Better Home & Finance (NASDAQ:BETR) Trading Up 8.3% – Should You Buy?

Better Home & Finance Holding Company (NASDAQ:BETR)’s share price shot up 8.3% on Wednesday . The stock traded as high as $29.33 and last traded at $29.7950. 23,569 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 470,507 shares. The stock had previously closed at $27.50.

Analyst Upgrades and Downgrades

BETR has been the topic of a number of research analyst reports. Roth Mkm started coverage on Better Home & Finance in a report on Monday, June 15th. They set a “buy” rating and a $35.00 target price on the stock. Needham & Company LLC initiated coverage on shares of Better Home & Finance in a report on Monday, May 4th. They issued a “buy” rating and a $53.00 price target for the company. BTIG Research assumed coverage on shares of Better Home & Finance in a research report on Tuesday, June 16th. They set a “buy” rating and a $36.00 price objective for the company. Wall Street Zen upgraded shares of Better Home & Finance from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Finally, Canaccord Genuity Group started coverage on shares of Better Home & Finance in a research note on Thursday, June 18th. They issued a “buy” rating and a $42.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.20.

Better Home & Finance Trading Down 5.3%

The firm has a market cap of $539.68 million, a price-to-earnings ratio of -2.43 and a beta of 1.71. The stock has a 50-day moving average of $29.85 and a two-hundred day moving average of $32.30.

Insider Activity at Better Home & Finance

In other news, Director Hugh R. Frater purchased 5,150 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were acquired at an average price of $24.34 per share, for a total transaction of $125,351.00. Following the completion of the acquisition, the director directly owned 6,326 shares of the company’s stock, valued at $153,974.84. The trade was a 437.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Harit Talwar purchased 5,000 shares of Better Home & Finance stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average price of $25.34 per share, with a total value of $126,700.00. Following the transaction, the director owned 44,698 shares in the company, valued at $1,132,647.32. This represents a 12.60% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 123,417 shares of company stock valued at $3,731,516. Corporate insiders own 27.72% of the company’s stock.

Hedge Funds Weigh In On Better Home & Finance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BETR. Vanguard Group Inc. raised its stake in Better Home & Finance by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 398,903 shares of the company’s stock valued at $22,394,000 after purchasing an additional 6,374 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of 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 purchasing an additional 8,924 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Better Home & Finance by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 151,187 shares of the company’s stock worth $4,927,000 after buying an additional 11,922 shares during the period. State Street Corp boosted its position in shares of Better Home & Finance by 14.2% in the fourth quarter. State Street Corp now owns 116,597 shares of the company’s stock worth $3,799,000 after buying an additional 14,540 shares during the period. Finally, Marshall Wace LLP boosted its position in shares of Better Home & Finance by 151.6% in the second quarter. Marshall Wace LLP now owns 89,804 shares of the company’s stock worth $1,113,000 after buying an additional 54,113 shares during the period. 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.