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

eXp World Holdings, Inc. (NASDAQ:EXPI)’s share price gapped up before the market opened on Friday following a stronger than expected earnings report. 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 analysts’ consensus estimates of ($0.06) by $0.03. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.03 billion. eXp World had a negative net margin of 0.74% and a positive return on equity of 2.27%.

eXp World Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, DA Davidson reissued a “neutral” rating and issued a $13.50 price objective on shares of eXp World in a research report on Friday.

Insiders Place Their Bets

In other eXp World news, CEO Glenn Darrel Sanford sold 49,881 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 40,339,199 shares of the company’s stock, valued at approximately $559,504,690.13. This represents a 0.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 411,511 shares of company stock valued at $5,086,061. 35.70% of the stock is currently owned by corporate insiders.

Institutional Trading of eXp World

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in eXp World during the third quarter worth $30,000. Point72 Hong Kong Ltd bought a new stake in eXp World during the third quarter worth $34,000. SBI Securities Co. Ltd. bought a new stake in eXp World during the fourth quarter worth $32,000. Graney & King LLC bought a new stake in eXp World during the fourth quarter worth $58,000. Finally, IHT Wealth Management LLC bought a new stake in eXp World during the third quarter worth $145,000. 27.17% of the stock is owned by institutional investors.

eXp World Price Performance

The company has a market capitalization of $1.58 billion, a P/E ratio of -46.64 and a beta of 2.29. The company’s 50-day moving average price is $11.40 and its two-hundred day moving average price is $12.56.

About eXp World

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.