Better Home & Finance (NASDAQ:BETR) Stock Price Down 8.1% – Here’s What Happened

Shares of Better Home & Finance Holding Company (NASDAQ:BETR) traded down 8.1% during mid-day trading on Wednesday . The company traded as low as $35.69 and last traded at $35.7490. 242,232 shares changed hands during mid-day trading, a decline of 22% from the average session volume of 309,258 shares. The stock had previously closed at $38.88.

Wall Street Analysts Forecast Growth

BETR has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Better Home & Finance in a research report on Wednesday, October 8th. Northland Securities began coverage on Better Home & Finance in a research report on Monday, October 6th. They set a “market perform” rating on the stock. Wall Street Zen lowered Better Home & Finance from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Finally, Northland Capmk raised shares of Better Home & Finance to a “hold” rating in a research report on Monday, October 6th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce”.

Better Home & Finance Trading Down 8.2%

The stock has a market cap of $560.07 million, a P/E ratio of -2.93 and a beta of 1.95. The firm’s fifty day moving average is $57.31 and its 200 day moving average is $34.39.

Insider Transactions at Better Home & Finance

In related news, major shareholder Pbra, Llc sold 995,660 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $50.31, for a total value of $50,091,654.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Chad M. Smith sold 6,000 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were 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 $1,116,843.20. This represents a 17.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,029,456 shares of company stock valued at $51,852,913 in the last ninety days. 23.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Better Home & Finance

Several large investors have recently bought and sold shares of BETR. FNY Investment Advisers LLC acquired a new position in Better Home & Finance during the third quarter valued at approximately $29,000. Russell Investments Group Ltd. bought a new stake in Better Home & Finance during the third quarter worth $31,000. CWM LLC bought a new position in shares of Better Home & Finance in the 3rd quarter valued at $42,000. Solstein Capital LLC boosted its holdings in shares of Better Home & Finance by 42.6% during the 3rd quarter. Solstein Capital LLC now owns 2,214 shares of the company’s stock valued at $124,000 after acquiring an additional 661 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in Better Home & Finance during the 2nd quarter worth $29,000. Institutional investors 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.