Better Home & Finance (NASDAQ:BETR) Stock Price Up 8.9% - Here's What Happened

Key Points

• Better Home & Finance's stock (NASDAQ:BETR) increased by 8.9% during mid-day trading, reaching a high of $52.52 after closing at $49.92.
• Wall Street analysts have mixed opinions on BETR, with ratings including a "hold," "sell," and an average rating of "Reduce" according to MarketBeat.
• Insiders have actively sold shares of Better Home & Finance, with over 1 million shares sold valued at more than $50 million in the last 90 days.

Better Home & Finance Holding Company (NASDAQ:BETR - Get Free Report) rose 8.9% during mid-day trading on Wednesday . The stock traded as high as $52.52 and last traded at $54.35. Approximately 91,408 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 231,646 shares. The stock had previously closed at $49.92.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BETR shares. Northland Capmk raised Better Home & Finance to a "hold" rating in a research note on Monday, October 6th. Weiss Ratings reissued a "sell (e+)" rating on shares of Better Home & Finance in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Better Home & Finance from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Northland Securities started coverage on shares of Better Home & Finance in a report on Monday, October 6th. They issued a "market perform" rating for the company. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Reduce".

Better Home & Finance Stock Up 14.3%

The firm has a market cap of $875.87 million, a PE ratio of -4.33 and a beta of 1.90. The company's 50 day moving average price is $33.53 and its two-hundred day moving average price is $20.18.

Better Home & Finance (NASDAQ:BETR - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported ($1.99) EPS for the quarter, beating analysts' consensus estimates of ($2.27) by $0.28. The business had revenue of $44.14 million for the quarter, compared to analysts' expectations of $44.14 million.

Insider Activity at Better Home & Finance

In related news, major shareholder Pbra, Llc sold 995,660 shares of the business's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $50.31, for a total value of $50,091,654.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO J. Calamari Nicholas sold 4,890 shares of the business's stock in a transaction on Monday, October 6th. The stock was sold at an average price of $59.28, for a total transaction of $289,879.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,030,497 shares of company stock valued at $51,504,973. Company insiders own 23.59% of the company's stock.

Hedge Funds Weigh In On Better Home & Finance

A number of hedge funds have recently modified their holdings of BETR. JPMorgan Chase & Co. acquired a new stake in Better Home & Finance in the second quarter valued at $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Better Home & Finance in the 2nd quarter valued at about $33,000. BNP Paribas Financial Markets purchased a new stake in Better Home & Finance in the 2nd quarter valued at about $72,000. New York State Common Retirement Fund purchased a new stake in Better Home & Finance in the 2nd quarter valued at about $100,000. Finally, Bank of America Corp DE grew its holdings 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 valued at $172,000 after buying an additional 6,479 shares during the period. 20.94% of the stock is currently owned by hedge funds and other 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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