eXp World (NASDAQ:EXPI) Trading 9.6% Higher on Earnings Beat

eXp World Holdings, Inc. (NASDAQ:EXPI) shares rose 9.6% during mid-day 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 changed hands during mid-day 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 for the quarter, beating the consensus estimate of ($0.03) by $0.01. The business had revenue of $943.10 million for the quarter, compared to analyst estimates of $893.24 million. eXp World had a positive return on equity of 0.09% and a negative net margin of 0.21%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.01 EPS.

eXp World Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Thursday, March 7th. eXp World’s payout ratio is currently -333.33%.

Wall Street Analysts Forecast Growth

EXPI has been the topic of several research reports. DA Davidson cut their price objective on eXp World from $13.00 to $11.75 and set an “underperform” rating on the stock in a research report on Thursday, April 25th. TheStreet downgraded shares of eXp World from a “c-” rating to a “d” rating in a research note on Monday, March 4th.

Institutional Investors Weigh In On eXp World

Hedge funds have recently bought and sold shares of the business. Copeland Capital Management LLC grew its position in shares of eXp World by 6.4% during the fourth 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. grew its holdings in eXp World by 30.5% during the 3rd 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 bought a new stake in shares of eXp World in the 3rd quarter worth about $3,771,000. Seven Eight Capital LP acquired a new stake in shares of eXp World in the 3rd quarter valued at about $164,000. Finally, Vanguard Group Inc. lifted its position in shares of eXp World by 1.4% during the third 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 last quarter. Institutional investors and hedge funds own 27.17% of the company’s stock.

eXp World Stock Up 10.3 %

The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -186.17 and a beta of 2.29. The stock has a 50 day moving average of $10.71 and a 200 day moving average of $12.53.

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.