Better Home & Finance (NASDAQ:BETR) Shares Gap Down After Insider Selling

Key Points

• Better Home & Finance (NASDAQ:BETR) shares fell significantly from a previous close of $67.01 to a low of $61.50 following insider selling of 995,660 shares by major shareholder Pbra, LLC.
• Despite the drop, analysts at Wall Street Zen recently upgraded the stock from a "sell" to a "hold" rating.
• For the last quarter, Better Home & Finance reported earnings of ($1.99) per share, exceeding analysts' expectations, and had a market cap of $947.98 million.

Better Home & Finance Holding Company (NASDAQ:BETR - Get Free Report) shares gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $67.01, but opened at $61.50. Better Home & Finance shares last traded at $59.22, with a volume of 304,685 shares traded.

Specifically, major shareholder Pbra, Llc sold 995,660 shares of the stock in a transaction on Monday, September 22nd. The stock was 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 available through this hyperlink.

Analysts Set New Price Targets

Separately, Wall Street Zen raised 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 firm has a market cap of $947.98 million, a P/E ratio of -4.69 and a beta of 1.58. The firm has a 50 day simple moving average of $21.47 and a 200 day simple moving average of $15.77.

Better Home & Finance (NASDAQ:BETR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($1.99) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.27) by $0.28. The firm had revenue of $44.14 million during 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%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Gratia Capital LLC purchased a new position in Better Home & Finance in the 2nd quarter worth approximately $1,797,000. BNP Paribas Financial Markets purchased a new position in Better Home & Finance in the 2nd quarter worth approximately $72,000. Bank of America Corp DE increased its stake in Better Home & Finance by 87.6% in 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Better Home & Finance in the 2nd quarter worth approximately $33,000. Finally, Marshall Wace LLP increased its stake in shares of Better Home & Finance by 151.6% during 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 during the period. 20.94% of the stock is currently owned by institutional investors.

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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