Exp World (NASDAQ:AGNT) Hits New 12-Month Low Following Weak Earnings

Key Points

• Exp World shares fell to a new 52-week low, trading as low as $3.32 after closing at $3.91 the previous session, following disappointing quarterly results.
• The company posted a loss of $0.03 per share, missing the $0.07 earnings consensus by $0.10. Revenue was $1.39 billion, up 5.8% year over year.
• Analyst sentiment is mixed, with a consensus Hold rating and a $5.38 price target. A major shareholder also sold 8.69 million shares, reducing its stake by 32.52%.

Shares of Exp World Holdings, Inc. (NASDAQ:AGNT - Get Free Report) hit a new 52-week low during mid-day trading on Friday following a weaker than expected earnings announcement. The stock traded as low as $3.32 and last traded at $3.40, with a volume of 283,332 shares changing hands. The stock had previously closed at $3.91.

The technology company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.10). The business had revenue of $1.39 billion during the quarter. Exp World had a negative return on equity of 5.43% and a negative net margin of 0.35%. The company's quarterly revenue was up 5.8% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

AGNT has been the subject of a number of recent research reports. Benchmark cut their target price on Exp World from $8.00 to $6.00 and set a "buy" rating for the company in a research note on Wednesday, August 5th. Weiss Ratings downgraded Exp World from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, September 25th. DA Davidson cut their target price on Exp World from $6.50 to $4.75 and set a "neutral" rating on the stock in a research report on Wednesday, August 5th. Zacks Research raised shares of Exp World from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 23rd. Finally, Wall Street Zen cut Exp World from a "buy" rating to a "hold" rating in a research note on Saturday, October 17th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Exp World currently has a consensus rating of "Hold" and a consensus price target of $5.38.

Insider Activity

In other news, major shareholder Gratitude 2022 Trust U/A/D 8/2 sold 8,693,290 shares of the firm's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $3.68, for a total transaction of $31,991,307.20. Following the transaction, the insider directly owned 18,037,824 shares in the company, valued at approximately $66,379,192.32. This trade represents a 32.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 26.59% of the company's stock.

Hedge Funds Weigh In On Exp World

Several institutional investors have recently added to or reduced their stakes in the stock. Philadelphia Investment Partners LLC acquired a new position in Exp World in the 2nd quarter valued at $46,000. Commonwealth Financial Services LLC purchased a new position in Exp World in the first quarter valued at about $111,000. Fifth Third Bancorp increased its holdings in Exp World by 2,697.1% in the first quarter. Fifth Third Bancorp now owns 21,454 shares of the technology company's stock valued at $129,000 after buying an additional 20,687 shares in the last quarter. Cim Investment Management Inc. acquired a new stake in shares of Exp World during the 2nd quarter valued at approximately $136,000. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Exp World during the 1st quarter valued at approximately $241,000. Institutional investors and hedge funds own 27.17% of the company's stock.

Exp World Stock Performance

The stock's 50-day moving average price is $3.88 and its 200-day moving average price is $5.35. The company has a market capitalization of $540.61 million, a price-to-earnings ratio of -29.91 and a beta of 1.94.

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. In addition, the company offers SUCCESS print magazine, SUCCESS.com portal, SUCCESS newsletters, SUCCESS podcasts, SUCCESS plus, SUCCESS speakers bureau, and SUCCESS coaching, podcasts, and digital training courses.

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