eXp World (NASDAQ:EXPI) Shares Gap Up on Better-Than-Expected Earnings

eXp World Holdings, Inc. (NASDAQ:EXPI)’s share price gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $11.34, but opened at $11.98. eXp World shares last traded at $10.46, with a volume of 269,473 shares trading hands.

The technology company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.03. eXp World had a negative net margin of 0.74% and a positive return on equity of 2.27%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.03 billion.

eXp World Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Tuesday, March 4th. eXp World’s dividend payout ratio is -90.91%.

Analyst Ratings Changes

Separately, DA Davidson reiterated a “neutral” rating and set a $13.50 price target on shares of eXp World in a research report on Friday.

Insider Activity at eXp World

In related news, CEO Glenn Darrel Sanford sold 49,881 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $13.87, for a total transaction of $691,849.47. Following the completion of the transaction, the chief executive officer now owns 40,339,199 shares in the company, valued at approximately $559,504,690.13. The trade was a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 411,511 shares of company stock worth $5,086,061. 35.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in shares of eXp World by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 520,419 shares of the technology company’s stock valued at $7,333,000 after buying an additional 75,431 shares during the period. CWA Asset Management Group LLC acquired a new position in shares of eXp World in the third quarter valued at approximately $519,000. Harbor Capital Advisors Inc. boosted its holdings in shares of eXp World by 91.9% in the third quarter. Harbor Capital Advisors Inc. now owns 116,517 shares of the technology company’s stock valued at $1,642,000 after buying an additional 55,814 shares during the period. State Street Corp boosted its holdings in shares of eXp World by 4.1% in the third quarter. State Street Corp now owns 2,982,216 shares of the technology company’s stock valued at $42,019,000 after buying an additional 117,418 shares during the period. Finally, Algert Global LLC boosted its holdings in shares of eXp World by 147.6% in the third quarter. Algert Global LLC now owns 296,085 shares of the technology company’s stock valued at $4,172,000 after buying an additional 176,509 shares during the period. Institutional investors and hedge funds own 27.17% of the company’s stock.

eXp World Stock Down 9.5 %

The company has a market cap of $1.58 billion, a price-to-earnings ratio of -46.64 and a beta of 2.29. The company’s fifty day moving average price is $11.40 and its two-hundred day moving average price is $12.56.

eXp World Company Profile

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.