eXp World (NASDAQ:EXPI) Stock Price Up 9.1%

eXp World Holdings, Inc. (NASDAQ:EXPI) rose 9.1% during trading on Monday . The company traded as high as $12.65 and last traded at $12.65. Approximately 292,543 shares traded hands during trading, a decline of 72% from the average daily volume of 1,037,677 shares. The stock had previously closed at $11.59.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on EXPI shares. DA Davidson lifted their price target on shares of eXp World from $11.75 to $13.50 and gave the company a “neutral” rating in a research note on Thursday, August 1st. BTIG Research upgraded shares of eXp World from a “sell” rating to a “neutral” rating in a report on Tuesday, July 23rd.

eXp World Stock Performance

The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of -74.41 and a beta of 2.30. The company has a 50-day moving average price of $12.49 and a 200-day moving average price of $11.54.

eXp World (NASDAQ:EXPI) last announced its earnings results on Wednesday, July 31st. The technology company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). eXp World had a negative return on equity of 0.56% and a negative net margin of 0.52%. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the company posted $0.06 EPS. eXp World’s quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts expect that eXp World Holdings, Inc. will post 0.09 earnings per share for the current fiscal year.

eXp World Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Wednesday, August 14th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.58%. eXp World’s payout ratio is -117.64%.

Insider Activity

In related news, CEO Glenn Darrel Sanford sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $10.74, for a total value of $214,800.00. Following the completion of the sale, the chief executive officer now directly owns 41,474,292 shares in the company, valued at $445,433,896.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold 500,060 shares of company stock worth $6,361,102 over the last ninety days. 35.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On eXp World

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EXPI. Scarborough Advisors LLC acquired a new position in eXp World in the fourth quarter worth about $31,000. Pineridge Advisors LLC acquired a new stake in shares of eXp World in the 4th quarter worth about $33,000. Point72 DIFC Ltd acquired a new stake in shares of eXp World in the second quarter valued at approximately $26,000. Meeder Asset Management Inc. acquired a new position in shares of eXp World during the second quarter worth approximately $29,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of eXp World by 29.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,481 shares of the technology company’s stock worth $116,000 after purchasing an additional 1,681 shares in the last quarter. 27.17% of the stock is owned by hedge funds and other institutional investors.

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.