Bhaskar Menon Purchases 590 Shares of Better Home & Finance (NASDAQ:BETR) Stock

Key Points

• Bhaskar Menon bought 590 shares at an average price of $34.13 on April 8, increasing his stake by 39.33% to 2,090 shares (worth about $71,332) as disclosed in an SEC filing.
• BETR shares fell about 21.9% to $35.01 on heavy volume (2.43M vs. avg 450k); the company has a market cap of $575.9M, a negative P/E (-3.24), and a 52-week range of $9.80–$94.06.
• Institutional investors have been active—Goldman Sachs and Geode increased holdings and several firms (including JPMorgan) opened stakes—and analysts' consensus is an average “Hold” with a $40 price target.

Better Home & Finance Holding Company (NASDAQ:BETR - Get Free Report) Director Bhaskar Menon bought 590 shares of the stock in a transaction on Wednesday, April 8th. The shares were bought at an average price of $34.13 per share, for a total transaction of $20,136.70. Following the purchase, the director directly owned 2,090 shares in the company, valued at approximately $71,331.70. This trade represents a 39.33% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Better Home & Finance Stock Down 21.9%

BETR traded down $9.83 during midday trading on Wednesday, hitting $35.01. 2,433,182 shares of the company traded hands, compared to its average volume of 450,462. The firm has a market capitalization of $575.90 million, a PE ratio of -3.24 and a beta of 1.91. The company's 50-day moving average is $31.85 and its 200 day moving average is $43.67. Better Home & Finance Holding Company has a 52 week low of $9.80 and a 52 week high of $94.06.

Institutional Investors Weigh In On Better Home & Finance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BETR. Goldman Sachs Group Inc. increased its holdings in Better Home & Finance by 3.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 293,858 shares of the company's stock worth $3,207,000 after acquiring an additional 8,924 shares in the last quarter. Geode Capital Management LLC increased its holdings in Better Home & Finance by 90.6% in the 2nd quarter. Geode Capital Management LLC now owns 129,881 shares of the company's stock worth $1,609,000 after acquiring an additional 61,740 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in Better Home & Finance in the 2nd quarter worth approximately $29,000. XTX Topco Ltd purchased a new stake in Better Home & Finance in the 2nd quarter worth approximately $197,000. Finally, New York State Common Retirement Fund purchased a new stake in Better Home & Finance during the 2nd quarter valued at approximately $100,000. 20.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BETR has been the topic of several research analyst reports. Weiss Ratings restated a "sell (e+)" rating on shares of Better Home & Finance in a research note on Wednesday, January 21st. Cantor Fitzgerald upgraded shares of Better Home & Finance to a "strong-buy" rating in a research note on Tuesday, January 27th. One research 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, Better Home & Finance currently has an average rating of "Hold" and an average price target of $40.00.

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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