Better Home & Finance (NASDAQ:BETR) Downgraded by Wall Street Zen to Sell

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

Other equities research analysts have also recently issued reports about the company. Weiss Ratings restated a “sell (e+)” rating on shares of Better Home & Finance in a research note on Wednesday. Northland Securities initiated coverage on Better Home & Finance in a research note on Monday, October 6th. They set a “market perform” rating for the company. Finally, Northland Capmk upgraded Better Home & Finance to a “hold” rating in a research note on Monday, October 6th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce”.

Better Home & Finance Trading Down 4.6%

Shares of BETR stock opened at $56.89 on Friday. The stock has a market cap of $873.32 million, a P/E ratio of -4.31 and a beta of 1.90. The stock has a 50 day simple moving average of $32.08 and a 200 day simple moving average of $19.64. Better Home & Finance has a 1 year low of $7.71 and a 1 year high of $94.06.

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, topping the consensus estimate of ($2.27) by $0.28. The business had revenue of $44.14 million for the quarter, compared to the consensus estimate of $44.14 million.

Insiders Place Their Bets

In other news, CAO J. Calamari Nicholas sold 12,528 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $59.28, for a total value of $742,659.84. Following the completion of the transaction, the chief accounting officer directly owned 11,341 shares in the company, valued at approximately $672,294.48. This represents a 52.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Pbra, Llc sold 995,660 shares of the stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 1,030,497 shares of company stock valued at $51,504,973 over the last quarter. 23.59% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. bought a new position in shares of Better Home & Finance in the 2nd quarter valued at $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Better Home & Finance in the second quarter valued at $33,000. BNP Paribas Financial Markets acquired a new stake in Better Home & Finance in the second quarter valued at $72,000. New York State Common Retirement Fund acquired a new stake in Better Home & Finance in the second quarter valued at $100,000. Finally, Bank of America Corp DE increased its holdings 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 valued at $172,000 after purchasing an additional 6,479 shares during the period. 20.94% of the stock is currently owned by institutional investors.

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.