Stock Traders Purchase High Volume of Call Options on Better Home & Finance (NASDAQ:BETR)

Better Home & Finance Holding Company (NASDAQ:BETR) saw some unusual options trading on Friday. Stock traders acquired 2,171 call options on the stock. This is an increase of 219% compared to the typical volume of 681 call options.

Analyst Ratings Changes

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

Insider Transactions at Better Home & Finance

In other news, insider Chad M. Smith sold 3,307 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $21,755.05. This trade represents a 66.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Hugh R. Frater acquired 5,150 shares of the stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $24.34 per share, with a total value of $125,351.00. Following the purchase, the director owned 6,326 shares of the company’s stock, valued at approximately $153,974.84. This trade represents a 437.93% increase in their position. The SEC filing for this purchase provides additional information. 27.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Better Home & Finance

A number of institutional investors and hedge funds have recently modified their holdings of BETR. Russell Investments Group Ltd. purchased a new position in Better Home & Finance in the third quarter valued at $31,000. Activest Wealth Management purchased a new stake in Better Home & Finance during the 4th quarter worth about $59,000. JPMorgan Chase & Co. acquired a new position in shares of Better Home & Finance during the 2nd quarter worth about $29,000. New York State Common Retirement Fund boosted its position in shares of Better Home & Finance by 257.1% during the 4th quarter. New York State Common Retirement Fund now owns 2,500 shares of the company’s stock worth $81,000 after acquiring an additional 1,800 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Better Home & Finance in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 20.94% of the company’s stock.

Better Home & Finance Stock Down 5.1%

Shares of NASDAQ:BETR opened at $13.85 on Friday. Better Home & Finance has a fifty-two week low of $11.11 and a fifty-two week high of $94.06. The firm’s 50 day moving average price is $20.93 and its 200 day moving average price is $28.27. The stock has a market cap of $263.15 million, a price-to-earnings ratio of -1.26 and a beta of 1.73.

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

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.