Zacks Research Upgrades Exp World (NASDAQ:EXPI) to “Hold”

Exp World (NASDAQ:EXPI) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Exp World in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.00.

Exp World Price Performance

EXPI stock opened at $9.43 on Tuesday. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -78.58 and a beta of 1.97. The company has a 50 day simple moving average of $10.32 and a 200 day simple moving average of $10.46. Exp World has a 1 year low of $6.90 and a 1 year high of $12.23.

Exp World (NASDAQ:EXPI) last released its quarterly earnings data on Thursday, November 6th. The technology company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.06). The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.04) EPS. On average, equities research analysts anticipate that Exp World will post 0.48 EPS for the current fiscal year.

Insider Buying and Selling at Exp World

In other Exp World news, major shareholder Penny Sanford sold 117,179 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $12.04, for a total transaction of $1,410,835.16. Following the sale, the insider directly owned 26,731,114 shares of the company’s stock, valued at $321,842,612.56. This represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Randall D. Miles sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $11.20, for a total transaction of $112,000.00. Following the completion of the transaction, the director directly owned 487,190 shares of the company’s stock, valued at approximately $5,456,528. This trade represents a 2.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 137,179 shares of company stock valued at $1,623,035. Insiders own 27.96% of the company’s stock.

Hedge Funds Weigh In On Exp World

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Exp World by 13.1% during the third 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 in the last quarter. Bank of America Corp DE increased its position in shares of Exp World by 73.3% during the 2nd quarter. Bank of America Corp DE now owns 3,289,449 shares of the technology company’s stock valued at $29,934,000 after purchasing an additional 1,391,582 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Exp World by 126.7% during the 1st 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 in the last quarter. Invesco Ltd. lifted its position in Exp World by 55.8% in the 2nd 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 last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Exp World by 56.4% in the second quarter. JPMorgan Chase & Co. now owns 710,001 shares of the technology company’s stock worth $6,461,000 after buying an additional 256,095 shares in the last quarter. 27.17% of the stock is currently owned by hedge funds and other institutional investors.

Exp World Company Profile

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.