Wall Street Zen Upgrades Better Home & Finance (NASDAQ:BETR) to "Hold"

Key Points

• Wall Street Zen has upgraded Better Home & Finance (NASDAQ:BETR) from a "sell" rating to a "hold" rating, signaling a more favorable outlook for the stock.
• Better Home & Finance reported a loss of $1.99 earnings per share for the recent quarter, which was better than analysts' expectations of a loss of $2.27.
• Insider trading activity included the sale of 12,527 shares by CAO J. Calamari Nicholas, reducing their holdings by 57% after selling the stock for approximately $273,840.

Wall Street Zen upgraded shares of Better Home & Finance (NASDAQ:BETR - Free Report) from a sell rating to a hold rating in a research note published on Saturday.

Better Home & Finance Price Performance

Better Home & Finance stock traded up $1.27 during midday trading on Friday, reaching $26.26. The company's stock had a trading volume of 75,373 shares, compared to its average volume of 68,960. Better Home & Finance has a fifty-two week low of $7.71 and a fifty-two week high of $26.27. The stock's 50 day simple moving average is $17.28 and its 200 day simple moving average is $14.23.

Better Home & Finance (NASDAQ:BETR - Get Free Report) last released its earnings results on Wednesday, August 13th. The company reported ($1.99) EPS for the quarter, beating analysts' consensus estimates of ($2.27) by $0.28. The company had revenue of $44.14 million during the quarter, compared to the consensus estimate of $44.14 million. Better Home & Finance had a negative return on equity of 1,105.80% and a negative net margin of 153.25%.

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 on Thursday, September 4th. The stock was sold at an average price of $21.86, for a total value of $273,840.22. Following the sale, the chief accounting officer owned 9,451 shares of the company's stock, valued at approximately $206,598.86. This represents a 57.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 23.59% of the company's stock.

Institutional Investors Weigh In On Better Home & Finance

Several hedge funds have recently made changes to their positions in BETR. Brooklyn FI LLC acquired a new stake in shares of Better Home & Finance during the fourth quarter worth $2,103,000. Goldman Sachs Group Inc. increased its holdings in shares of Better Home & Finance by 3.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 293,858 shares of the company's stock worth $3,207,000 after buying an additional 8,924 shares during the last quarter. Daymark Wealth Partners LLC acquired a new stake in shares of Better Home & Finance during the 2nd quarter worth $293,000. Geode Capital Management LLC increased its holdings in shares of 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 buying an additional 61,740 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Better Home & Finance during the 2nd quarter worth $29,000. Institutional investors and hedge funds own 20.94% of the company's stock.

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.