On September 2, 2023, it was reported that William Blair Investment Management LLC had reduced its holdings in shares of Expro Group Holdings (NYSE:XPRO) by 5.8% during the 1st quarter. This information was disclosed in the company’s most recent Form 13F filing with the Securities and Exchange Commission (SEC). The filing revealed that the fund owned 1,896,677 shares of Expro Group’s stock after selling 115,762 shares during the given period. At the end of this reporting period, William Blair Investment Management LLC owned approximately 1.75% of Expro Group, with a total value estimated at $34,823,000.
Expro Group Holdings opened at $23.51 on Friday and currently holds a market cap of $2.56 billion. The stock’s price-to-earnings ratio is -1,175.50 and it has a beta of 1.11. The company has a debt-to-equity ratio of 0.01 and its quick ratio stands at 1.59 while its current ratio is recorded at 1.95.
When observing the stock’s performance over time, it can be noted that Expro Group Holdings’ fifty-day moving average rests at $21.31 while its two-hundred-day moving average is reported to be $19.79. Notably, Expro Group experienced a fifty-two-week low of $11.40 and reached a fifty-two-week high of $24.50.
As an investment management firm reduces its holdings in a particular company like Expro Group Holdings, it can signify various factors such as changing investment strategies or revised market evaluations by financial experts.
This report provides valuable insights into the recent activities surrounding Expro Group Holdings’ stock and offers investors an opportunity to assess the firm’s current standing within the market based on these developments.
Expro Group Attracts Attention from Investors and Announces Insider Transactions
Expro Group, a prominent company listed on the New York Stock Exchange under the ticker symbol XPRO, has recently attracted attention from various investors. Notably, Ahrens Investment Partners LLC purchased a new stake in Expro Group during the first quarter of this year, valued at $28,000. Furthermore, Wells Fargo & Company MN significantly grew its stake in the company by 345.5% during the fourth quarter. Presently, Wells Fargo & Company MN holds 2,838 shares of Expro Group’s stock valued at $51,000.
Ensign Peak Advisors Inc also made a notable investment as it purchased a new stake in Expro Group during the third quarter of last year worth approximately $43,000. Royal Bank of Canada also lifted its stake in shares of Expro Group by 23.2% during that same period. As of now, Royal Bank of Canada owns 3,718 shares valued at $47,000 after purchasing an additional 700 shares.
Additionally, Acadian Asset Management LLC bought a new position in Expro Group during the first quarter for an approximate amount of $94,000. These investments from large institutional players have contributed significantly to the company’s ownership structure. Currently, approximately 83.29% of Expro Group’s stock is owned by institutional investors.
In recent news related to director transactions involving Expro Group’s stock, Director Michael C. Kearney sold 25,000 shares on Wednesday, July 26th with an average price per share of $23.14 resulting in a total value of $578,500. This transaction was disclosed through a legal filing with the Securities & Exchange Commission and can be found through the provided link.
It is important to note that Michael C. Kearney also conducted another sale on Wednesday, July 26th where he sold an additional 25,000 shares at an average price of $23.14 per share. Following these transactions, the director currently possesses 76,368 shares of Expro Group valued at $1,767,155.52.
Another major shareholder, Hill Advisors Lp Oak, conducted a significant sale of 2,320,000 shares of Expro Group stock on Tuesday, June 13th. This transaction was executed at an average price of $17.37 per share resulting in a total value of $40,298,400. Subsequent to this sale, the insider now holds 17,575,891 shares in the company valued at approximately $305,293,226.67.
In the last three months leading up to September 2nd — our reference date — insiders have sold a substantial amount of company stock with a combined value of $41,427,650. Notably, corporate insiders now own 1.50% of Expro Group’s stock.
Furthermore on July 27th this year Expro Group released its quarterly earnings results. For that period it reported earnings per share (EPS) of $0.13 which fell short of analysts’ consensus estimates by ($0.13). The company’s revenue for the quarter amounted to $396.92 million compared to the market’s consensus estimate which stood at $370.91 million.
The net margin for Expro Group during this period turned out to be negative at -0.12%, however its return on equity remained positive at 1.02%. Analysts primarily see the company posting an earnings figure around $0.9 per share for the current fiscal year.
Several research firms have also provided their views on Expro Group with regards to its performance and future prospects as an investment opportunity. Piper Sandler raised their price target on Expro Group from $30.00 to $32.00 and gave it an “overweight” rating in a research report dated Monday, July 31st this year. Additionally, Barclays increased the price target on Expro Group from $22.00 to $23.00 and offered the stock an “equal weight” rating in a report issued on Thursday, August 3rd.
Overall, Expro Group has recently witnessed significant developments in terms of investments made by large institutional players and key individuals within the company. It is crucial for potential investors or those interested in tracking Expro Group’s performance to closely monitor any updates related to its ownership structure and insider transactions, as well as carefully consider analyst opinions and industry trends before making any investment decisions.
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