Whetstone Capital Advisors LLC Buys New Position in Better Home & Finance Holding Company $BETR

Key Points

• Whetstone Capital Advisors acquired 253,987 shares of Better Home & Finance, worth approximately $6.99 million, giving it a 1.34% stake and making BETR its 13th-largest portfolio holding.
• Analyst sentiment remains generally positive, with eight Buy ratings, two Holds, and one Sell; however, Cantor Fitzgerald downgraded the stock to Neutral and cut its price target to $16. The consensus target is $27.86.
• Better Home & Finance reported a quarterly loss of $1.64 per share, missing estimates of $1.41, alongside a $54.7 million revenue result and sharply negative profitability metrics. The stock opened at $13.46, well below its 52-week high of $94.06.

Whetstone Capital Advisors LLC purchased a new position in Better Home & Finance Holding Company (NASDAQ:BETR - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 253,987 shares of the company's stock, valued at approximately $6,985,000. Better Home & Finance accounts for about 1.8% of Whetstone Capital Advisors LLC's portfolio, making the stock its 13th largest position. Whetstone Capital Advisors LLC owned 1.34% of Better Home & Finance as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. purchased a new stake in Better Home & Finance in the second quarter worth about $29,000. Russell Investments Group Ltd. purchased a new position in Better Home & Finance during the third quarter valued at approximately $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Better Home & Finance in the second quarter worth approximately $33,000. BNP Paribas Financial Markets purchased a new stake in shares of Better Home & Finance in the second quarter worth $72,000. Finally, New York State Common Retirement Fund raised its position in shares of Better Home & Finance by 257.1% during the 4th quarter. New York State Common Retirement Fund now owns 2,500 shares of the company's stock valued at $81,000 after purchasing an additional 1,800 shares during the period. 20.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Cantor Fitzgerald downgraded shares of Better Home & Finance from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $32.00 to $16.00 in a report on Thursday, August 13th. CLSA upgraded Better Home & Finance to a "buy" rating in a research report on Wednesday. Wall Street Zen raised Better Home & Finance from a "strong sell" rating to a "sell" rating in a report on Saturday, August 15th. B Riley started coverage on shares of Better Home & Finance in a research report on Wednesday. They set a "buy" rating on the stock. Finally, Roth Capital set a $25.00 target price on shares of Better Home & Finance in a research report on Thursday, August 13th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Better Home & Finance currently has an average rating of "Moderate Buy" and an average price target of $27.86.

Insider Buying and Selling

In other Better Home & Finance news, insider Chad Smith sold 3,307 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $12.85, for a total transaction of $42,494.95. Following the completion of the transaction, the insider owned 1,693 shares in the company, valued at $21,755.05. This trade represents a 66.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 27.72% of the stock is owned by company insiders.

Better Home & Finance Price Performance

NASDAQ:BETR opened at $13.46 on Thursday. The company has a market cap of $255.74 million, a price-to-earnings ratio of -1.22 and a beta of 1.68. Better Home & Finance Holding Company has a 1 year low of $11.11 and a 1 year high of $94.06. The stock's 50 day simple moving average is $18.81 and its two-hundred day simple moving average is $27.31.

Better Home & Finance (NASDAQ:BETR - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($1.64) EPS for the quarter, missing analysts' consensus estimates of ($1.41) by ($0.23). Better Home & Finance had a negative net margin of 94.52% and a negative return on equity of 409.62%. The firm had revenue of $54.70 million for the quarter. As a group, analysts anticipate that Better Home & Finance Holding Company will post -6.56 EPS for the current year.

Better Home & Finance 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.

Want to see what other hedge funds are holding BETR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Better Home & Finance Holding Company (NASDAQ:BETR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.