Northland Securities Upgrades Better Home & Finance (NASDAQ:BETR) to "Outperform"

Key Points

• Northland Securities upgraded Better Home & Finance from “market perform” to “outperform” and set a $38 price target, implying about 57% upside from the current price.
• The stock was down 13.3% in Thursday trading, opening at $24.15, with a market cap of about $455.7 million and a 52-week range of $12.57 to $94.06.
• Insider buying has been notable, with directors Hugh R. Frater and Harit Talwar purchasing shares recently; insiders have bought 105,817 shares worth about $3.13 million over the last 90 days.

Better Home & Finance (NASDAQ:BETR - Get Free Report) was upgraded by investment analysts at Northland Securities from a "market perform" rating to an "outperform" rating in a note issued to investors on Thursday, Marketbeat reports. The brokerage presently has a $38.00 target price on the stock. Northland Securities' target price points to a potential upside of 57.35% from the company's current price.

Several other equities research analysts have also recently weighed in on BETR. Wall Street Zen raised Better Home & Finance from a "strong sell" rating to a "sell" rating in a research note on Saturday, June 20th. BTIG Research initiated coverage on Better Home & Finance in a research note on Tuesday, June 16th. They issued a "buy" rating and a $36.00 price objective on the stock. Weiss Ratings reiterated a "sell (e+)" rating on shares of Better Home & Finance in a report on Monday, April 20th. Roth Capital began coverage on shares of Better Home & Finance in a research report on Monday, June 15th. They set a "buy" rating and a $35.00 target price for the company. Finally, Canaccord Genuity Group began coverage on shares of Better Home & Finance in a research report on Thursday, June 18th. They issued a "buy" rating and a $42.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Better Home & Finance currently has an average rating of "Moderate Buy" and a consensus price target of $40.67.

Better Home & Finance Stock Down 13.3%

Shares of Better Home & Finance stock opened at $24.15 on Thursday. The stock has a market cap of $455.71 million, a price-to-earnings ratio of -2.05 and a beta of 1.71. Better Home & Finance has a twelve month low of $12.57 and a twelve month high of $94.06. The company's fifty day moving average is $28.65 and its 200 day moving average is $32.03.

Insider Activity

In other Better Home & Finance news, Director Hugh R. Frater purchased 5,150 shares of Better Home & Finance stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average price of $24.34 per share, with a total value of $125,351.00. Following the transaction, the director owned 6,326 shares in the company, valued at $153,974.84. This trade represents a 437.93% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harit Talwar acquired 5,000 shares of Better Home & Finance stock in a transaction dated Friday, May 22nd. The shares were acquired at an average price of $25.34 per share, with a total value of $126,700.00. Following the completion of the acquisition, the director directly owned 44,698 shares of the company's stock, valued at approximately $1,132,647.32. The trade was a 12.60% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have acquired 105,817 shares of company stock valued at $3,126,645. Corporate insiders own 27.72% of the company's stock.

Institutional Trading of Better Home & Finance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC bought a new position in shares of Better Home & Finance in the third quarter valued at approximately $29,000. Russell Investments Group Ltd. bought a new stake in shares of Better Home & Finance in the 3rd quarter worth $31,000. Activest Wealth Management bought a new position in shares of Better Home & Finance during the fourth quarter valued at about $59,000. JPMorgan Chase & Co. bought a new position in shares of Better Home & Finance during the second quarter valued at about $29,000. Finally, New York State Common Retirement Fund boosted its holdings in Better Home & Finance by 257.1% during the fourth quarter. New York State Common Retirement Fund now owns 2,500 shares of the company's stock worth $81,000 after purchasing an additional 1,800 shares during the last quarter. 20.94% of the stock is owned by institutional investors.

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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