Exponent (NASDAQ:EXPO) Trading Down 8.2% After Insider Selling
by Renee Jackson · The Cerbat GemExponent, Inc. (NASDAQ:EXPO – Get Free Report)’s stock price fell 8.2% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $52.73 and last traded at $52.4780. 288,115 shares were traded during mid-day trading, a decline of 38% from the average session volume of 467,642 shares. The stock had previously closed at $57.19.
Specifically, VP Joseph Rakow sold 2,945 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $54.66, for a total value of $160,973.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Joseph Sala sold 2,066 shares of Exponent stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $56.66, for a total value of $117,059.56. The disclosure for this sale is available in the SEC filing.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on EXPO shares. UBS Group cut their target price on Exponent from $85.00 to $75.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. JPMorgan Chase & Co. dropped their price objective on Exponent from $95.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Exponent in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.50.
Get Our Latest Stock Analysis on Exponent
Exponent Trading Up 0.3%
The company has a 50 day moving average price of $66.10 and a 200 day moving average price of $69.85. The firm has a market cap of $2.61 billion, a PE ratio of 25.03 and a beta of 0.78.
Exponent (NASDAQ:EXPO – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The business services provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. The firm had revenue of $166.30 million during the quarter, compared to the consensus estimate of $149.53 million. Exponent had a return on equity of 27.94% and a net margin of 18.07%.Exponent’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. As a group, equities research analysts anticipate that Exponent, Inc. will post 2.28 earnings per share for the current fiscal year.
Exponent Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, June 5th. Exponent’s payout ratio is 57.67%.
Institutional Investors Weigh In On Exponent
Several institutional investors and hedge funds have recently made changes to their positions in the business. Bell Investment Advisors Inc increased its holdings in Exponent by 423.6% during the 1st quarter. Bell Investment Advisors Inc now owns 377 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 305 shares in the last quarter. Hantz Financial Services Inc. grew its position in shares of Exponent by 97.0% in the third quarter. Hantz Financial Services Inc. now owns 396 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 195 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Exponent during the 3rd quarter worth approximately $33,000. Allworth Financial LP increased its stake in shares of Exponent by 86.1% during the 4th quarter. Allworth Financial LP now owns 469 shares of the business services provider’s stock worth $33,000 after purchasing an additional 217 shares in the last quarter. Finally, Winnow Wealth LLC acquired a new position in shares of Exponent during the 3rd quarter worth approximately $34,000. 92.37% of the stock is currently owned by hedge funds and other institutional investors.
About Exponent
Exponent, Inc (NASDAQ: EXPO) is an engineering and scientific consulting firm that offers multidisciplinary analysis and advisory services to clients across a range of industries. The company’s expertise spans mechanical, materials and corrosion engineering, civil and structural engineering, electrical engineering, industrial hygiene, toxicology and health sciences, and failure analysis. Exponent provides support for product design, performance evaluation, litigation consulting, and regulatory compliance, helping manufacturers, insurers, law firms and government agencies address complex technical challenges.
Founded in 1967 in Menlo Park, California, Exponent has grown from a small failure-analysis laboratory into a global consulting practice.