Exp World (NASDAQ:AGNT) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded eXp World Holdings from “Buy” to “Hold.” The broader analyst consensus is also “Hold,” with an average price target of $5.38.
• AGNT shares opened at $3.83, near their 52-week low of $3.40, and have declined 2.0%. The company’s latest quarterly earnings missed estimates, reporting a loss of $0.02 per share versus expectations for $0.08 in earnings.
• A major shareholder sold 8.69 million shares worth approximately $32.0 million, reducing its stake by 32.52%. Insiders own 26.59% of the company, while institutional investors own 27.17%.

Exp World (NASDAQ:AGNT - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other analysts have also commented on AGNT. Zacks Research raised Exp World from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 23rd. Citizens Jmp initiated coverage on shares of Exp World in a research report on Wednesday. They set a "market outperform" rating and a $6.00 price objective on the stock. Benchmark decreased their price objective on shares of Exp World from $8.00 to $6.00 and set a "buy" rating for the company in a report on Wednesday, August 5th. Weiss Ratings cut shares of Exp World from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, September 25th. Finally, DA Davidson cut their target price on shares of Exp World from $6.50 to $4.75 and set a "neutral" rating on the stock in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $5.38.

Exp World Trading Down 2.0%

NASDAQ AGNT opened at $3.83 on Friday. Exp World has a fifty-two week low of $3.40 and a fifty-two week high of $12.23. The stock has a 50 day simple moving average of $3.99 and a two-hundred day simple moving average of $4.77.

Exp World (NASDAQ:AGNT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The technology company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). Exp World had a negative return on equity of 5.43% and a negative net margin of 0.35%. The business had revenue of $1.45 billion during the quarter. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, sell-side analysts expect that Exp World will post 0.15 earnings per share for the current year.

Insider Activity at Exp World

In other news, major shareholder Gratitude 2022 Trust U/A/D 8/2 sold 8,693,290 shares of the business's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $3.68, for a total value of $31,991,307.20. Following the completion of the transaction, the insider owned 18,037,824 shares in the company, valued at $66,379,192.32. The trade was a 32.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 26.59% of the company's stock.

Institutional Investors Weigh In On Exp World

Several large investors have recently bought and sold shares of AGNT. OP Asset Management Ltd bought a new position in Exp World during the 1st quarter valued at about $2,451,000. SEB Asset Management AB bought a new position in Exp World during the first quarter valued at approximately $587,000. Citizens Financial Group Inc. RI bought a new position in Exp World during the second quarter valued at approximately $279,000. Louisiana State Employees Retirement System bought a new position in Exp World during the first quarter valued at approximately $241,000. Finally, Cim Investment Management Inc. purchased a new stake in Exp World in the second quarter worth approximately $136,000. 27.17% of the stock is currently owned by institutional investors.

Exp World Company Profile

eXp World Holdings, Inc is a cloud-based real estate services and technology company best known for eXp Realty, an independent residential real estate brokerage. The company provides agents with brokerage services, transaction support, training, marketing resources and collaboration tools through a technology-driven operating model designed to support a geographically distributed workforce.

Through its broader platform, eXp World Holdings has also operated businesses focused on real estate education, media and digital collaboration.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.