Better Home & Finance (NASDAQ:BETR) Shares Gap Up – Here’s What Happened

Better Home & Finance Holding Company (NASDAQ:BETR) gapped up before the market opened on Monday . The stock had previously closed at $53.02, but opened at $56.72. Better Home & Finance shares last traded at $63.22, with a volume of 683,489 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Better Home & Finance from a “sell” rating to a “hold” rating in a report on Saturday, September 13th.

Better Home & Finance Trading Up 14.1%

The firm has a market capitalization of $925.20 million, a P/E ratio of -4.58 and a beta of 1.57. The business has a 50-day moving average of $23.12 and a 200 day moving average of $16.47.

Better Home & Finance (NASDAQ:BETR) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($1.99) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.27) by $0.28. The business had revenue of $44.14 million during the quarter, compared to the consensus estimate of $44.14 million. Better Home & Finance had a negative return on equity of 1,105.80% and a negative net margin of 153.25%.

Insider Buying and Selling

In related news, CAO J. Calamari Nicholas sold 12,527 shares of Better Home & Finance stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $21.86, for a total value of $273,840.22. Following the sale, the chief accounting officer owned 9,451 shares of the company’s stock, valued at approximately $206,598.86. The trade was a 57.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Pbra, Llc sold 995,660 shares of the business’s 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 disclosure for this sale can be found here. Insiders sold a total of 1,013,079 shares of company stock worth $50,472,434 in the last 90 days. Company insiders own 23.59% of the company’s stock.

Institutional Investors Weigh In On Better Home & Finance

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Gratia Capital LLC bought a new stake in Better Home & Finance during the 2nd quarter valued at $1,797,000. BNP Paribas Financial Markets bought a new position in shares of Better Home & Finance in the second quarter worth $72,000. Bank of America Corp DE grew its position in Better Home & Finance by 87.6% in the second quarter. Bank of America Corp DE now owns 13,871 shares of the company’s stock worth $172,000 after acquiring an additional 6,479 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Better Home & Finance in the second quarter worth $33,000. Finally, Marshall Wace LLP boosted its position in Better Home & Finance by 151.6% during the second quarter. Marshall Wace LLP now owns 89,804 shares of the company’s stock valued at $1,113,000 after buying an additional 54,113 shares during the period. 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.