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

eXp World Holdings, Inc. (NASDAQ:EXPI) was up 9.6% during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $11.50 and last traded at $11.12. Approximately 283,190 shares changed 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 the consensus estimate of ($0.03) by $0.01. eXp World had a negative return on equity of 1.45% and a negative net margin of 0.60%. The company had revenue of $943.10 million during the quarter, compared to analyst estimates of $893.24 million. During the same period in the previous year, the company earned $0.01 EPS. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year.

eXp World Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on EXPI shares. DA Davidson restated an “underperform” rating and set a $11.75 price objective on shares of eXp World in a report on Thursday. TheStreet cut shares of eXp World from a “c-” rating to a “d” rating in a research note on Monday, March 4th.

Institutional Trading of eXp World

A number of hedge funds have recently made changes to their positions in EXPI. Stratos Wealth Partners LTD. boosted its holdings in shares of eXp World by 6.7% during the 4th quarter. Stratos Wealth Partners LTD. now owns 14,738 shares of the technology company’s stock worth $229,000 after buying an additional 923 shares during the period. Arizona State Retirement System grew its position in shares of eXp World by 4.5% in the third quarter. Arizona State Retirement System now owns 21,845 shares of the technology company’s stock valued at $355,000 after purchasing an additional 945 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of eXp World by 2.1% during the fourth quarter. SG Americas Securities LLC now owns 51,496 shares of the technology company’s stock worth $799,000 after purchasing an additional 1,082 shares during the period. Exchange Traded Concepts LLC lifted its holdings in eXp World by 28.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,154 shares of the technology company’s stock worth $84,000 after purchasing an additional 1,156 shares during the last quarter. Finally, SRS Capital Advisors Inc. boosted its stake in eXp World by 354.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,974 shares of the technology company’s stock valued at $31,000 after purchasing an additional 1,540 shares during the period. 27.17% of the stock is owned by institutional investors and hedge funds.

eXp World Stock Performance

The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -68.35 and a beta of 2.29. The business has a fifty day simple moving average of $10.72 and a 200 day simple moving average of $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.