Better Home & Finance (NASDAQ:BETR) Trading 9.6% Higher on Insider Buying Activity

Key Points

• Shares rose about 9.6% intraday after insider buying: CEO Vishal Garg bought 10,600 shares at $29.49 (raising his stake 33.7% to 42,060 shares) and major shareholder Ventures IV L.P. Framework bought 40,000 shares (and earlier 53,000 shares) in separate transactions.
• Analyst coverage is mixed — the consensus rating is Hold (one Strong Buy, one Hold, one Sell) with an average price target of $40.00.
• Better Home & Finance has a market cap of about $518.3M, a negative trailing P/E (-2.91), and its 50-day/200-day moving averages are $31.25 and $43.04, indicating the stock is trading below longer-term levels.

Better Home & Finance Holding Company (NASDAQ:BETR - Get Free Report)'s share price was up 9.6% during mid-day trading on Wednesday following insider buying activity. The company traded as high as $31.51 and last traded at $31.34. Approximately 238,999 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 429,108 shares. The stock had previously closed at $28.59.

Specifically, CEO Vishal Garg purchased 10,600 shares of Better Home & Finance stock in a transaction dated Monday, March 23rd. The shares were bought at an average cost of $29.49 per share, with a total value of $312,594.00. Following the completion of the transaction, the chief executive officer directly owned 42,060 shares in the company, valued at $1,240,349.40. This trade represents a 33.69% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ventures Iv L.P. Framework acquired 40,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was purchased at an average price of $29.60 per share, with a total value of $1,184,000.00. Following the transaction, the insider owned 952,312 shares in the company, valued at $28,188,435.20. This represents a 4.38% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In other Better Home & Finance news, major shareholder Ventures Iv L.P. Framework acquired 53,000 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The shares were acquired at an average price of $28.48 per share, with a total value of $1,509,440.00. Following the purchase, the insider owned 912,312 shares of the company's stock, valued at $25,982,645.76. This represents a 6.17% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BETR shares. Weiss Ratings reissued a "sell (e+)" rating on shares of Better Home & Finance in a research note on Wednesday, January 21st. Cantor Fitzgerald raised Better Home & Finance to a "strong-buy" rating in a research report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $40.00.

Better Home & Finance Stock Up 10.2%

The firm has a market capitalization of $518.32 million, a price-to-earnings ratio of -2.91 and a beta of 1.98. The business's fifty day moving average is $31.25 and its 200 day moving average is $43.04.

Institutional Trading of Better Home & Finance

Several hedge funds and other institutional investors have recently modified their holdings of BETR. Gratia Capital LLC acquired a new position in shares of Better Home & Finance during the second quarter worth about $1,797,000. Quadrature Capital Ltd acquired a new stake in Better Home & Finance in the 2nd quarter valued at approximately $173,000. Penserra Capital Management LLC bought a new stake in Better Home & Finance in the 3rd quarter valued at approximately $1,647,000. Jump Financial LLC bought a new stake in Better Home & Finance in the 4th quarter valued at approximately $2,457,000. Finally, Goldman Sachs Group Inc. boosted its position in Better Home & Finance by 1,465.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 73,685 shares of the company's stock worth $2,401,000 after acquiring an additional 68,977 shares during the last quarter. Institutional investors and hedge funds 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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