Better Home & Finance (NASDAQ:BETR) Stock Price Down 8% – Here’s What Happened

Better Home & Finance Holding Company (NASDAQ:BETR)’s stock price dropped 8% during mid-day trading on Thursday . The stock traded as low as $36.32 and last traded at $36.7410. Approximately 247,367 shares traded hands during trading, a decline of 41% from the average daily volume of 421,815 shares. The stock had previously closed at $39.93.

Analyst Ratings Changes

BETR has been the subject of several research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Better Home & Finance in a research note on Wednesday, January 21st. Cantor Fitzgerald raised Better Home & Finance to a “strong-buy” rating in a research note on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Better Home & Finance has an average rating of “Hold” and an average target price of $40.00.

Better Home & Finance Stock Performance

The firm’s 50-day simple moving average is $32.32 and its 200 day simple moving average is $42.36. The company has a market cap of $576.82 million, a P/E ratio of -3.02 and a beta of 1.98.

Insider Buying and Selling

In related news, Director Bhaskar Menon bought 1,500 shares of Better Home & Finance stock in a transaction on Tuesday, December 30th. The shares were purchased at an average price of $33.94 per share, for a total transaction of $50,910.00. Following the completion of the acquisition, the director owned 1,500 shares in the company, valued at approximately $50,910. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Chad M. Smith sold 6,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $30.07, for a total value of $180,420.00. Following the transaction, the chief operating officer owned 15,590 shares of the company’s stock, valued at $468,791.30. The trade was a 27.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders acquired 33,098 shares of company stock valued at $1,263,599 and sold 44,392 shares valued at $1,536,398. Company insiders own 23.59% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new stake in Better Home & Finance in the third quarter valued at approximately $29,000. Russell Investments Group Ltd. acquired a new stake in Better Home & Finance in the third quarter worth $31,000. Solstein Capital LLC boosted its position in shares of Better Home & Finance by 42.6% during the third quarter. Solstein Capital LLC now owns 2,214 shares of the company’s stock worth $124,000 after purchasing an additional 661 shares in the last quarter. CWM LLC bought a new position in shares of Better Home & Finance during the third quarter worth $42,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Better Home & Finance by 15.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,729 shares of the company’s stock valued at $378,000 after buying an additional 894 shares during the period. Institutional investors 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.