Exp World (NASDAQ:AGNT) Hits New 12-Month Low Following Weak Earnings

Exp World Holdings, Inc. (NASDAQ:AGNT) reached a new 52-week low on Friday following a dissappointing earnings announcement. The company traded as low as $3.32 and last traded at $3.40, with a volume of 283,332 shares traded. The stock had previously closed at $3.91.

The technology company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.10). The firm had revenue of $1.39 billion for the quarter. Exp World had a negative return on equity of 5.43% and a negative net margin of 0.35%. The firm’s revenue was up 5.8% compared to the same quarter last year.

Analyst Ratings Changes

Several research firms have recently issued reports on AGNT. Citizens Jmp assumed coverage on Exp World in a research note on Wednesday, October 14th. They set a “market outperform” rating and a $6.00 price target for the company. Weiss Ratings lowered shares of Exp World from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 25th. Zacks Research raised shares of Exp World from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 23rd. DA Davidson dropped their target price on shares of Exp World from $6.50 to $4.75 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Finally, Wall Street Zen downgraded shares of Exp World from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Exp World presently has a consensus rating of “Hold” and an average price target of $5.38.

Insider Transactions at Exp World

In related news, major shareholder Gratitude 2022 Trust U/A/D 8/2 sold 8,693,290 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $3.68, for a total value of $31,991,307.20. Following the completion of the sale, the insider directly owned 18,037,824 shares in the company, valued at approximately $66,379,192.32. The trade was a 32.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 26.59% of the company’s stock.

Institutional Investors Weigh In On Exp World

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI purchased a new position in Exp World in the third quarter valued at approximately $186,000. Quadrant Capital Group LLC purchased a new stake in Exp World during the 3rd quarter worth $317,000. Cim Investment Management Inc. purchased a new stake in Exp World during the 2nd quarter worth $136,000. Philadelphia Investment Partners LLC purchased a new stake in Exp World during the 2nd quarter worth $46,000. Finally, Commonwealth Financial Services LLC acquired a new stake in Exp World in the 1st quarter valued at $111,000. 27.17% of the stock is currently owned by institutional investors and hedge funds.

Exp World Stock Performance

The stock has a market capitalization of $540.61 million, a price-to-earnings ratio of -29.91 and a beta of 1.94. The firm has a fifty day moving average of $3.88 and a 200-day moving average of $5.35.

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. In addition, the company offers SUCCESS print magazine, SUCCESS.com portal, SUCCESS newsletters, SUCCESS podcasts, SUCCESS plus, SUCCESS speakers bureau, and SUCCESS coaching, podcasts, and digital training courses.