Better Home & Finance (NASDAQ:BETR) Shares Down 12.1% – Here’s What Happened

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

Wall Street Analyst Weigh In

Several analysts have weighed in on BETR shares. Northland Securities initiated coverage on Better Home & Finance in a research note on Monday, October 6th. They set a “market perform” rating on the stock. Northland Capmk raised Better Home & Finance to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Better Home & Finance in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Better Home & Finance from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Two 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 an average rating of “Reduce”.

Better Home & Finance Price Performance

The business has a fifty day simple moving average of $51.84 and a 200 day simple moving average of $27.21. The firm has a market cap of $859.75 million, a price-to-earnings ratio of -4.24 and a beta of 1.92.

Better Home & Finance (NASDAQ:BETR) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($1.99) EPS for the quarter, beating the consensus estimate of ($2.27) by $0.28. The firm had revenue of $44.14 million during the quarter, compared to analyst estimates of $44.14 million.

Insider Transactions at Better Home & Finance

In other Better Home & Finance news, 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 value of $742,659.84. Following the transaction, the chief accounting officer directly owned 11,341 shares of the company’s stock, valued at $672,294.48. This trade represents a 52.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Pbra, Llc sold 995,660 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $50.31, for a total value of $50,091,654.60. The SEC filing for this sale provides additional information. Insiders have sold 1,030,497 shares of company stock worth $51,504,973 over the last 90 days. 23.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Better Home & Finance

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC purchased a new stake in Better Home & Finance in the 3rd quarter valued at $42,000. JPMorgan Chase & Co. acquired a new position in shares of Better Home & Finance during the 2nd quarter valued at about $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Better Home & Finance during the 2nd quarter valued at about $33,000. BNP Paribas Financial Markets purchased a new stake in shares of Better Home & Finance in the second quarter valued at about $72,000. Finally, Rhumbline Advisers increased its position in Better Home & Finance by 17.8% during the third quarter. Rhumbline Advisers now owns 6,044 shares of the company’s stock worth $339,000 after purchasing an additional 914 shares during the last quarter. 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.