Better Home & Finance Target of Unusually Large Options Trading (NASDAQ:BETR)

Better Home & Finance Holding Company (NASDAQ:BETR) was the target of unusually large options trading on Friday. Investors acquired 2,171 call options on the stock. This represents an increase of 219% compared to the average daily volume of 681 call options.

Insider Activity

In other Better Home & Finance news, Director Hugh R. Frater acquired 5,150 shares of Better Home & Finance stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $24.34 per share, with a total value of $125,351.00. Following the completion of the purchase, the director directly owned 6,326 shares of the company’s stock, valued at $153,974.84. This represents a 437.93% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Chad M. Smith sold 3,307 shares of Better Home & Finance stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $12.85, for a total value of $42,494.95. Following the completion of the transaction, the insider owned 1,693 shares in the company, valued at approximately $21,755.05. This represents a 66.14% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 27.72% of the company’s stock.

Institutional Investors Weigh In On Better Home & Finance

Institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its stake in shares of Better Home & Finance by 4,324.3% during the second quarter. California State Teachers Retirement System now owns 243,513 shares of the company’s stock valued at $6,697,000 after acquiring an additional 238,009 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Better Home & Finance in the second quarter worth $518,000. Stoic Point Capital Management LLC bought a new stake in shares of Better Home & Finance in the first quarter worth $467,000. Royal Bank of Canada grew its stake in shares of Better Home & Finance by 1,264.0% in the first quarter. Royal Bank of Canada now owns 2,728 shares of the company’s stock worth $97,000 after purchasing an additional 2,528 shares during the last quarter. Finally, Quantinno Capital Management LP bought a new position in Better Home & Finance during the 1st quarter worth $505,000. 20.94% of the stock is owned by institutional investors.

Better Home & Finance Trading Down 2.0%

BETR traded down $0.29 on Friday, reaching $14.30. The stock had a trading volume of 188,922 shares, compared to its average volume of 503,503. The company has a market capitalization of $271.69 million, a price-to-earnings ratio of -1.30 and a beta of 1.73. Better Home & Finance has a fifty-two week low of $11.11 and a fifty-two week high of $94.06. The firm has a 50-day moving average of $21.22 and a 200-day moving average of $28.37.

Better Home & Finance (NASDAQ:BETR) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($1.64) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.23). The firm had revenue of $54.70 million for the quarter. Better Home & Finance had a negative net margin of 94.52% and a negative return on equity of 409.62%. Sell-side analysts anticipate that Better Home & Finance will post -6.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BETR shares. Cantor Fitzgerald lowered shares of Better Home & Finance from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $32.00 to $16.00 in a report on Thursday, August 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Better Home & Finance in a research note on Friday, July 17th. BTIG Research cut their target price on shares of Better Home & Finance from $36.00 to $23.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Wall Street Zen upgraded shares of Better Home & Finance from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $42.00 target price on shares of Better Home & Finance in a research note on Tuesday, August 4th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Better Home & Finance currently has a consensus rating of “Moderate Buy” and an average target price of $28.17.

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.