eXp World (NASDAQ:EXPI) Shares Up 9.6% After Earnings Beat

eXp World Holdings, Inc. (NASDAQ:EXPI)’s share price was up 9.6% during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $11.50 and last traded at $11.12. Approximately 283,190 shares traded hands during trading, a decline of 74% from the average daily volume of 1,077,778 shares. The stock had previously closed at $10.15.

The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. eXp World had a negative net margin of 0.60% and a negative return on equity of 1.45%. The business had revenue of $943.10 million for the quarter, compared to analyst estimates of $893.24 million. During the same period last year, the firm posted $0.01 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year.

eXp World Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 27th. Shareholders of record on Monday, May 13th will be paid a $0.05 dividend. The ex-dividend date is Friday, May 10th. This represents a $0.20 dividend on an annualized basis and a yield of 1.72%. eXp World’s dividend payout ratio is presently -117.64%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on EXPI shares. DA Davidson reissued an “underperform” rating and set a $11.75 price target on shares of eXp World in a report on Thursday. TheStreet lowered eXp World from a “c-” rating to a “d” rating in a report on Monday, March 4th.

Institutional Investors Weigh In On eXp World

A number of hedge funds have recently added to or reduced their stakes in the company. Copeland Capital Management LLC raised its stake in shares of eXp World by 6.4% during the 4th quarter. Copeland Capital Management LLC now owns 3,866,710 shares of the technology company’s stock worth $60,011,000 after buying an additional 232,321 shares in the last quarter. Invesco Ltd. raised its position in eXp World by 30.5% in the third quarter. Invesco Ltd. now owns 432,798 shares of the technology company’s stock worth $7,029,000 after acquiring an additional 101,147 shares in the last quarter. Wellington Management Group LLP acquired a new stake in eXp World in the third quarter valued at $3,771,000. Seven Eight Capital LP purchased a new stake in shares of eXp World during the 3rd quarter worth $164,000. Finally, Vanguard Group Inc. grew its stake in shares of eXp World by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 12,017,564 shares of the technology company’s stock worth $195,165,000 after purchasing an additional 168,360 shares during the period. Institutional investors and hedge funds own 27.17% of the company’s stock.

eXp World Stock Performance

The firm has a market cap of $1.77 billion, a PE ratio of -68.35 and a beta of 2.29. The stock’s fifty day moving average price is $10.72 and its 200-day moving average price is $12.51.

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.