Wedge Capital Management L L P NC Buys Shares of 96,046 Expro Group Holdings N.V. $XPRO

Key Points

• Wedge Capital Management initiated a position in Expro Group by purchasing 96,046 shares worth approximately $1.42 million, while institutional investors collectively own 92.07% of the company.
• Analyst sentiment remains mixed, with Expro Group receiving a consensus “Hold” rating and an average price target of $18.00; individual ratings range from strong sell to strong buy.
• Expro reported quarterly EPS of $0.15, below the $0.17 consensus estimate, while revenue of $393.18 million exceeded expectations but declined 7% year over year.

Wedge Capital Management L L P NC bought a new position in Expro Group Holdings N.V. (NYSE:XPRO - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 96,046 shares of the company's stock, valued at approximately $1,419,000. Wedge Capital Management L L P NC owned approximately 0.08% of Expro Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of XPRO. AQR Capital Management LLC grew its position in shares of Expro Group by 47.3% in the 1st quarter. AQR Capital Management LLC now owns 161,099 shares of the company's stock worth $1,601,000 after buying an additional 51,727 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Expro Group by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,285 shares of the company's stock worth $559,000 after purchasing an additional 2,463 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Expro Group by 47.8% during the first quarter. Goldman Sachs Group Inc. now owns 903,612 shares of the company's stock worth $8,982,000 after purchasing an additional 292,198 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Expro Group by 17.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 282,788 shares of the company's stock valued at $2,811,000 after purchasing an additional 42,203 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Expro Group by 732.6% during the 1st quarter. Jane Street Group LLC now owns 421,163 shares of the company's stock valued at $4,186,000 after purchasing an additional 370,579 shares during the last quarter. 92.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Expro Group

In related news, Director Eileen Goss Whelley sold 6,168 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $15.14, for a total value of $93,383.52. Following the transaction, the director directly owned 47,648 shares of the company's stock, valued at approximately $721,390.72. This trade represents a 11.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on XPRO shares. Weiss Ratings raised Expro Group from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, July 29th. Freedom Capital upgraded Expro Group from a "strong sell" rating to a "hold" rating in a research note on Monday, May 18th. KeyCorp upgraded Expro Group to a "neutral" rating in a research note on Thursday, June 4th. The Goldman Sachs Group set a $19.00 price target on Expro Group in a report on Thursday, June 4th. Finally, Zacks Research upgraded Expro Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Expro Group has a consensus rating of "Hold" and an average price target of $18.00.

Expro Group Stock Up 0.4%

NYSE:XPRO opened at $18.73 on Friday. The firm has a market capitalization of $2.10 billion, a P/E ratio of 104.03 and a beta of 0.90. Expro Group Holdings N.V. has a 1-year low of $10.50 and a 1-year high of $19.05. The company's fifty day moving average price is $15.65 and its 200-day moving average price is $16.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.13 and a quick ratio of 1.76.

Expro Group (NYSE:XPRO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.02). The company had revenue of $393.18 million for the quarter, compared to analysts' expectations of $387.36 million. Expro Group had a net margin of 1.33% and a return on equity of 3.27%. The firm's revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 earnings per share. As a group, equities research analysts anticipate that Expro Group Holdings N.V. will post 0.53 EPS for the current year.

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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