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

Key Points

• Gap down / heavy decline: BETR gapped down pre-market (prior close $42.69, opened $34.26) and was last trading around $31.87, down roughly 28.0%.
• Mixed analyst views but positive average: Four analysts span from Sell to Strong Buy, giving an average rating of “Moderate Buy” and an average price target of $46.50 (Needham’s PT is $53).
• Significant insider buying: CEO Vishal Garg bought 10,600 shares at $29.49 (a 33.7% increase in his stake); insiders have net purchased ~268,893 shares (~$8.6M) vs. sold ~21,015 shares (~$612k) in the last 90 days, owning about 23.6% of the stock.

Better Home & Finance Holding Company (NASDAQ:BETR - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $42.69, but opened at $34.26. Better Home & Finance shares last traded at $31.8690, with a volume of 502,295 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BETR. Wall Street Zen upgraded shares of Better Home & Finance from a "sell" rating to a "hold" rating in a research report on Saturday, April 11th. Cantor Fitzgerald raised Better Home & Finance to a "strong-buy" rating in a research report on Tuesday, January 27th. Needham & Company LLC initiated coverage on Better Home & Finance in a report on Monday. They set a "buy" rating and a $53.00 price target on the stock. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Better Home & Finance in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Better Home & Finance has an average rating of "Moderate Buy" and an average price target of $46.50.

Better Home & Finance Stock Down 28.0%

The stock has a market capitalization of $505.51 million, a PE ratio of -2.84 and a beta of 1.83. The stock's 50-day moving average is $35.90 and its 200 day moving average is $41.28.

Insider Activity

In other Better Home & Finance news, CEO Vishal Garg acquired 10,600 shares of the business's stock in a transaction that occurred on Monday, March 23rd. The shares were purchased at an average price of $29.49 per share, with a total value of $312,594.00. Following the completion of the transaction, the chief executive officer owned 42,060 shares in the company, valued at $1,240,349.40. The trade was a 33.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Paula Tuffin sold 8,018 shares of the firm's stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $28.67, for a total transaction of $229,876.06. Following the transaction, the general counsel owned 42,487 shares in the company, valued at $1,218,102.29. This represents a 15.88% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have purchased 268,893 shares of company stock worth $8,603,664 and have sold 21,015 shares worth $612,002. 23.59% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Better Home & Finance

Several institutional investors have recently bought and sold shares of BETR. JPMorgan Chase & Co. acquired a new stake in shares of Better Home & Finance in the second quarter worth about $29,000. FNY Investment Advisers LLC bought a new position in shares of Better Home & Finance in the 3rd quarter valued at approximately $29,000. Russell Investments Group Ltd. acquired a new stake in Better Home & Finance in the 3rd quarter worth approximately $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Better Home & Finance during the second quarter valued at approximately $33,000. Finally, CWM LLC acquired a new stake in shares of Better Home & Finance in the third quarter worth $42,000. 20.94% of the stock is currently owned by institutional investors.

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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