Better Home & Finance (NASDAQ:BETR) Stock Price Down 5.3% - Here's Why

Key Points

• Better Home & Finance's stock price decreased by 5.3% to $53.81 after trading as low as $53.50, with trading volume significantly increasing to 519,340 shares.
• Analysts upgraded the stock from a "sell" rating to a "hold" rating, which reflects a more positive outlook for Better Home & Finance.
• Insider activity included significant sales, with a CAO selling over 12,500 shares and a major shareholder selling nearly 1 million shares recently.

Better Home & Finance Holding Company (NASDAQ:BETR - Get Free Report) traded down 5.3% on Thursday . The company traded as low as $53.50 and last traded at $53.81. 519,340 shares changed hands during mid-day trading, an increase of 166% from the average session volume of 195,384 shares. The stock had previously closed at $56.83.

Analysts Set New Price Targets

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

Better Home & Finance Trading Down 0.8%

The stock's 50 day moving average price is $25.70 and its 200 day moving average price is $17.34. The company has a market capitalization of $861.74 million, a price-to-earnings ratio of -4.27 and a beta of 1.89.

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

Insider Activity

In related news, CAO J. Calamari Nicholas sold 12,527 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $21.86, for a total value of $273,840.22. Following the completion of the sale, the chief accounting officer directly owned 9,451 shares in the company, valued at approximately $206,598.86. This trade represents a 57.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $50,091,654.60. The disclosure for this sale can be found here. Insiders sold a total of 1,013,079 shares of company stock valued at $50,472,434 over the last quarter. 23.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large 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 valued at approximately $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Better Home & Finance in the second quarter valued at approximately $33,000. BNP Paribas Financial Markets acquired a new stake in shares of Better Home & Finance in the second quarter valued at approximately $72,000. New York State Common Retirement Fund acquired a new stake in shares of Better Home & Finance in the second quarter valued at approximately $100,000. Finally, Bank of America Corp DE raised its position in shares of Better Home & Finance by 87.6% in the second quarter. Bank of America Corp DE now owns 13,871 shares of the company's stock valued at $172,000 after buying an additional 6,479 shares in the last quarter. 20.94% of the stock is 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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