Better Home & Finance (NASDAQ:BETR) Shares Gap Down – Here’s What Happened

Better Home & Finance Holding Company (NASDAQ:BETR)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $44.84, but opened at $36.03. Better Home & Finance shares last traded at $34.0940, with a volume of 908,726 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BETR shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Better Home & Finance in a report on Wednesday, January 21st. Cantor Fitzgerald upgraded shares of Better Home & Finance to a “strong-buy” rating in a research report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $40.00.

Better Home & Finance Trading Up 3.3%

The stock’s 50-day moving average price is $31.93 and its 200-day moving average price is $43.53. The company has a market capitalization of $547.77 million, a P/E ratio of -3.06 and a beta of 1.91.

Insider Activity

In related news, CEO Vishal Garg purchased 10,600 shares of Better Home & Finance stock in a transaction dated Monday, March 23rd. The stock was bought at an average cost of $29.49 per share, with a total value of $312,594.00. Following the purchase, the chief executive officer owned 42,060 shares in the company, valued at approximately $1,240,349.40. The trade was a 33.69% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ventures Iv L.P. Framework purchased 53,000 shares of the firm’s stock in a transaction on Thursday, March 19th. The shares were purchased at an average cost of $28.48 per share, with a total value of $1,509,440.00. Following the completion of the purchase, the insider owned 912,312 shares in the company, valued at $25,982,645.76. This represents a 6.17% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 214,509 shares of company stock valued at $6,811,168 and have sold 38,112 shares valued at $1,224,407. Corporate insiders own 23.59% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BETR. FNY Investment Advisers LLC acquired a new stake in shares of Better Home & Finance during the 3rd quarter valued at $29,000. JPMorgan Chase & Co. purchased a new stake in shares of Better Home & Finance during the second quarter valued at $29,000. Russell Investments Group Ltd. acquired a new position in shares of Better Home & Finance in the 3rd quarter valued at $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Better Home & Finance in the 2nd quarter worth about $33,000. Finally, CWM LLC acquired a new stake in Better Home & Finance during the 3rd quarter worth about $42,000. Institutional investors and hedge funds own 20.94% of the company’s stock.

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.