Better Home & Finance (NASDAQ:BETR) Shares Down 7% - Here's What Happened

Key Points

• Shares fell 7% on Wednesday to as low as $38 and last traded at $39.21, with volume of 166,397 shares—about 65% below the average session volume.
• Analyst opinions are mixed—one "strong-buy" and one "hold" upgrade versus a "sell" from Weiss—giving an average rating of "Hold" and an average price target of $40.00.
• Insiders have been net buyers, purchasing about 268,893 shares worth $8.6 million in the last quarter (including CTO and director purchases), and now own roughly 23.59% of the company.

Better Home & Finance Holding Company (NASDAQ:BETR - Get Free Report) fell 7% during trading on Wednesday . The stock traded as low as $38.00 and last traded at $39.2070. 166,397 shares traded hands during trading, a decline of 65% from the average session volume of 480,717 shares. The stock had previously closed at $42.18.

Analyst Ratings Changes

Several equities analysts recently issued reports on BETR shares. Cantor Fitzgerald upgraded shares of Better Home & Finance to a "strong-buy" rating in a research note on Tuesday, January 27th. Wall Street Zen upgraded shares of Better Home & Finance from a "sell" rating to a "hold" rating in a research note on Saturday, April 11th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Better Home & Finance in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $40.00.

Better Home & Finance Stock Performance

The firm's 50 day moving average is $34.98 and its 200-day moving average is $41.65. The stock has a market capitalization of $644.68 million, a price-to-earnings ratio of -3.61 and a beta of 1.91.

Insider Activity at Better Home & Finance

In related news, CTO Jonsson Sigurgeir Orn purchased 1,000 shares of the business's stock in a transaction that occurred on Wednesday, April 8th. The stock was bought at an average price of $36.09 per share, with a total value of $36,090.00. Following the acquisition, the chief technology officer owned 3,497 shares in the company, valued at $126,206.73. The trade was a 40.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harit Talwar purchased 5,000 shares of the business's stock in a transaction that occurred on Thursday, April 9th. The stock was bought at an average cost of $32.89 per share, with a total value of $164,450.00. Following the acquisition, the director owned 36,698 shares in the company, valued at $1,206,997.22. This represents a 15.77% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 268,893 shares of company stock worth $8,603,664 and sold 24,112 shares worth $695,807. 23.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Better Home & Finance

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. purchased a new stake in Better Home & Finance in the 2nd quarter worth $29,000. FNY Investment Advisers LLC purchased a new stake in Better Home & Finance in the 3rd quarter worth $29,000. Russell Investments Group Ltd. purchased a new stake in Better Home & Finance in the 3rd quarter worth $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Better Home & Finance in the 2nd quarter worth $33,000. Finally, CWM LLC purchased a new stake in Better Home & Finance in the 3rd quarter worth $42,000. Hedge funds and other institutional investors own 20.94% of the company's stock.

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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