Better Home & Finance (NASDAQ:BETR) Shares Gap Down After Insider Selling

Better Home & Finance Holding Company (NASDAQ:BETR) gapped down prior to trading on Thursday after an insider sold shares in the company. The stock had previously closed at $67.01, but opened at $61.50. Better Home & Finance shares last traded at $59.22, with a volume of 304,685 shares.

Specifically, major shareholder Pbra, Llc sold 995,660 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $50.31, for a total transaction of $50,091,654.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analyst Ratings Changes

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

Better Home & Finance Stock Performance

The company has a market capitalization of $855.78 million, a price-to-earnings ratio of -4.24 and a beta of 1.58. The firm has a 50-day simple moving average of $22.32 and a two-hundred day simple moving average of $16.09.

Better Home & Finance (NASDAQ:BETR) last released its earnings results on Wednesday, August 13th. The company reported ($1.99) earnings per share for the quarter, beating the consensus estimate of ($2.27) by $0.28. The company 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%.

Hedge Funds Weigh In On Better Home & Finance

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its position in shares of Better Home & Finance by 3.1% during the first quarter. Goldman Sachs Group Inc. now owns 293,858 shares of the company’s stock worth $3,207,000 after buying an additional 8,924 shares in the last quarter. Gratia Capital LLC acquired a new position in shares of Better Home & Finance during the second quarter worth about $1,797,000. Geode Capital Management LLC grew its position in shares of Better Home & Finance by 90.6% during the second quarter. Geode Capital Management LLC now owns 129,881 shares of the company’s stock worth $1,609,000 after buying an additional 61,740 shares in the last quarter. Marshall Wace LLP grew its position in shares of Better Home & Finance by 151.6% during 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 in the last quarter. Finally, Daymark Wealth Partners LLC acquired a new position in shares of Better Home & Finance during the second quarter worth about $293,000. 20.94% of the stock is owned by institutional investors and hedge funds.

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.