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

Key Points

• Better Home & Finance (NASDAQ:BETR) was downgraded from a "hold" to a "sell" rating by Wall Street Zen, indicating a negative outlook from analysts.
• The company's stock has seen a significant decline, down 4.6%, with a current market cap of $873.26 million and a 52-week trading range between $7.71 and $94.06.
• Insiders have sold over 1 million shares of Better Home & Finance stock in the last 90 days, raising concerns about insider confidence in the company's prospects.

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

Other research analysts have also issued reports about the company. Northland Capmk raised Better Home & Finance to a "hold" rating in a research report on Monday, October 6th. Weiss Ratings restated a "sell (e+)" rating on shares of Better Home & Finance in a research note on Wednesday. Finally, Northland Securities initiated coverage on shares of Better Home & Finance in a research report on Monday, October 6th. They issued a "market perform" rating for the company. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Reduce".

Better Home & Finance Stock Down 4.6%

NASDAQ BETR opened at $56.89 on Friday. Better Home & Finance has a 52 week low of $7.71 and a 52 week high of $94.06. The company has a 50 day moving average price of $32.08 and a 200 day moving average price of $19.60. The firm has a market cap of $873.26 million, a PE ratio of -4.31 and a beta of 1.90.

Better Home & Finance (NASDAQ:BETR - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($1.99) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.27) by $0.28. The firm had revenue of $44.14 million during the quarter, compared to analysts' expectations of $44.14 million.

Insiders Place Their Bets

In related news, CAO J. Calamari Nicholas sold 12,528 shares of the business's stock in a transaction on Monday, October 6th. The shares were sold at an average price of $59.28, for a total transaction of $742,659.84. Following the completion of the transaction, the chief accounting officer directly owned 11,341 shares in the company, valued at $672,294.48. The trade was a 52.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Pbra, Llc sold 995,660 shares of the company's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $50.31, for a total transaction of $50,091,654.60. The disclosure for this sale can be found here. Insiders have sold 1,030,497 shares of company stock valued at $51,504,973 over the last 90 days. 23.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its stake in Better Home & Finance by 3.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 293,858 shares of the company's stock valued at $3,207,000 after buying an additional 8,924 shares in the last quarter. Geode Capital Management LLC increased its stake in Better Home & Finance by 90.6% during the 2nd quarter. Geode Capital Management LLC now owns 129,881 shares of the company's stock worth $1,609,000 after buying an additional 61,740 shares in the last quarter. Marshall Wace LLP increased its stake in Better Home & Finance by 151.6% during the 2nd quarter. Marshall Wace LLP now owns 89,804 shares of the company's stock worth $1,113,000 after buying an additional 54,113 shares in the last quarter. XTX Topco Ltd purchased a new stake in Better Home & Finance during the 2nd quarter worth approximately $197,000. Finally, Bank of America Corp DE increased its stake in Better Home & Finance by 87.6% during the 2nd quarter. Bank of America Corp DE now owns 13,871 shares of the company's stock worth $172,000 after buying an additional 6,479 shares in the last quarter. Institutional investors and hedge funds own 20.94% of the company's stock.

About Better Home & Finance

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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