Exp World (NASDAQ:EXPI) Posts Earnings Results, Misses Estimates By $0.13 EPS

Key Points

• Exp World (NASDAQ:EXPI) reported a quarterly loss of ($0.01) EPS, missing the consensus estimate by $0.13.
• The company's revenue was $1.31 billion, slightly exceeding analysts' expectations of $1.30 billion, with a 1.0% year-over-year increase.
• Shares of Exp World fell 12.6% following the earnings announcement, trading at $9.42 on Friday, with a market cap of $1.47 billion.

Exp World (NASDAQ:EXPI - Get Free Report) released its quarterly earnings data on Thursday. The technology company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.13), Zacks reports. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Exp World had a negative net margin of 0.68% and a negative return on equity of 4.79%. During the same period in the previous year, the company posted $0.08 EPS. The company's quarterly revenue was up 1.0% compared to the same quarter last year.

Exp World Price Performance

EXPI stock traded down $0.02 during midday trading on Wednesday, reaching $10.24. The company had a trading volume of 219,578 shares, compared to its average volume of 1,169,385. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -51.43 and a beta of 2.52. The stock has a 50 day moving average price of $9.60 and a 200-day moving average price of $9.64. Exp World has a 1-year low of $6.90 and a 1-year high of $15.39.

Exp World Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 15th. Exp World's payout ratio is -100.00%.

Insider Transactions at Exp World

In related news, Director Randall D. Miles sold 10,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $9.15, for a total value of $91,500.00. Following the completion of the transaction, the director owned 537,190 shares of the company's stock, valued at $4,915,288.50. The trade was a 1.83% 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. Also, CEO Glenn Darrel Sanford sold 25,000 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $7.99, for a total value of $199,750.00. Following the completion of the transaction, the chief executive officer directly owned 39,628,400 shares of the company's stock, valued at approximately $316,630,916. This trade represents a 0.06% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,000 shares of company stock valued at $486,500. 27.96% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EXPI. Geneos Wealth Management Inc. lifted its holdings in shares of Exp World by 41.2% in the first quarter. Geneos Wealth Management Inc. now owns 6,365 shares of the technology company's stock worth $62,000 after acquiring an additional 1,856 shares during the last quarter. Strs Ohio bought a new position in shares of Exp World in the first quarter worth about $148,000. AQR Capital Management LLC bought a new position in shares of Exp World in the first quarter worth about $180,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Exp World by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,677 shares of the technology company's stock worth $476,000 after acquiring an additional 2,042 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Exp World by 9.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 202,623 shares of the technology company's stock worth $1,982,000 after acquiring an additional 18,138 shares during the last quarter. Institutional investors and hedge funds own 27.17% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson set a $12.00 price target on Exp World and gave the company a "buy" rating in a report on Friday, July 11th.

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.