Better Home & Finance (NASDAQ:BETR) Sets New 12-Month High - Here's Why

Key Points

• Better Home & Finance (NASDAQ:BETR) shares hit a new 12-month high at $33.89, reflecting strong market performance with a trading volume of 47,887 shares.
• Wall Street Zen upgraded their rating for Better Home & Finance from "sell" to "hold" on September 13th, indicating a more favorable outlook for the stock.
• Insiders, including CAO J. Calamari Nicholas, have recently sold shares, with a significant ownership reduction of 57% reported after a sale on September 4th, raising concerns about insider confidence in the stock.

Better Home & Finance Holding Company (NASDAQ:BETR - Get Free Report) shares hit a new 52-week high on Friday . The stock traded as high as $33.89 and last traded at $33.77, with a volume of 47887 shares trading hands. The stock had previously closed at $32.02.

Wall Street Analyst Weigh In

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

Better Home & Finance Trading Up 6.5%

The firm has a 50-day simple moving average of $18.58 and a two-hundred day simple moving average of $14.77.

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

Insider Activity

In related news, CAO J. Calamari Nicholas sold 12,527 shares of the business's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $21.86, for a total value of $273,840.22. Following the completion of the sale, the chief accounting officer directly owned 9,451 shares in the company, valued at approximately $206,598.86. The trade was a 57.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 23.59% of the company's stock.

Hedge Funds Weigh In On Better Home & Finance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. bought a new stake in shares of Better Home & Finance during the 2nd quarter valued at $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Better Home & Finance in the second quarter valued at about $33,000. BNP Paribas Financial Markets bought a new stake in Better Home & Finance during the second quarter worth about $72,000. Bank of America Corp DE lifted its position in Better Home & Finance by 87.6% during the second quarter. Bank of America Corp DE now owns 13,871 shares of the company's stock worth $172,000 after purchasing an additional 6,479 shares during the period. Finally, New York State Common Retirement Fund acquired a new stake in Better Home & Finance during the second quarter worth about $100,000. 20.94% of the stock is 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.