Exp World (NASDAQ:AGNT) Trading Down 6.5% Following Insider Selling

Exp World Holdings, Inc. (NASDAQ:AGNT)’s share price was down 6.5% on Wednesday following insider selling activity. The company traded as low as $3.71 and last traded at $3.72. 525,149 shares were traded 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 on 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 owned 18,037,824 shares in the company, 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 SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Zacks Research downgraded Exp World from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 6th. Benchmark lowered 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. DA Davidson lowered their price objective on Exp World from $6.50 to $4.75 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th. Finally, Weiss Ratings cut Exp World from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, August 20th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $5.17.

Exp World Trading Down 7.0%

The firm has a market cap of $607.98 million, a price-to-earnings ratio of -33.64 and a beta of 2.05. The stock’s fifty day moving average price is $4.39 and its 200-day moving average price is $5.30.

Exp World (NASDAQ:AGNT) last issued its quarterly earnings data on Tuesday, August 4th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.10). The company had revenue of $1.45 billion during the quarter. Exp World had a negative net margin of 0.35% and a negative return on equity of 5.43%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts predict that Exp World Holdings, Inc. will post -0.07 earnings per share for the current year.

Exp World Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend was Friday, August 14th. Exp World’s payout ratio is presently -181.82%.

Institutional Trading of Exp World

Several hedge funds have recently added to or reduced their stakes in the company. UBS Group AG lifted its holdings in Exp World by 81.7% during the 4th quarter. UBS Group AG now owns 1,778,193 shares of the technology company’s stock worth $16,093,000 after buying an additional 799,587 shares during the last quarter. Vanguard Group Inc. raised its position in 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. OP Asset Management Ltd acquired a new stake in Exp World during the 1st quarter worth $2,451,000. Northwestern Mutual Wealth Management Co. grew its position in Exp World by 106,586.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 213,372 shares of the technology company’s stock worth $1,931,000 after purchasing an additional 213,172 shares during the last quarter. Finally, SEB Asset Management AB purchased a new position in Exp World during the 1st quarter worth $587,000. Institutional investors and hedge funds 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.