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In a move to adjust its capital return strategy, eXp World Holdings, Inc. (NASDAQ:EXPI), a real estate services firm currently valued at $1.49 billion, has amended its share repurchase plan, as revealed in a recent SEC filing. According to InvestingPro analysis, the stock appears undervalued against its Fair Value, making the timing of this buyback particularly noteworthy. On March 12, 2025, the company’s board approved the Tenth Amendment to its existing Issuer Repurchase Plan with Stephens Inc., originally dated January 10, 2022.
This amendment modifies the monthly repurchase amounts, extending the terms of the plan through December 31, 2025. The specific changes to the repurchase amounts were not disclosed in the filing. The company’s decision to alter its repurchase strategy reflects a potential shift in how it intends to manage its capital allocation and return value to its shareholders. InvestingPro data shows the company holds more cash than debt on its balance sheet, providing flexibility for this capital return initiative despite the stock’s recent 33.7% decline over the past six months.
Share repurchase plans are often used by companies to buy back their own shares from the marketplace, which can increase earnings per share and the value of remaining shares by reducing the number of shares outstanding. They also provide a signal to the market that the company believes its shares are undervalued.
eXp World Holdings, based in Bellingham, Washington, has a history that includes several name changes, with its origins as Desert Canadians Ltd. before rebranding to eXp Realty International Corp and later to EXP World Holdings, Inc. The company operates in the real estate agents and managers sector under the SIC code 6531.
The SEC filing dated March 14, 2025, ensures that interested parties are informed of the company’s corporate actions in compliance with the Securities Exchange Act of 1934. It is important to note that the information is based on a press release statement and the details of the Tenth Amendment are available for public review as part of the company’s regulatory disclosures.
Investors in eXp World Holdings may consider this development when evaluating the company’s stock, which trades on The Nasdaq Stock Market under the ticker symbol EXPI. While the company reported losses in the last twelve months, InvestingPro analysts forecast a return to profitability in 2025 with expected earnings per share of $0.43. The amendment to the repurchase plan may influence investor sentiment and the company’s stock performance in the near term. For deeper insights into EXPI’s valuation and 20+ additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, eXp World Holdings reported a notable financial performance for the fourth quarter of 2024, with revenue reaching $1.1 billion, surpassing the forecast of $1.03 billion. This achievement marks a 12% year-over-year increase in revenue, highlighting the company’s ability to generate strong sales despite market challenges. The company also achieved a full-year revenue growth of 7% compared to the previous year. DA Davidson maintained a Neutral rating on eXp World Holdings, with a price target of $13.50, following the company’s impressive financial results. The firm’s analysis pointed to mixed results, noting concerns over agent retention despite strong earnings.
Additionally, eXp World Holdings announced the resignation of its Chief Accounting Officer, Jian (Kent) Cheng, effective March 31, 2025. Cheng will transition to a strategic advisor role until August 2025, as the company searches for a new Chief Financial Officer. In another development, eXp Realty, a subsidiary of eXp World Holdings, added HGTV star Kortney Wilson to its team, aiming to leverage her expertise to enhance its global business presence. These recent developments, including leadership changes and strategic partnerships, are being closely monitored by investors and stakeholders as they assess the company’s future trajectory.
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