Exp World (NASDAQ:EXPI) Shares Down 6.8% – Here’s What Happened

Exp World Holdings, Inc. (NASDAQ:EXPI) shares were down 6.8% during trading on Monday . The stock traded as low as $9.78 and last traded at $9.8790. Approximately 116,605 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 1,184,552 shares. The stock had previously closed at $10.60.

Analysts Set New Price Targets

A number of research analysts recently weighed in on EXPI shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Exp World in a research note on Monday, December 8th. Zacks Research lowered Exp World from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $12.00.

Exp World Price Performance

The company has a 50 day moving average of $10.81 and a 200-day moving average of $10.39. The company has a market cap of $1.58 billion, a P/E ratio of -83.03 and a beta of 1.98.

Exp World (NASDAQ:EXPI) last released its quarterly earnings results on Thursday, November 6th. The technology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.06). The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Exp World had a negative net margin of 0.41% and a negative return on equity of 6.61%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.04) EPS. Research analysts anticipate that Exp World Holdings, Inc. will post 0.48 EPS for the current year.

Exp World Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, November 17th. Exp World’s payout ratio is currently -166.67%.

Insiders Place Their Bets

In related news, major shareholder Penny Sanford sold 117,179 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $12.04, for a total value of $1,410,835.16. Following the completion of the sale, the insider owned 26,731,114 shares in the company, valued at $321,842,612.56. The trade was a 0.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Randall D. Miles sold 10,000 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $11.20, for a total transaction of $112,000.00. Following the transaction, the director owned 487,190 shares in the company, valued at $5,456,528. The trade was a 2.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 147,179 shares of company stock worth $1,727,735. 27.96% of the stock is owned by insiders.

Institutional Investors Weigh In On Exp World

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Exp World by 13.1% during the 3rd quarter. Vanguard Group Inc. now owns 13,422,528 shares of the technology company’s stock valued at $143,084,000 after purchasing an additional 1,557,600 shares during the last quarter. Bank of America Corp DE lifted its stake in Exp World by 73.3% in the second quarter. Bank of America Corp DE now owns 3,289,449 shares of the technology company’s stock worth $29,934,000 after purchasing an additional 1,391,582 shares during the last quarter. Nuveen LLC purchased a new stake in Exp World during the first quarter valued at about $5,523,000. Millennium Management LLC grew its stake in shares of Exp World by 126.7% during the first quarter. Millennium Management LLC now owns 905,523 shares of the technology company’s stock valued at $8,856,000 after buying an additional 506,121 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Exp World by 55.8% in the second quarter. Invesco Ltd. now owns 1,178,065 shares of the technology company’s stock worth $10,720,000 after buying an additional 421,740 shares during the period. Hedge funds and other institutional investors own 27.17% of the company’s stock.

About Exp World

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.