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

Key Points

• BETR gapped down before the open, falling from a $44.84 close to a $36.03 open and last trading around $34.09 (down ~21.8%) on volume of 908,726 shares.
• Insiders bought stock: CEO Vishal Garg purchased 2,217 shares at $29.90 and Director Harit Talwar bought 5,000 shares at $35.24; insiders net bought 196,909 shares this quarter and now own 23.59% of the company.
• Analysts are mixed—one Strong Buy, one Hold and one Sell—giving a consensus rating of Hold with a $40.00 target; the company has a $577M market cap and a negative PE of -3.25 (50‑day MA $31.85 vs 200‑day MA $43.67).

Better Home & Finance Holding Company (NASDAQ:BETR - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $44.84, but opened at $36.03. Better Home & Finance shares last traded at $34.0940, with a volume of 908,726 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on BETR. Cantor Fitzgerald upgraded Better Home & Finance to a "strong-buy" rating in a research note on Tuesday, January 27th. Weiss Ratings restated a "sell (e+)" rating on shares of Better Home & Finance in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Better Home & Finance currently has an average rating of "Hold" and a consensus target price of $40.00.

Better Home & Finance Trading Down 21.8%

The stock has a market capitalization of $577.05 million, a PE ratio of -3.25 and a beta of 1.91. The firm has a 50 day moving average price of $31.85 and a 200 day moving average price of $43.67.

Insider Buying and Selling

In related news, CEO Vishal Garg acquired 2,217 shares of Better Home & Finance stock in a transaction dated Wednesday, March 25th. The stock was purchased at an average cost of $29.90 per share, for a total transaction of $66,288.30. Following the purchase, the chief executive officer directly owned 54,877 shares of the company's stock, valued at approximately $1,640,822.30. This trade represents a 4.21% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Harit Talwar acquired 5,000 shares of Better Home & Finance stock in a transaction dated Thursday, April 2nd. The stock was bought at an average price of $35.24 per share, with a total value of $176,200.00. Following the completion of the purchase, the director directly owned 30,698 shares in the company, valued at $1,081,797.52. This represents a 19.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 196,909 shares of company stock valued at $6,206,296 and have sold 38,112 shares valued at $1,224,407. Corporate insiders own 23.59% of the company's stock.

Institutional Investors Weigh In On Better Home & Finance

Institutional investors have recently bought and sold shares of the business. Gratia Capital LLC purchased a new stake in Better Home & Finance in the 2nd quarter worth $1,797,000. Penserra Capital Management LLC purchased a new stake in Better Home & Finance in the 3rd quarter worth $1,647,000. Rhumbline Advisers increased its stake in Better Home & Finance by 17.8% in the 3rd quarter. Rhumbline Advisers now owns 6,044 shares of the company's stock worth $339,000 after buying an additional 914 shares in the last quarter. XTX Topco Ltd purchased a new stake in Better Home & Finance in the 2nd quarter worth $197,000. Finally, California State Teachers Retirement System increased its stake in Better Home & Finance by 1,686.9% in the 4th quarter. California State Teachers Retirement System now owns 5,468 shares of the company's stock worth $178,000 after buying an additional 5,162 shares in 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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