Better Home & Finance (NASDAQ:BETR) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Better Home & Finance from “strong sell” to “sell,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $28.17.
• Analysts have recently revised their ratings and targets in mixed directions, including Cantor Fitzgerald cutting its target to $16 and Needham reducing its target to $25 while maintaining a buy rating.
• BETR opened at $13.73, near its 52-week low of $13.46 and well below its 52-week high of $94.06. Insiders purchased 41,350 shares worth about $1.03 million over the past three months, and insiders own 27.72% of the company.

Better Home & Finance (NASDAQ:BETR - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a note issued to investors on Saturday.

Several other research firms have also issued reports on BETR. Cantor Fitzgerald lowered shares of Better Home & Finance from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $32.00 to $16.00 in a research report on Thursday. Needham & Company LLC lowered their price objective on Better Home & Finance from $35.00 to $25.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. Northland Securities raised Better Home & Finance from a "market perform" rating to an "outperform" rating and set a $38.00 target price for the company in a report on Thursday, July 9th. BTIG Research cut their target price on Better Home & Finance from $36.00 to $23.00 and set a "buy" rating for the company in a research report on Monday, August 10th. Finally, Roth Capital set a $25.00 price target on Better Home & Finance in a research note on Thursday. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $28.17.

Better Home & Finance Stock Performance

Shares of BETR stock opened at $13.73 on Friday. The firm has a fifty day moving average of $23.70 and a 200-day moving average of $29.37. The stock has a market cap of $259.09 million, a price-to-earnings ratio of -1.25 and a beta of 1.73. Better Home & Finance has a 52-week low of $13.46 and a 52-week high of $94.06.

Insiders Place Their Bets

In related news, CEO Vishal Garg bought 15,600 shares of Better Home & Finance stock in a transaction dated Wednesday, May 20th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $390,000.00. Following the completion of the transaction, the chief executive officer owned 118,260 shares of the company's stock, valued at approximately $2,956,500. This trade represents a 15.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Hugh R. Frater purchased 5,150 shares of the firm's stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $24.34 per share, for a total transaction of $125,351.00. Following the completion of the purchase, the director directly owned 6,326 shares of the company's stock, valued at $153,974.84. The trade was a 437.93% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 41,350 shares of company stock valued at $1,030,023. Insiders own 27.72% of the company's stock.

Institutional Investors Weigh In On Better Home & Finance

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Jump Financial LLC acquired a new position in shares of Better Home & Finance during the fourth quarter valued at $2,457,000. Goldman Sachs Group Inc. increased its position in Better Home & Finance by 1,465.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 73,685 shares of the company's stock worth $2,401,000 after purchasing an additional 68,977 shares during the period. Geode Capital Management LLC raised its holdings in Better Home & Finance by 90.6% during the 2nd quarter. Geode Capital Management LLC now owns 129,881 shares of the company's stock worth $1,609,000 after purchasing an additional 61,740 shares during the last quarter. Comerica Bank bought a new stake in Better Home & Finance during the 4th quarter worth about $1,819,000. Finally, Marshall Wace LLP raised its stake in shares of Better Home & Finance by 151.6% during the second quarter. Marshall Wace LLP now owns 89,804 shares of the company's stock worth $1,113,000 after buying an additional 54,113 shares during the last quarter. Institutional investors own 20.94% of the company's stock.

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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