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BELLINGHAM, WA—Glenn Darrel Sanford, the CEO and Chairman of the Board at eXp World Holdings, Inc. (NASDAQ:EXPI), has recently sold 25,000 shares of the company’s common stock. The transactions, carried out on February 18, 2025, were executed at a weighted average price of $11.0249 per share, resulting in a total value of approximately $275,622. According to InvestingPro data, while this sale represents a small portion of insider holdings, management has been actively buying back shares, demonstrating confidence in the company’s future.
The shares were sold in multiple transactions at prices ranging from $10.795 to $11.24. Following these sales, Sanford holds 39,928,400 shares directly. With the company’s earnings report due on February 20, 2025, InvestingPro analysis indicates analysts expect the company to return to profitability this year, with projected earnings of $0.13 per share for 2024.
eXp World Holdings, a real estate company headquartered in Bellingham, Washington, continues to be led by Sanford, who also holds the position of a ten percent owner and director of the company. The company maintains a strong balance sheet with more cash than debt, and its current ratio of 1.4 indicates solid short-term liquidity.
In other recent news, eXp World Holdings, Inc. has reached a $34 million settlement to resolve a national class action lawsuit, as revealed in a recent SEC filing. This settlement involves changes to eXp’s business practices, including policies on agent compensation and disclosure requirements. The financial impact is expected to result in a pre-tax charge of $34 million for the company, pending court approval. Additionally, eXp has completed the sale of its Virbela software platform assets to a company owned by former executives Alex Howland and Erik Hill. The transaction includes the transfer of intellectual property and the assumption of certain liabilities by the buyer. Howland and Hill have agreed to forgo severance payments totaling $252,100. Furthermore, eXp’s Board of Directors has approved an amendment to the company’s stock repurchase plan, adjusting monthly repurchase amounts through 2025. These developments are part of eXp World Holdings’ strategic initiatives as reported in their recent SEC filings.
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