Better Home & Finance (NASDAQ:BETR) CTO Jonsson Sigurgeir Orn Purchases 1,000 Shares of Stock
by Michael Walen · The Markets DailyBetter Home & Finance Holding Company (NASDAQ:BETR – Get Free Report) CTO Jonsson Sigurgeir Orn purchased 1,000 shares of the stock in a transaction on Wednesday, April 8th. The shares were bought at an average cost of $36.09 per share, for a total transaction of $36,090.00. Following the transaction, the chief technology officer directly owned 3,497 shares in the company, valued at approximately $126,206.73. The trade was a 40.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Better Home & Finance Trading Down 21.9%
Shares of Better Home & Finance stock traded down $9.83 on Wednesday, reaching $35.01. 2,703,129 shares of the company were exchanged, compared to its average volume of 456,723. The company has a market capitalization of $575.91 million, a price-to-earnings ratio of -3.24 and a beta of 1.91. Better Home & Finance Holding Company has a one year low of $9.80 and a one year high of $94.06. The company has a 50-day moving average of $31.85 and a 200 day moving average of $43.67.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on BETR shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Better Home & Finance in a research report on Wednesday, January 21st. Cantor Fitzgerald raised shares of Better Home & Finance to a “strong-buy” rating in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.00.
Get Our Latest Research Report on BETR
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC bought a new stake in Better Home & Finance in the 3rd quarter valued at $29,000. JPMorgan Chase & Co. acquired a new stake in Better Home & Finance during the 2nd quarter valued at $29,000. Russell Investments Group Ltd. bought a new position in Better Home & Finance during the third quarter worth $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Better Home & Finance during the second quarter worth $33,000. Finally, CWM LLC acquired a new position in shares of Better Home & Finance in the third quarter valued at $42,000. 20.94% of the stock is owned by institutional investors and hedge funds.
Key Stories Impacting Better Home & Finance
Here are the key news stories impacting Better Home & Finance this week:
- Positive Sentiment: Q1 funded loan volume came in at $1.64 billion, exceeding prior guidance and reflecting strong originations growth and balance-sheet improvement. Q1 Funded Loan Volume Release
- Positive Sentiment: Funding capacity expanded: Better Mortgage renewed/increased a warehouse facility to $350M, bringing total warehouse capacity to ~$850M, which supports future loan funding and growth. Warehouse Capacity Article
- Positive Sentiment: Insider buying: the CEO, CFO, CTO and Chairman purchased shares on market terms, and directors (including Harit Talwar and Bhaskar Menon) added to positions — a management signal of conviction. Executive Purchases Release Director Purchase (Bhaskar Menon)
- Neutral Sentiment: Company message: management said the balance sheet is strengthened and announced strategic actions to drive profitable growth; these are positive structurally but execution-dependent. Management Statement
- Negative Sentiment: Primary near-term driver of the drop: Better priced an underwritten offering of 1,875,000 Class A shares for approximately $60M, which investors treated as dilutive and triggered selling pressure. Offering Pricing Release
- Negative Sentiment: Market reaction: coverage and trading reports note an immediate share tumble and heavy volume following the offering pricing, amplifying downside volatility. Market Reaction Article
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.