Better Home & Finance (NASDAQ:BETR) Stock Price Up 10.5% After Insider Buying Activity

Better Home & Finance Holding Company (NASDAQ:BETR) shares rose 10.5% on Friday after an insider bought additional shares in the company. The company traded as high as $27.74 and last traded at $26.6250. Approximately 108,657 shares changed hands during trading, a decline of 78% from the average daily volume of 483,816 shares. The stock had previously closed at $24.10.

Specifically, Director Hugh R. Frater purchased 5,150 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were purchased at an average cost of $24.34 per share, with a total value of $125,351.00. Following the completion of the transaction, the director owned 6,326 shares of the company’s stock, valued at $153,974.84. The trade was a 437.93% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analyst Weigh In

Several research firms have commented on BETR. Wall Street Zen downgraded shares of Better Home & Finance from a “sell” rating to a “strong sell” rating in a report on Sunday, May 17th. Needham & Company LLC began coverage on shares of Better Home & Finance in a report on Monday, May 4th. They issued a “buy” rating and a $53.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Better Home & Finance in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $46.50.

Better Home & Finance Stock Up 8.9%

The stock has a market capitalization of $495.24 million, a price-to-earnings ratio of -2.23 and a beta of 1.69. The company’s fifty day simple moving average is $33.15 and its 200 day simple moving average is $34.31.

Hedge Funds Weigh In On Better Home & Finance

Several institutional investors and hedge funds have recently modified their holdings of the stock. Stoic Point Capital Management LLC acquired a new position in shares of Better Home & Finance in the first quarter valued at $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 valued at $97,000 after acquiring an additional 2,528 shares in the last quarter. Quantinno Capital Management LP acquired a new position in shares of Better Home & Finance in the first quarter valued at about $505,000. Walleye Capital LLC acquired a new position in shares of Better Home & Finance in the first quarter valued at about $262,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Better Home & Finance by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 13,890 shares of the company’s stock valued at $495,000 after acquiring an additional 548 shares in the last quarter. 20.94% of the stock is currently owned by institutional investors and hedge funds.

Better Home & Finance Company Profile

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.