Better Home & Finance (NASDAQ:BETR) Upgraded by Wall Street Zen to Hold Rating

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 released on Saturday morning.

Better Home & Finance Stock Performance

Shares of Better Home & Finance stock traded up $3.77 on Friday, reaching $32.02. 270,571 shares of the company's stock were exchanged, compared to its average volume of 73,457. Better Home & Finance has a 52 week low of $7.71 and a 52 week high of $33.00. The firm's 50-day moving average is $18.17 and its two-hundred day moving average is $14.55. The company has a market capitalization of $489.59 million, a P/E ratio of -2.42 and a beta of 1.58.

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

Insider Activity

In related news, CAO J. Calamari Nicholas sold 12,527 shares of the 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 transaction, the chief accounting officer directly owned 9,451 shares in the company, valued at $206,598.86. This trade 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. 23.59% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Better Home & Finance

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

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.