eXp World (NASDAQ:EXPI) Stock Price Up 9.6% on Earnings Beat

eXp World Holdings, Inc. (NASDAQ:EXPI - Get Free Report)'s stock price rose 9.6% during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $11.50 and last traded at $11.12. Approximately 283,190 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 1,077,778 shares. The stock had previously closed at $10.15.

The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.01. eXp World had a positive return on equity of 0.09% and a negative net margin of 0.21%. The business had revenue of $943.10 million during the quarter, compared to analyst estimates of $893.24 million. During the same quarter in the previous year, the business earned $0.01 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year.

eXp World Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.20 annualized dividend and a dividend yield of 1.78%. eXp World's dividend payout ratio (DPR) is presently -333.33%.

Analyst Upgrades and Downgrades

EXPI has been the subject of several recent analyst reports. DA Davidson restated an "underperform" rating and set a $11.75 target price on shares of eXp World in a research report on Thursday. TheStreet lowered eXp World from a "c-" rating to a "d" rating in a report on Monday, March 4th.

Institutional Trading of eXp World

A number of large investors have recently modified their holdings of EXPI. SG Americas Securities LLC boosted its holdings in shares of eXp World by 312.3% in the third quarter. SG Americas Securities LLC now owns 50,414 shares of the technology company's stock valued at $819,000 after purchasing an additional 38,187 shares during the period. Exchange Traded Concepts LLC raised its stake in eXp World by 28.9% in the third quarter. Exchange Traded Concepts LLC now owns 5,154 shares of the technology company's stock worth $84,000 after buying an additional 1,156 shares in the last quarter. Raymond James & Associates raised its stake in eXp World by 5.1% in the third quarter. Raymond James & Associates now owns 67,517 shares of the technology company's stock worth $1,096,000 after buying an additional 3,292 shares in the last quarter. New York State Teachers Retirement System raised its stake in eXp World by 138.6% in the third quarter. New York State Teachers Retirement System now owns 71,672 shares of the technology company's stock worth $1,164,000 after buying an additional 41,633 shares in the last quarter. Finally, Everhart Financial Group Inc. raised its stake in eXp World by 10.0% in the third quarter. Everhart Financial Group Inc. now owns 49,086 shares of the technology company's stock worth $797,000 after buying an additional 4,472 shares in the last quarter. Hedge funds and other institutional investors own 27.17% of the company's stock.

eXp World Stock Up 10.8 %

The company has a market cap of $1.71 billion, a P/E ratio of -187.50 and a beta of 2.29. The business's 50 day moving average is $10.71 and its 200 day moving average is $12.52.

eXp World Company 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.