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

eXp World Holdings, Inc. (NASDAQ:EXPI - Get Free Report)'s share price gapped up before the market opened on Friday following a better than expected earnings announcement. 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 changing hands.

The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.03. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.03 billion. eXp World had a negative net margin of 0.47% and a positive return on equity of 5.75%.

eXp World Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Tuesday, March 4th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.20 annualized dividend and a dividend yield of 1.91%. eXp World's dividend payout ratio is presently -142.86%.

Analyst Ratings Changes

Separately, DA Davidson reaffirmed a "neutral" rating and issued a $13.50 target price on shares of eXp World in a research report on Friday.

Insider Buying and Selling at eXp World

In other news, CEO Glenn Darrel Sanford sold 49,881 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $13.87, for a total value of $691,849.47. Following the sale, the chief executive officer now directly owns 40,339,199 shares in the company, valued at approximately $559,504,690.13. This trade represents a 0.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 386,511 shares of company stock valued at $4,620,811 in the last 90 days. Company insiders own 35.70% of the company's stock.

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Institutional Trading of eXp World

Several hedge funds have recently added to or reduced their stakes in EXPI. Allspring Global Investments Holdings LLC purchased a new stake in shares of eXp World in the 3rd quarter valued at approximately $30,000. SBI Securities Co. Ltd. acquired a new position in shares of eXp World during the fourth quarter worth $32,000. Point72 Hong Kong Ltd purchased a new position in eXp World in the third quarter valued at $34,000. Graney & King LLC purchased a new stake in eXp World during the 4th quarter worth about $58,000. Finally, Sims Investment Management LLC acquired a new position in shares of eXp World during the 4th quarter worth about $121,000. Institutional investors and hedge funds own 27.17% of the company's stock.

eXp World Trading Up 2.9 %

The firm has a market cap of $1.62 billion, a PE ratio of -74.96 and a beta of 2.29. The business has a fifty day moving average price of $11.29 and a 200 day moving average price of $12.54.

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.