Better Home & Finance (NASDAQ:BETR) Issues Earnings Results

Key Points

• Better Home & Finance reported a quarterly earnings per share of ($1.99), beating analysts' expectations of ($2.27) by $0.28.
• Following the earnings announcement, shares of Better Home & Finance increased by 23.5% to $17.68, on a trading volume significantly higher than its average.
• Recent insider activity included Director Prabhu Narasimhan purchasing 42,352 shares, increasing his holdings by 241.14%, demonstrating confidence in the company's future.

Better Home & Finance (NASDAQ:BETR - Get Free Report) released its quarterly earnings data on Wednesday. The company reported ($1.99) earnings per share for the quarter, beating analysts' consensus estimates of ($2.27) by $0.28, Zacks reports. Better Home & Finance had a negative return on equity of 1,105.80% and a negative net margin of 172.87%.

Better Home & Finance Trading Up 23.5%

Shares of NASDAQ BETR traded up $3.37 during mid-day trading on Wednesday, hitting $17.68. The company had a trading volume of 163,985 shares, compared to its average volume of 35,894. The company has a market capitalization of $268.74 million, a PE ratio of -1.33 and a beta of 1.51. The firm has a 50-day simple moving average of $13.42 and a two-hundred day simple moving average of $12.57. Better Home & Finance has a one year low of $7.71 and a one year high of $22.66.

Insider Transactions at Better Home & Finance

In related news, Director Prabhu Narasimhan acquired 42,352 shares of the business's stock in a transaction on Friday, May 16th. The stock was purchased at an average cost of $14.10 per share, for a total transaction of $597,163.20. Following the completion of the transaction, the director directly owned 59,915 shares of the company's stock, valued at approximately $844,801.50. The trade was a 241.14% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 23.59% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in Better Home & Finance by 3.1% in the first 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 during the period. Geode Capital Management LLC lifted its holdings in Better Home & Finance by 90.6% in the second quarter. Geode Capital Management LLC now owns 129,881 shares of the company's stock valued at $1,609,000 after buying an additional 61,740 shares during the period. Marshall Wace LLP increased its stake in Better Home & Finance by 151.6% in the second quarter. Marshall Wace LLP now owns 89,804 shares of the company's stock valued at $1,113,000 after purchasing an additional 54,113 shares in the last quarter. XTX Topco Ltd bought a new stake in Better Home & Finance in the second quarter valued at $197,000. Finally, New York State Common Retirement Fund bought a new stake in Better Home & Finance in the second quarter valued at $100,000. 20.94% of the stock is owned by institutional investors.

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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