating to a neutral rating in a research report report published on Wednesday morning, Marketbeat reports. The brokerage currently has $24.00 price objective on the stock, up from their previous price objective of $14.00.

Finance of America Companies Trading Down 16.7 %

FOA opened at $19.63 on Wednesday. Finance of America Companies has a one year low of $4.10 and a one year high of $27.89. 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 has a market cap of $194.93 million, a price-to-earnings ratio of 1.68 and a beta of 1.07. The stock’s 50 day moving average price is $13.09 and its 200-day moving average price is $8.95.

Finance of America Companies (NYSE:FOA) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.54. Finance of America Companies had a net margin of 18.89% and a negative return on equity of 4.00%. The firm had revenue of $290.07 million during the quarter, compared to the consensus estimate of $72.00 million. During the same quarter in the previous year, the firm posted ($1.40) earnings per share. On average, equities analysts forecast that Finance of America Companies will post 0.11 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FOA. AQR Capital Management LLC bought a new position in shares of Finance of America Companies during the second quarter valued at approximately $41,000. Renaissance Technologies LLC boosted 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 valued at $55,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Finance of America Companies in the second quarter valued at about $43,000. 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.