Exp World (NASDAQ:AGNT) Shares Down 5.6% – Here’s Why

Exp World Holdings, Inc. (NASDAQ:AGNT)’s share price fell 5.6% during mid-day trading on Monday . The company traded as low as $5.01 and last traded at $5.02. Approximately 209,430 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 1,152,681 shares. The stock had previously closed at $5.32.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AGNT shares. Wall Street Zen raised shares of Exp World to a “hold” rating in a report on Sunday, May 10th. Weiss Ratings restated a “sell (d)” rating on shares of Exp World in a report on Wednesday, May 27th. Benchmark initiated coverage on Exp World in a research note on Thursday, March 26th. They set a “buy” rating and a $8.00 target price on the stock. DA Davidson reissued a “neutral” rating and issued a $6.50 target price (down from $10.25) on shares of Exp World in a report on Thursday, July 2nd. Finally, Zelman & Associates initiated coverage on Exp World in a report on Friday, March 20th. They set an “underperform” rating and a $4.75 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.42.

Exp World Trading Down 2.2%

The company has a market cap of $815.03 million, a P/E ratio of -49.60 and a beta of 2.06. The business’s 50 day simple moving average is $5.20 and its 200 day simple moving average is $6.79.

Exp World (NASDAQ:AGNT) last posted its quarterly earnings results on Monday, May 11th. The technology company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Exp World had a negative return on equity of 7.05% and a negative net margin of 0.35%.The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $971.32 million. Sell-side analysts anticipate that Exp World Holdings, Inc. will post 0.08 EPS for the current year.

Exp World Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, May 22nd. Exp World’s dividend payout ratio (DPR) is currently -200.00%.

Hedge Funds Weigh In On Exp World

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Exp World by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 14,113,222 shares of the technology company’s stock valued at $127,725,000 after purchasing an additional 690,694 shares during the last quarter. State Street Corp increased its stake in shares of Exp World by 4.6% in the fourth quarter. State Street Corp now owns 3,299,012 shares of the technology company’s stock worth $29,856,000 after acquiring an additional 145,657 shares during the period. Bank of America Corp DE raised its stake 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 buying an additional 1,391,582 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Exp World by 4.6% in the fourth quarter. Renaissance Technologies LLC now owns 2,656,716 shares of the technology company’s stock valued at $24,043,000 after acquiring an additional 116,900 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Exp World by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 2,418,531 shares of the technology company’s stock valued at $21,891,000 after purchasing an additional 38,134 shares during the period. 27.17% of the stock is 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.