eXp World Holdings, Inc. (NASDAQ:EXPI – Get Rating)’s stock price shot up 9.1% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $12.83 and last traded at $12.46. 353,608 shares were traded during mid-day trading, a decline of 57% from the average session volume of 818,047 shares. The stock had previously closed at $11.42.
The technology company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. The business had revenue of $850.62 million during the quarter, compared to the consensus estimate of $861.21 million. eXp World had a return on equity of 6.13% and a net margin of 0.34%. The business’s quarterly revenue was down 15.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 EPS.
eXp World Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Monday, March 13th were paid a dividend of $0.045 per share. The ex-dividend date of this dividend was Friday, March 10th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.39%. eXp World’s dividend payout ratio is currently 180.00%.
Analyst Upgrades and Downgrades
Insider Activity at eXp World
In related news, CMO Courtney Keating Chakarun sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $12.11, for a total transaction of $60,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CMO Courtney Keating Chakarun sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $12.11, for a total value of $60,550.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Penny Sanford sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $12.18, for a total value of $730,800.00. Following the completion of the transaction, the insider now directly owns 27,164,043 shares in the company, valued at $330,858,043.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 226,765 shares of company stock worth $2,931,965. 35.70% of the stock is owned by company insiders.
Institutional Trading of eXp World
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of eXp World by 8.0% during the 3rd quarter. Vanguard Group Inc. now owns 10,422,839 shares of the technology company’s stock worth $116,840,000 after acquiring an additional 769,969 shares in the last quarter. BlackRock Inc. raised its holdings in shares of eXp World by 3.3% during the 3rd quarter. BlackRock Inc. now owns 4,666,410 shares of the technology company’s stock worth $52,310,000 after acquiring an additional 147,847 shares in the last quarter. Copeland Capital Management LLC raised its holdings in shares of eXp World by 23.6% during the 1st quarter. Copeland Capital Management LLC now owns 4,434,587 shares of the technology company’s stock worth $56,275,000 after acquiring an additional 845,889 shares in the last quarter. Millennium Management LLC raised its holdings in shares of eXp World by 114.1% during the 2nd quarter. Millennium Management LLC now owns 1,654,463 shares of the technology company’s stock worth $19,473,000 after acquiring an additional 881,750 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of eXp World by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 1,563,817 shares of the technology company’s stock worth $17,327,000 after acquiring an additional 38,222 shares in the last quarter. 56.58% of the stock is owned by hedge funds and other institutional investors.
eXp World Stock Up 13.5 %
The company has a fifty day moving average of $11.96 and a two-hundred day moving average of $12.62. The company has a market cap of $1.98 billion, a PE ratio of 129.60 and a beta of 2.73. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.76 and a current ratio of 2.76.
About eXp World
eXp World Holdings, Inc operates as a cloud-based real estate brokerage firm. It focuses on the development and use of cloud-based technologies in order to grow an international brokerage without the burden of physical brick and mortar offices and redundant staffing costs. The firm offers software subscriptions to customers to access its virtual reality software platform through VirBELA.
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