Better Home & Finance (NASDAQ:BETR) Shares Gap Down Following Weak Earnings

Shares of Better Home & Finance Holding Company (NASDAQ:BETR) gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $59.16, but opened at $53.40. Better Home & Finance shares last traded at $51.9470, with a volume of 252,121 shares traded.

The company reported ($2.14) earnings per share for the quarter, missing the consensus estimate of ($2.05) by ($0.09).

Wall Street Analyst Weigh In

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

Insider Activity

In other news, major shareholder Pbra, Llc sold 995,660 shares of the business’s stock in a transaction dated 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 filing with the SEC, which is accessible through this hyperlink. Also, CAO J. Calamari Nicholas sold 12,528 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer directly owned 11,341 shares in the company, valued at approximately $672,294.48. This trade represents a 52.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,030,497 shares of company stock worth $51,504,973 in the last ninety days. Corporate insiders own 23.59% of the company’s stock.

Institutional Trading of Better Home & Finance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in Better Home & Finance by 3.1% in the first quarter. Goldman Sachs Group Inc. now owns 293,858 shares of the company’s stock valued at $3,207,000 after acquiring an additional 8,924 shares during the last quarter. Daymark Wealth Partners LLC bought a new stake in Better Home & Finance in the second quarter worth $293,000. Geode Capital Management LLC increased its stake in shares of Better Home & Finance by 90.6% during the second quarter. Geode Capital Management LLC now owns 129,881 shares of the company’s stock valued at $1,609,000 after buying an additional 61,740 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Better Home & Finance during the second quarter valued at about $29,000. Finally, XTX Topco Ltd acquired a new position in Better Home & Finance in the 2nd quarter worth about $197,000. Institutional investors and hedge funds own 20.94% of the company’s stock.

Better Home & Finance Price Performance

The company has a market capitalization of $836.58 million, a PE ratio of -4.13 and a beta of 1.92. The business’s 50 day simple moving average is $54.96 and its 200 day simple moving average is $28.62.

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.