Better Home & Finance (NASDAQ:BETR) Trading Down 12.1% – Here’s Why

Better Home & Finance Holding Company (NASDAQ:BETR)’s stock price was down 12.1% during trading on Friday . The company traded as low as $52.38 and last traded at $53.2650. Approximately 307,631 shares changed hands during mid-day trading, an increase of 9% from the average daily volume of 281,469 shares. The stock had previously closed at $60.58.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Northland Securities initiated coverage on Better Home & Finance in a research report on Monday, October 6th. They issued a “market perform” rating on the stock. Wall Street Zen lowered shares of Better Home & Finance from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Northland Capmk raised shares of Better Home & Finance to a “hold” rating in a research report on Monday, October 6th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Better Home & Finance in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Better Home & Finance currently has a consensus rating of “Reduce”.

Better Home & Finance Price Performance

The firm has a market capitalization of $880.17 million, a price-to-earnings ratio of -4.34 and a beta of 1.92. The stock has a 50 day moving average price of $52.53 and a two-hundred day moving average price of $27.61.

Better Home & Finance (NASDAQ:BETR) last announced 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 firm had revenue of $44.14 million for the quarter, compared to analysts’ expectations of $44.14 million.

Insider Activity at Better Home & Finance

In other Better Home & Finance news, major shareholder Pbra, Llc sold 995,660 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $50.31, for a total transaction of $50,091,654.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO J. Calamari Nicholas sold 12,528 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $59.28, for a total transaction of $742,659.84. Following the completion of the transaction, the chief accounting officer directly owned 11,341 shares of the company’s stock, valued at $672,294.48. This represents a 52.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,030,497 shares of company stock valued at $51,504,973. Insiders own 23.59% of the company’s stock.

Institutional Trading of Better Home & Finance

Hedge funds have recently modified their holdings of the stock. Gratia Capital LLC purchased a new position in Better Home & Finance in the second quarter valued at $1,797,000. Geode Capital Management LLC raised its position in Better Home & Finance by 90.6% in the 2nd quarter. Geode Capital Management LLC now owns 129,881 shares of the company’s stock valued at $1,609,000 after purchasing an additional 61,740 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Better Home & Finance by 151.6% in the 2nd quarter. Marshall Wace LLP now owns 89,804 shares of the company’s stock valued at $1,113,000 after buying an additional 54,113 shares during the period. Penserra Capital Management LLC acquired a new position in shares of Better Home & Finance during the third quarter worth about $1,647,000. Finally, Daymark Wealth Partners LLC acquired a new position in shares of Better Home & Finance during the second quarter worth about $293,000. 20.94% of the stock is currently owned by institutional investors and hedge funds.

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.