Better Home & Finance (NASDAQ:BETR) Shares Up 5.1% – Here’s What Happened

Shares of Better Home & Finance Holding Company (NASDAQ:BETR) traded up 5.1% on Wednesday . The stock traded as high as $37.61 and last traded at $37.7510. 195,147 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 313,010 shares. The stock had previously closed at $35.92.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Northland Securities started coverage on Better Home & Finance in a report on Monday, October 6th. They set a “market perform” rating for the company. Wall Street Zen cut Better Home & Finance from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Northland Capmk upgraded shares of Better Home & Finance to a “hold” rating in a report on Monday, October 6th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Better Home & Finance in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce”.

Better Home & Finance Stock Performance

The stock has a 50 day moving average of $54.40 and a 200-day moving average of $35.25. The company has a market cap of $592.68 million, a PE ratio of -3.10 and a beta of 1.95.

Insider Activity

In related news, General Counsel Paula Tuffin sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $46.56, for a total value of $372,480.00. Following the sale, the general counsel owned 32,344 shares in the company, valued at $1,505,936.64. This represents a 19.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Chad M. Smith sold 6,000 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $40.48, for a total transaction of $242,880.00. Following the completion of the transaction, the chief operating officer owned 27,590 shares in the company, valued at approximately $1,116,843.20. This trade represents a 17.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 33,796 shares of company stock valued at $1,761,258. Company insiders own 23.59% of the company’s stock.

Institutional Trading of Better Home & Finance

A number of hedge funds and other institutional investors have recently made changes to their positions in BETR. FNY Investment Advisers LLC purchased a new position in shares of Better Home & Finance during the third quarter worth $29,000. Russell Investments Group Ltd. acquired a new stake in Better Home & Finance during the 3rd quarter worth about $31,000. Solstein Capital LLC grew its position in Better Home & Finance by 42.6% during the 3rd quarter. Solstein Capital LLC now owns 2,214 shares of the company’s stock worth $124,000 after purchasing an additional 661 shares during the period. CWM LLC purchased a new position in shares of Better Home & Finance during the 3rd quarter valued at about $42,000. Finally, BNP Paribas Financial Markets lifted 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 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.