Exp World (NASDAQ:AGNT) Reaches New 52-Week Low - Here's What Happened

Key Points

• Exp World shares fell to a new 52-week low of $3.60, closing near $3.62 and below both their 50-day ($4.17) and 200-day ($5.06) moving averages.
• Analyst sentiment is weak: the stock has an average “Reduce” rating and a $5.17 target price, while recent firms lowered targets and Zacks Research downgraded it to “strong sell.”
• The company missed quarterly earnings expectations, reporting a loss of $0.02 per share versus the expected $0.08 profit, although revenue rose 10.7% year over year to $1.45 billion. A major shareholder also sold 8.7 million shares, reducing its position by 32.5%.

Shares of Exp World Holdings, Inc. (NASDAQ:AGNT - Get Free Report) hit a new 52-week low on Wednesday . The company traded as low as $3.60 and last traded at $3.62, with a volume of 543047 shares. The stock had previously closed at $3.83.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AGNT. Zacks Research downgraded shares of Exp World from a "hold" rating to a "strong sell" rating in a report on Thursday, August 6th. Benchmark cut their price target on shares of Exp World from $8.00 to $6.00 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. Weiss Ratings raised shares of Exp World from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, September 9th. Finally, DA Davidson dropped their price objective on shares of Exp World from $6.50 to $4.75 and set a "neutral" rating on the stock in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $5.17.

Exp World Price Performance

The firm's fifty day simple moving average is $4.17 and its 200 day simple moving average is $5.06. The company has a market capitalization of $588.27 million, a PE ratio of -32.55 and a beta of 2.05.

Exp World (NASDAQ:AGNT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The technology company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). Exp World had a negative return on equity of 5.43% and a negative net margin of 0.35%.The firm had revenue of $1.45 billion during the quarter. Exp World's quarterly revenue was up 10.7% on a year-over-year basis. On average, equities research analysts anticipate that Exp World Holdings, Inc. will post -0.07 EPS for the current fiscal year.

Exp World Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.05 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.6%. Exp World's payout ratio is -181.82%.

Insider Buying and Selling at Exp World

In other news, major shareholder Gratitude 2022 Trust U/A/D 8/2 sold 8,693,290 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $3.68, for a total transaction of $31,991,307.20. Following the transaction, the insider owned 18,037,824 shares in the company, valued at $66,379,192.32. This trade represents a 32.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 26.59% of the stock is currently owned by insiders.

Institutional Trading of Exp World

Several institutional investors have recently modified their holdings of AGNT. Root Financial Partners LLC purchased a new stake in Exp World during the 4th quarter worth approximately $25,000. Philadelphia Investment Partners LLC purchased a new position in shares of Exp World in the second quarter valued at approximately $46,000. Commonwealth Financial Services LLC purchased a new position in shares of Exp World in the first quarter valued at approximately $111,000. Fifth Third Bancorp increased its position in shares of Exp World by 2,697.1% during the first quarter. Fifth Third Bancorp now owns 21,454 shares of the technology company's stock worth $129,000 after purchasing an additional 20,687 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Exp World by 8.9% in the 4th quarter. Handelsbanken Fonder AB now owns 32,900 shares of the technology company's stock valued at $298,000 after purchasing an additional 2,700 shares during the last quarter. Institutional investors and hedge funds own 27.17% of the company's stock.

Exp World Company Profile

eXp World Holdings, Inc is a cloud-based real estate services company best known for operating eXp Realty, a residential real estate brokerage. Through its virtual business model, eXp Realty provides real estate professionals with brokerage support, training, collaboration tools and technology designed to help agents serve buyers and sellers.

The company also operates eXp Commercial, which focuses on commercial real estate services. Its broader technology platform has included virtual collaboration and workplace solutions intended to support distributed organizations and real estate professionals.

eXp World Holdings was founded in 2002 by Glenn Sanford, who serves as its chairman and chief executive officer.

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