Pacer Advisors Inc. Sells 4,206,528 Shares of Exp World Holdings, Inc. (NASDAQ:EXPI)

Key Points

• Pacer Advisors Inc. significantly reduced its investment in Exp World Holdings, selling 4,206,528 shares, which represents a 79.7% reduction in their holdings during the 1st quarter.
• Despite the decrease in Pacer Advisors' shareholding, other institutional investors like Avantax Advisory Services and MIRAE ASSET GLOBAL ETFS have increased their positions, indicating ongoing interest in the company.
• Exp World reported a loss of $0.07 per share for its recent quarter, missing analysts' expectations and reflecting a negative net margin of 0.36% while achieving revenue of $954.91 million.

Pacer Advisors Inc. decreased its stake in Exp World Holdings, Inc. (NASDAQ:EXPI - Free Report) by 79.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,072,927 shares of the technology company's stock after selling 4,206,528 shares during the quarter. Pacer Advisors Inc. owned approximately 0.71% of Exp World worth $10,493,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in Exp World by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 12,235,835 shares of the technology company's stock worth $140,834,000 after buying an additional 208,920 shares during the period. Geode Capital Management LLC grew its holdings in Exp World by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,219,658 shares of the technology company's stock worth $25,553,000 after acquiring an additional 8,486 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Exp World by 2.0% in the 4th quarter. Renaissance Technologies LLC now owns 2,024,116 shares of the technology company's stock valued at $23,298,000 after buying an additional 40,400 shares in the last quarter. Northern Trust Corp boosted its stake in Exp World by 8.2% during the 4th quarter. Northern Trust Corp now owns 1,154,661 shares of the technology company's stock worth $13,290,000 after purchasing an additional 87,966 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Exp World by 39.7% during the 4th quarter. JPMorgan Chase & Co. now owns 727,096 shares of the technology company's stock worth $8,369,000 after buying an additional 206,677 shares during the last quarter. Institutional investors and hedge funds own 27.17% of the company's stock.

Insider Transactions at Exp World

In related news, Director Randall D. Miles sold 10,000 shares of the stock in a transaction dated Tuesday, June 10th. The shares were 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 in the company, valued at $4,915,288.50. This represents a 1.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Glenn Darrel Sanford sold 25,000 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $7.99, for a total transaction of $199,750.00. Following the transaction, the chief executive officer 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. Insiders sold a total of 85,000 shares of company stock valued at $710,000 in the last quarter. 27.96% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Exp World Price Performance

EXPI stock traded up $0.06 during midday trading on Thursday, reaching $10.90. 351,642 shares of the company's stock traded hands, compared to its average volume of 1,157,129. The company has a market capitalization of $1.70 billion, a P/E ratio of -99.21 and a beta of 2.52. Exp World Holdings, Inc. has a fifty-two week low of $6.90 and a fifty-two week high of $15.39. The business has a 50-day moving average price of $9.40 and a two-hundred day moving average price of $9.68.

Exp World (NASDAQ:EXPI - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.12). The business had revenue of $954.91 million for the quarter, compared to analyst estimates of $994.83 million. Exp World had a negative net margin of 0.36% and a positive return on equity of 1.85%. The company's quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm earned ($0.02) earnings per share. As a group, research analysts forecast that Exp World Holdings, Inc. will post 0.48 earnings per share for the current fiscal year.

Exp World Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Monday, May 19th were given a $0.05 dividend. The ex-dividend date was Monday, May 19th. This represents a $0.20 dividend on an annualized basis and a yield of 1.84%. Exp World's dividend payout ratio is presently -181.82%.

Exp World Profile

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.