Better Home & Finance (NASDAQ:BETR) Major Shareholder Pbra, Llc Sells 995,660 Shares

Key Points

• Pbra, LLC, a major shareholder of Better Home & Finance (NASDAQ:BETR), sold 995,660 shares at an average price of $50.31, totaling over $50 million on September 22nd.
• Better Home & Finance reported a negative earnings per share of ($1.99), exceeding analysts' expectations, while achieving revenue of $44.14 million for the quarter.
• Wall Street analysts upgraded Better Home & Finance from a "sell" to a "hold" rating, indicating a shift in market sentiment towards the company.

Better Home & Finance Holding Company (NASDAQ:BETR - Get Free Report) major shareholder Pbra, Llc sold 995,660 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $50.31, for a total transaction of $50,091,654.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Better Home & Finance Stock Performance

Shares of NASDAQ:BETR traded down $0.74 on Wednesday, hitting $67.01. 2,072,135 shares of the company were exchanged, compared to its average volume of 160,734. The company's 50 day moving average price is $20.40 and its two-hundred day moving average price is $15.42. Better Home & Finance Holding Company has a one year low of $7.71 and a one year high of $94.06. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -5.07 and a beta of 1.57.

Better Home & Finance (NASDAQ:BETR - Get Free Report) last released its earnings results on Wednesday, August 13th. The company reported ($1.99) earnings per share for the quarter, topping analysts' consensus estimates of ($2.27) by $0.28. The business had revenue of $44.14 million for the quarter, compared to the consensus estimate of $44.14 million. Better Home & Finance had a negative return on equity of 1,105.80% and a negative net margin of 153.25%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Better Home & Finance from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th.

Institutional Trading of Better Home & Finance

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Gratia Capital LLC acquired a new position in Better Home & Finance during the 2nd quarter worth about $1,797,000. Geode Capital Management LLC raised its stake in shares of Better Home & Finance by 90.6% in the second quarter. Geode Capital Management LLC now owns 129,881 shares of the company's stock worth $1,609,000 after acquiring an additional 61,740 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Better Home & Finance by 151.6% in the second quarter. Marshall Wace LLP now owns 89,804 shares of the company's stock worth $1,113,000 after acquiring an additional 54,113 shares during the last quarter. Daymark Wealth Partners LLC acquired a new position in shares of Better Home & Finance during the second quarter worth approximately $293,000. Finally, XTX Topco Ltd bought a new stake in shares of Better Home & Finance during the second quarter valued at approximately $197,000. 20.94% of the stock is currently owned by institutional investors and hedge funds.

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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