eXp World’s (EXPI) “Neutral” Rating Reiterated at DA Davidson

DA Davidson reaffirmed their neutral rating on shares of eXp World (NASDAQ:EXPI) in a report issued on Friday morning,Benzinga reports. They currently have a $13.50 price target on the technology company’s stock.

eXp World Stock Down 9.5 %

Shares of EXPI stock opened at $10.26 on Friday. eXp World has a 12 month low of $8.91 and a 12 month high of $15.39. The firm has a market cap of $1.58 billion, a PE ratio of -73.28 and a beta of 2.29. The stock has a 50 day moving average of $11.34 and a 200-day moving average of $12.55.

eXp World (NASDAQ:EXPI) last issued its earnings results on Thursday, February 20th. The technology company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.03 billion. eXp World had a positive return on equity of 5.75% and a negative net margin of 0.47%. As a group, equities analysts predict that eXp World will post 0.48 EPS for the current fiscal year.

eXp World Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.20 annualized dividend and a yield of 1.95%. eXp World’s dividend payout ratio is currently -142.85%.

Insiders Place Their Bets

In other news, CEO Glenn Darrel Sanford sold 50,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $13.00, for a total transaction of $650,000.00. Following the sale, the chief executive officer now owns 40,289,080 shares in the company, valued at approximately $523,758,040. This represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 361,511 shares of company stock worth $4,365,561 over the last three months. 35.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On eXp World

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

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.