Better Home & Finance (NASDAQ:BETR) Shares Down 5.3% - Time to Sell?

Key Points

• Better Home & Finance's shares fell by 5.3%, trading around $53.00, with a significant increase in trading volume at approximately 834,021 shares compared to an average of 171,996 shares.
• Wall Street analysts upgraded the stock from a "sell" to a "hold" rating, suggesting potential growth despite recent performance.
• Insider selling was notable, with major shareholder Pbra, LLC offloading 995,660 shares valued at over $50 million, as insiders collectively sold over 1 million shares last quarter.

Shares of Better Home & Finance Holding Company (NASDAQ:BETR - Get Free Report) were down 5.3% during mid-day trading on Friday . The company traded as low as $52.13 and last traded at $53.00. Approximately 834,021 shares traded hands during trading, an increase of 385% from the average daily volume of 171,996 shares. The stock had previously closed at $55.97.

Wall Street Analysts Forecast Growth

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

Better Home & Finance Stock Performance

The company has a market cap of $810.68 million, a price-to-earnings ratio of -4.01 and a beta of 1.58. The stock's fifty day moving average is $22.32 and its two-hundred day moving average is $16.09.

Better Home & Finance (NASDAQ:BETR - Get Free Report) last posted 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. Better Home & Finance had a negative net margin of 153.25% and a negative return on equity of 1,105.80%. The company had revenue of $44.14 million for the quarter, compared to analyst estimates of $44.14 million.

Insider Activity

In other Better Home & Finance news, major shareholder Pbra, Llc sold 995,660 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $50.31, for a total value of $50,091,654.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO J. Calamari Nicholas sold 12,527 shares of the stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $21.86, for a total transaction of $273,840.22. Following the completion of the sale, the chief accounting officer owned 9,451 shares of the company's stock, valued at approximately $206,598.86. This trade represents a 57.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,013,079 shares of company stock valued at $50,472,434. Company insiders own 23.59% of the company's stock.

Institutional Investors Weigh In On Better Home & Finance

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased 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 during the last quarter. Geode Capital Management LLC increased its stake in shares of 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 purchasing an additional 61,740 shares during the last quarter. Marshall Wace LLP increased its stake in shares of 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 purchasing an additional 54,113 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Better Home & Finance during the 2nd quarter worth approximately $197,000. Finally, Bank of America Corp DE increased its stake in shares of 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 purchasing an additional 6,479 shares during the last quarter. Hedge funds and other institutional investors 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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