Better Home & Finance (NASDAQ:BETR) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Better Home & Finance (NASDAQ:BETR) from a sell rating to a strong sell rating in a report released on Saturday morning.

BETR has been the topic of several other research reports. BTIG Research began coverage on Better Home & Finance in a research note on Tuesday, June 16th. They issued a “buy” rating and a $36.00 price objective on the stock. Roth Capital initiated coverage on Better Home & Finance in a research report on Monday, June 15th. They issued a “buy” rating and a $35.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $35.00 target price on shares of Better Home & Finance in a research note on Friday. Canaccord Genuity Group assumed coverage on Better Home & Finance in a research report on Thursday, June 18th. They set a “buy” rating and a $42.00 price target on the stock. Finally, Zacks Research upgraded Better Home & Finance to a “hold” rating in a research note on Wednesday, July 29th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.33.

Better Home & Finance Stock Up 16.2%

BETR opened at $27.30 on Friday. Better Home & Finance has a twelve month low of $12.74 and a twelve month high of $94.06. The company’s 50-day moving average price is $25.76 and its two-hundred day moving average price is $30.47. The stock has a market cap of $515.15 million, a price-to-earnings ratio of -2.32 and a beta of 1.74.

Insider Buying and Selling at Better Home & Finance

In related news, Director Hugh R. Frater purchased 5,150 shares of Better Home & Finance stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $24.34 per share, for a total transaction of $125,351.00. Following the completion of the transaction, the director owned 6,326 shares in the company, valued at $153,974.84. This trade represents a 437.93% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Vishal Garg purchased 15,600 shares of Better Home & Finance stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $25.00 per share, with a total value of $390,000.00. Following the completion of the transaction, the chief executive officer owned 118,260 shares of the company’s stock, valued at $2,956,500. This represents a 15.20% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 51,433 shares of company stock valued at $1,334,148 over the last 90 days. 27.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BETR. Goldman Sachs Group Inc. grew its holdings in Better Home & Finance by 3.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 293,858 shares of the company’s stock valued at $3,207,000 after buying an additional 8,924 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Better Home & Finance by 90.6% in the second quarter. Geode Capital Management LLC now owns 129,881 shares of the company’s stock valued at $1,609,000 after acquiring an additional 61,740 shares during the period. JPMorgan Chase & Co. bought a new position in shares of Better Home & Finance in the second quarter valued at approximately $29,000. XTX Topco Ltd purchased a new position in Better Home & Finance during the second quarter valued at approximately $197,000. Finally, New York State Common Retirement Fund purchased a new position in Better Home & Finance during the second quarter valued at approximately $100,000. 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.