Better Home & Finance (NASDAQ:BETR) Upgraded to "Hold" at Northland Capmk

Key Points

• Northland Capital Markets has upgraded Better Home & Finance (NASDAQ:BETR) to a "hold" rating, joining other analysts who have also recently adjusted their ratings on the stock.
• The company reported earnings of ($1.99) per share for the last quarter, beating the consensus estimate, while generating revenue of $44.14 million, which met analyst expectations.
• Insiders sold over 1 million shares of the company's stock in the last quarter, indicating potential concerns about the company's performance as they reduced their holdings significantly.

Better Home & Finance (NASDAQ:BETR - Get Free Report) was upgraded by equities researchers at Northland Capmk to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities analysts have also commented on BETR. Wall Street Zen raised shares of Better Home & Finance from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Weiss Ratings restated a "sell (e+)" rating on shares of Better Home & Finance in a research report on Saturday, September 27th. Finally, Northland Securities initiated coverage on Better Home & Finance in a research note on Monday. They set 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 company's stock. According to MarketBeat.com, the company has a consensus rating of "Reduce".

Better Home & Finance Price Performance

Better Home & Finance stock opened at $57.81 on Monday. The firm has a market cap of $887.38 million, a PE ratio of -4.38 and a beta of 1.90. The stock's fifty day moving average price is $28.36 and its two-hundred day moving average price is $18.38. Better Home & Finance has a one year low of $7.71 and a one year high of $94.06.

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

Insiders Place Their Bets

In other Better Home & Finance news, CAO J. Calamari Nicholas sold 12,527 shares of the company's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $21.86, for a total value of $273,840.22. Following the completion of the transaction, the chief accounting officer owned 9,451 shares of the company's stock, valued at $206,598.86. This represents a 57.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value 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 owned by corporate insiders.

Institutional Investors Weigh In On Better Home & Finance

Several hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new position in Better Home & Finance in the 2nd quarter valued at approximately $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Better Home & Finance in the second quarter worth $33,000. BNP Paribas Financial Markets acquired a new stake in Better Home & Finance in the second quarter valued at $72,000. Bank of America Corp DE raised its position in Better Home & Finance by 87.6% during the 2nd quarter. Bank of America Corp DE now owns 13,871 shares of the company's stock worth $172,000 after purchasing an additional 6,479 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new position in Better Home & Finance during the 2nd quarter worth about $100,000. 20.94% of the stock is currently owned by institutional investors and hedge funds.

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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