Better Home & Finance (NASDAQ:BETR) Shares Down 8% – What’s Next?

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on BETR. Weiss Ratings reissued a “sell (e+)” rating on shares of Better Home & Finance in a research note on Wednesday, January 21st. Cantor Fitzgerald upgraded Better Home & Finance to a “strong-buy” rating in a report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $40.00.

Better Home & Finance Stock Performance

The stock has a market cap of $576.82 million, a price-to-earnings ratio of -3.02 and a beta of 1.98. The business has a 50-day simple moving average of $32.32 and a two-hundred day simple moving average of $42.36.

Insider Activity

In related news, General Counsel Paula Tuffin sold 8,018 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $28.67, for a total transaction of $229,876.06. Following the completion of the transaction, the general counsel directly owned 42,487 shares of the company’s stock, valued at approximately $1,218,102.29. This represents a 15.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Chad M. Smith sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $30.07, for a total value of $180,420.00. Following the completion of the transaction, the chief operating officer owned 15,590 shares of the company’s stock, valued at approximately $468,791.30. This represents a 27.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders purchased 33,098 shares of company stock worth $1,263,599 and sold 44,392 shares worth $1,536,398. 23.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Better Home & Finance

A number of institutional investors and hedge funds have recently made changes to their positions in BETR. Vanguard Group Inc. boosted its holdings in shares of Better Home & Finance by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 398,903 shares of the company’s stock valued at $22,394,000 after buying an additional 6,374 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Better Home & Finance by 3.1% during the first quarter. Goldman Sachs Group Inc. now owns 293,858 shares of the company’s stock worth $3,207,000 after buying an additional 8,924 shares during the last quarter. Geode Capital Management LLC raised its position in Better Home & Finance by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 151,187 shares of the company’s stock worth $4,927,000 after acquiring an additional 11,922 shares in the last quarter. Gratia Capital LLC acquired a new stake in Better Home & Finance in the second quarter valued at $1,797,000. Finally, State Street Corp lifted its stake in Better Home & Finance by 14.2% in the fourth quarter. State Street Corp now owns 116,597 shares of the company’s stock valued at $3,799,000 after acquiring an additional 14,540 shares during the last quarter. Institutional investors 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.