Exp World (NASDAQ:AGNT) Stock Price Down 6.5% After Insider Selling

Key Points

• Exp World shares fell 6.5% to about $3.72 after major shareholder Gratitude 2022 Trust sold 8.69 million shares for approximately $32 million, reducing its ownership by 32.5%.
• Analyst sentiment is broadly negative: the stock carries a consensus “Reduce” rating and a $5.17 price target, with several firms recently lowering ratings or targets.
• The company missed quarterly earnings expectations, reporting a $0.02 loss per share versus an expected $0.08 profit, although revenue rose 10.7% year over year to $1.45 billion. It also maintains a $0.05 quarterly dividend, equating to a 5.4% yield.

Exp World Holdings, Inc. (NASDAQ:AGNT - Get Free Report)'s stock price was down 6.5% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $3.71 and last traded at $3.72. Approximately 525,149 shares changed hands during trading, a decline of 57% from the average session volume of 1,219,918 shares. The stock had previously closed at $3.98.

Specifically, major shareholder Gratitude 2022 Trust U/A/D 8/2 sold 8,693,290 shares of the firm's stock in a transaction dated 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 directly owned 18,037,824 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analysts Set New Price Targets

AGNT has been the subject of a number of analyst reports. Zacks Research lowered Exp World from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 6th. DA Davidson lowered their price objective on shares of Exp World from $6.50 to $4.75 and set a "neutral" rating for the company in a research note on Wednesday, August 5th. Weiss Ratings lowered shares of Exp World from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, August 20th. Finally, Benchmark cut their target price on Exp World from $8.00 to $6.00 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $5.17.

Exp World Trading Down 7.0%

The firm has a market capitalization of $607.98 million, a P/E ratio of -33.64 and a beta of 2.05. The stock has a 50 day simple moving average of $4.39 and a 200-day simple moving average of $5.30.

Exp World (NASDAQ:AGNT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.10). Exp World had a negative net margin of 0.35% and a negative return on equity of 5.43%. The company had revenue of $1.45 billion during the quarter. The business's quarterly revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts expect that Exp World Holdings, Inc. will post -0.07 earnings per share for the current fiscal year.

Exp World Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.20 annualized dividend and a yield of 5.4%. Exp World's dividend payout ratio (DPR) is presently -181.82%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Philadelphia Investment Partners LLC purchased a new stake in shares of Exp World in the second quarter worth approximately $46,000. Citizens Financial Group Inc. RI bought a new position in Exp World in the 2nd quarter valued at $279,000. Commonwealth Financial Services LLC bought a new position in Exp World in the 1st quarter valued at $111,000. SEB Asset Management AB purchased a new stake in Exp World in the first quarter worth $587,000. Finally, Illinois Municipal Retirement Fund boosted its stake in shares of Exp World by 3.6% during the first quarter. Illinois Municipal Retirement Fund now owns 54,099 shares of the technology company's stock valued at $324,000 after purchasing an additional 1,872 shares during the period. Institutional investors own 27.17% of the company's stock.

About Exp World

eXp World Holdings, Inc NASDAQ: EXPI is a cloud-based real estate company that operates a global brokerage model through its eXp Realty subsidiary. Founded in 2009 by industry veteran Glenn Sanford and headquartered in Bellingham, Washington, the company leverages a virtual business environment to connect and support real estate professionals. eXp Realty's technology-driven platform enables licensed agents to list, show and manage residential property transactions without the overhead of traditional brick-and-mortar offices.

At the core of eXp World's offering is its proprietary virtual campus, which provides real-time training, collaboration and networking via an immersive online environment.

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