Massachusetts Financial Services Co. MA Decreases Position in Expro Group Holdings N.V. $XPRO

Key Points

• Massachusetts Financial Services Co. cut its stake in Expro Group by 8.7% in Q4, selling 266,705 shares and now holds 2,798,248 shares (about 2.46% of the company) valued at roughly $37.36 million.
• Expro reported Q4 EPS of $0.21 (in line with estimates) but revenue fell 12.5% year-over-year to $382.1 million; the stock has a $1.85 billion market cap, a P/E of 36.2 and a 52-week range of $7.57–$18.73. Analysts are mixed—consensus is a Hold with a $15.25 target, though Barclays is more bullish with an overweight rating and $21 target.

Massachusetts Financial Services Co. MA decreased its holdings in shares of Expro Group Holdings N.V. (NYSE:XPRO - Free Report) by 8.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,798,248 shares of the company's stock after selling 266,705 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.46% of Expro Group worth $37,357,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. lifted its stake in Expro Group by 10.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 34,484 shares of the company's stock worth $460,000 after purchasing an additional 3,370 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Expro Group by 9.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 44,508 shares of the company's stock worth $632,000 after purchasing an additional 3,895 shares during the last quarter. Insight Wealth Strategies LLC purchased a new stake in Expro Group during the fourth quarter worth approximately $3,571,000. CIBC Bancorp USA Inc. purchased a new stake in Expro Group in the third quarter valued at $131,000. Finally, Oberweis Asset Management Inc. purchased a new stake in Expro Group in the third quarter valued at $5,174,000. Hedge funds and other institutional investors own 92.07% of the company's stock.

Expro Group Price Performance

XPRO stock opened at $16.28 on Wednesday. The company has a market capitalization of $1.85 billion, a P/E ratio of 36.18 and a beta of 0.96. Expro Group Holdings N.V. has a twelve month low of $7.57 and a twelve month high of $18.73. The business has a 50 day simple moving average of $16.93 and a 200-day simple moving average of $15.00. The company has a current ratio of 2.16, a quick ratio of 1.79 and a debt-to-equity ratio of 0.06.

Expro Group (NYSE:XPRO - Get Free Report) last announced its earnings results on Thursday, February 19th. The company reported $0.21 EPS for the quarter, meeting analysts' consensus estimates of $0.21. Expro Group had a net margin of 3.22% and a return on equity of 5.09%. The business had revenue of $382.13 million during the quarter, compared to analysts' expectations of $413.47 million. During the same period in the prior year, the company earned $0.19 earnings per share. The business's revenue was down 12.5% compared to the same quarter last year. As a group, equities analysts anticipate that Expro Group Holdings N.V. will post 0.68 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on XPRO. Piper Sandler cut shares of Expro Group from a "neutral" rating to an "underweight" rating and set a $13.00 price target for the company. in a research report on Thursday, December 18th. Freedom Capital cut shares of Expro Group from a "hold" rating to a "strong sell" rating in a research report on Wednesday, March 4th. Weiss Ratings reissued a "hold (c)" rating on shares of Expro Group in a research report on Wednesday, January 21st. Finally, Barclays boosted their price target on shares of Expro Group from $16.00 to $21.00 and gave the company an "overweight" rating in a research report on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Expro Group has an average rating of "Hold" and a consensus target price of $15.25.

Expro Group Company Profile

Expro Group plc is a global energy services company that specializes in well flow management and well testing solutions for the oil and gas industry. The company’s core offerings include wellhead and pressure control systems, downhole well construction tools, subsea intervention services, and integrated tubular running services. These capabilities enable exploration and production companies to optimize well performance, enhance safety and mitigate operational risk throughout the drilling, completion and intervention phases of the well life cycle.

Founded in 1973, Expro has grown both organically and through targeted acquisitions to establish a presence in more than 30 countries.

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