Better Home & Finance (NASDAQ:BETR) Downgraded by Wall Street Zen to Strong Sell

Key Points

• Wall Street Zen downgraded Better Home & Finance from “sell” to “strong sell,” contrasting with the broader analyst consensus of “Moderate Buy” and an average price target of $36.33.
• BETR shares opened at $23.50 and have traded between $12.57 and $94.06 over the past year; the stock is down significantly from its 12-month high and has a market capitalization of about $443 million.
• Insider activity was mixed, with a COO sale offset by director purchases; insiders own 27.72% of the company, while institutional investors hold 20.94%.

Better Home & Finance (NASDAQ:BETR - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report released on Saturday.

Other analysts have also recently issued research reports about the company. Cantor Fitzgerald restated an "overweight" rating and issued a $32.00 price target on shares of Better Home & Finance in a research report on Monday, July 20th. Needham & Company LLC reaffirmed a "buy" rating and set a $35.00 price objective on shares of Better Home & Finance in a research report on Friday. BTIG Research assumed coverage on Better Home & Finance in a research note on Tuesday, June 16th. They set a "buy" rating and a $36.00 price objective for the company. Canaccord Genuity Group assumed coverage on shares of Better Home & Finance in a report on Thursday, June 18th. They issued a "buy" rating and a $42.00 target price for the company. Finally, Roth Capital initiated coverage on shares of Better Home & Finance in a report on Monday, June 15th. They issued a "buy" rating and a $35.00 target price for the company. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.33.

Better Home & Finance Trading Up 10.4%

Shares of BETR stock opened at $23.50 on Friday. Better Home & Finance has a 12 month low of $12.57 and a 12 month high of $94.06. The stock has a market cap of $443.44 million, a P/E ratio of -2.00 and a beta of 1.71. The company has a 50 day simple moving average of $25.73 and a two-hundred day simple moving average of $30.60.

Insiders Place Their Bets

In other news, COO Chad M. Smith sold 2,455 shares of the business's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $30.16, for a total value of $74,042.80. Following the transaction, the chief operating officer directly owned 21,061 shares in the company, valued at $635,199.76. The trade was a 10.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hugh R. Frater acquired 5,150 shares of the company's stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $24.34 per share, with a total value of $125,351.00. Following the purchase, the director owned 6,326 shares of the company's stock, valued at approximately $153,974.84. This trade represents a 437.93% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 51,433 shares of company stock worth $1,334,148. 27.72% of the stock is currently owned by corporate insiders.

Institutional Trading of Better Home & Finance

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stoic Point Capital Management LLC purchased a new position in Better Home & Finance in the 1st quarter worth approximately $467,000. Royal Bank of Canada raised its position in shares of Better Home & Finance by 1,264.0% during the first quarter. Royal Bank of Canada now owns 2,728 shares of the company's stock valued at $97,000 after buying an additional 2,528 shares during the last quarter. Quantinno Capital Management LP bought a new stake in shares of Better Home & Finance during the first quarter valued at approximately $505,000. Walleye Capital LLC purchased a new position in shares of Better Home & Finance in the first quarter worth $262,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Better Home & Finance by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 13,890 shares of the company's stock worth $495,000 after buying an additional 548 shares in the last quarter. Institutional investors own 20.94% of the company's stock.

Better Home & Finance Company Profile

Better Home & Finance Holding Co engages in the provision of comprehensive homeownership services. It offers mortgage loans, real estate agent services, and title and homeowner's insurance services. The company was founded in 2014 and is headquartered in New York, NY.

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