Exp World (NASDAQ:EXPI) Issues Quarterly 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) posted its earnings results on Thursday. The technology company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.13), Zacks reports. Exp World had a negative return on equity of 4.84% and a negative net margin of 0.68%. The business had revenue of $1.31 billion for the quarter, compared to analysts' expectations of $1.30 billion. During the same quarter in the previous year, the firm earned $0.08 earnings per share. Exp World's quarterly revenue was up 1.0% compared to the same quarter last year.

Exp World Stock Down 12.6%

Shares of NASDAQ EXPI traded down $1.36 during midday trading on Friday, reaching $9.42. The company had a trading volume of 2,347,720 shares, compared to its average volume of 1,001,899. Exp World has a one year low of $6.90 and a one year high of $15.39. The firm's fifty day moving average price is $9.50 and its 200-day moving average price is $9.67. The stock has a market cap of $1.47 billion, a PE ratio of -47.10 and a beta of 2.52.

Exp World Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders 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 dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, August 15th. Exp World's payout ratio is -181.82%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Exp World news, Director Randall D. Miles sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $9.15, for a total transaction 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. This represents a 1.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Glenn Darrel Sanford sold 25,000 shares of the company's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $7.99, for a total value of $199,750.00. Following the transaction, the chief executive officer directly owned 39,628,400 shares of the company's stock, valued at $316,630,916. The trade was a 0.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,000 shares of company stock valued at $710,000 in the last ninety days. 27.96% of the stock is currently owned by corporate insiders.

Institutional Trading of Exp World

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

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.

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