Exp World (NASDAQ:EXPI) Issues Quarterly Earnings Results

Exp World (NASDAQ:EXPI) released its earnings results on Thursday. The technology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.06), Briefing.com reports. Exp World had a negative return on equity of 6.79% and a negative net margin of 0.41%.The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the firm posted ($0.04) EPS. Exp World’s revenue for the quarter was up 6.9% on a year-over-year basis.

Exp World Stock Performance

Shares of NASDAQ EXPI traded up $1.10 during trading on Friday, hitting $10.80. The company had a trading volume of 3,208,787 shares, compared to its average volume of 976,427. Exp World has a 52 week low of $6.90 and a 52 week high of $14.85. The business’s 50-day moving average is $10.82 and its 200 day moving average is $9.90. The company has a market cap of $1.70 billion, a P/E ratio of -89.99 and a beta of 2.04.

Exp World Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, November 17th. Exp World’s payout ratio is presently -100.00%.

Insider Buying and Selling at Exp World

In other Exp World news, Director Randall D. Miles sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $10.02, for a total value of $100,200.00. Following the completion of the transaction, the director directly owned 497,190 shares in the company, valued at $4,981,843.80. This trade represents a 1.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders sold 38,700 shares of company stock valued at $403,170. Company insiders own 27.96% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake in shares of Exp World by 73.3% in the 2nd quarter. Bank of America Corp DE now owns 3,289,449 shares of the technology company’s stock valued at $29,934,000 after buying an additional 1,391,582 shares in the last quarter. Invesco Ltd. grew its position in Exp World by 55.8% in the second quarter. Invesco Ltd. now owns 1,178,065 shares of the technology company’s stock worth $10,720,000 after acquiring an additional 421,740 shares in the last quarter. Millennium Management LLC grew its position in Exp World by 126.7% in the first quarter. Millennium Management LLC now owns 905,523 shares of the technology company’s stock worth $8,856,000 after acquiring an additional 506,121 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Exp World by 56.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 710,001 shares of the technology company’s stock worth $6,461,000 after purchasing an additional 256,095 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Exp World by 21.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 622,336 shares of the technology company’s stock valued at $6,086,000 after purchasing an additional 109,995 shares in the last quarter. Institutional investors and hedge funds own 27.17% of the company’s stock.

Analysts Set New Price Targets

EXPI has been the topic of a number of recent research reports. Zacks Research raised shares of Exp World from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 30th. DA Davidson set a $12.00 price objective on Exp World and gave the company a “buy” rating in a research report on Friday, July 11th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Exp World in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Exp World has an average rating of “Hold” and an average price target of $12.00.

About Exp World

eXp World Holdings, Inc, together with its subsidiaries, provides cloud-based real estate brokerage services for residential homeowners and homebuyers. The company operates through North American Realty, International Realty, Virbela, and Other Affiliated Services segments. It provides Virbela, a cloud-based technologies that provides data, lead generation, and marketing tools for real estate agents and employees.