Better Home & Finance (NASDAQ:BETR) Sees Large Volume Increase - Here's What Happened

Key Points

• Better Home & Finance experienced a 22% increase in trading volume, with approximately 253,530 shares changing hands, compared to the previous session's 207,105 shares.
• Analysts have mixed ratings on the stock, with Weiss Ratings maintaining a "sell" rating while Wall Street Zen upgraded it to a "hold", leading to a consensus rating of "Reduce."
• Insider activity saw significant sales, with the chief accounting officer selling 12,527 shares and a major shareholder selling nearly 1 million shares in a recent transaction.

Shares of Better Home & Finance Holding Company (NASDAQ:BETR - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 253,530 shares changed hands during trading, an increase of 22% from the previous session's volume of 207,105 shares.The stock last traded at $60.31 and had previously closed at $60.20.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BETR shares. Northland Securities assumed coverage on Better Home & Finance in a research report on Monday. They set a "market perform" rating on the stock. Weiss Ratings reiterated a "sell (e+)" rating on shares of Better Home & Finance in a research report on Saturday, September 27th. Finally, Wall Street Zen upgraded Better Home & Finance from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce".

Better Home & Finance Trading Down 4.0%

The company has a 50 day simple moving average of $27.48 and a 200-day simple moving average of $18.07. The stock has a market cap of $883.97 million, a price-to-earnings ratio of -4.38 and a beta of 1.90.

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

Insider Activity at Better Home & Finance

In other news, CAO J. Calamari Nicholas sold 12,527 shares of the company'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 transaction, the chief accounting officer owned 9,451 shares of the company's stock, valued at approximately $206,598.86. This represents a 57.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Pbra, Llc sold 995,660 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $50.31, for a total value of $50,091,654.60. The disclosure for this sale can be found here. Insiders sold 1,013,079 shares of company stock worth $50,472,434 in the last ninety days. 23.59% of the stock is owned by company insiders.

Hedge Funds Weigh In On Better Home & Finance

Several institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in shares of 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 in the last quarter. Geode Capital Management LLC raised its position 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 valued at $1,609,000 after buying an additional 61,740 shares in the last quarter. Marshall Wace LLP raised its position 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 valued at $1,113,000 after buying an additional 54,113 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Better Home & Finance in the second quarter valued at approximately $197,000. Finally, Bank of America Corp DE raised its position in shares of Better Home & Finance by 87.6% in the second quarter. Bank of America Corp DE now owns 13,871 shares of the company's stock valued at $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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