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

Better Home & Finance Holding Company (NASDAQ:BETR)’s share price traded down 8% during trading on Wednesday . The stock traded as low as $50.60 and last traded at $50.2260. 97,776 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 293,080 shares. The stock had previously closed at $54.57.

Wall Street Analyst Weigh In

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

Better Home & Finance Price Performance

The company has a market capitalization of $765.50 million, a price-to-earnings ratio of -4.09 and a beta of 1.92. The business has a fifty day moving average price of $57.47 and a 200 day moving average price of $29.86.

Better Home & Finance (NASDAQ:BETR) last announced its earnings results on Thursday, November 13th. The company reported ($2.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.05) by ($0.09).

Insider Activity at Better Home & Finance

In other Better Home & Finance news, major shareholder Pbra, Llc sold 995,660 shares of Better Home & Finance stock in a transaction on 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 link. Also, CAO J. Calamari Nicholas sold 12,528 shares of Better Home & Finance stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $59.28, for a total transaction of $742,659.84. Following the sale, the chief accounting officer owned 11,341 shares in the company, valued at approximately $672,294.48. This trade represents a 52.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,030,497 shares of company stock valued at $51,504,973. Insiders own 23.59% of the company’s stock.

Institutional Trading of Better Home & Finance

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. acquired a new position in Better Home & Finance during the second quarter worth $29,000. Russell Investments Group Ltd. bought a new stake in shares of Better Home & Finance in the 3rd quarter worth about $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Better Home & Finance during the 2nd quarter worth about $33,000. CWM LLC acquired a new stake in shares of Better Home & Finance during the 3rd quarter worth about $42,000. Finally, BNP Paribas Financial Markets bought a new position in Better Home & Finance during the 2nd quarter valued at about $72,000. 20.94% of the stock is currently owned by institutional investors.

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.