Exponent, Inc. (NASDAQ:EXPO) Sees Large Decline in Short Interest

Exponent, Inc. (NASDAQ:EXPO) was the recipient of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 2,048,221 shares, a decline of 33.5% from the May 14th total of 3,081,228 shares. Currently, 4.3% of the shares of the stock are short sold. Based on an average daily volume of 553,097 shares, the days-to-cover ratio is currently 3.7 days.

Insider Transactions at Exponent

In related news, CEO Catherine Corrigan sold 4,194 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $54.06, for a total value of $226,727.64. Following the sale, the chief executive officer directly owned 105,218 shares in the company, valued at $5,688,085.08. The trade was a 3.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Joseph Sala sold 2,066 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $56.66, for a total transaction of $117,059.56. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 15,114 shares of company stock valued at $884,340. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Exponent

Institutional investors and hedge funds have recently bought and sold shares of the stock. Inspire Investing LLC boosted its holdings in shares of Exponent by 2.6% in the 4th quarter. Inspire Investing LLC now owns 6,709 shares of the business services provider’s stock valued at $466,000 after purchasing an additional 172 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Exponent by 50.4% in the fourth quarter. GAMMA Investing LLC now owns 576 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 193 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Exponent by 37.1% in the first quarter. Bessemer Group Inc. now owns 717 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 194 shares during the last quarter. Strs Ohio grew its position in Exponent by 11.1% during the fourth quarter. Strs Ohio now owns 2,000 shares of the business services provider’s stock valued at $139,000 after acquiring an additional 200 shares during the period. Finally, State of Michigan Retirement System increased its stake in Exponent by 1.7% during the first quarter. State of Michigan Retirement System now owns 12,000 shares of the business services provider’s stock worth $783,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Exponent Price Performance

EXPO traded down $0.87 during trading on Wednesday, hitting $56.47. The company’s stock had a trading volume of 246,326 shares, compared to its average volume of 493,860. The firm’s 50 day moving average price is $61.58 and its 200-day moving average price is $67.86. The stock has a market cap of $2.74 billion, a PE ratio of 26.26 and a beta of 0.72. Exponent has a twelve month low of $51.91 and a twelve month high of $81.95.

Exponent (NASDAQ:EXPO) last posted its quarterly earnings data on Thursday, April 30th. The business services provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. Exponent had a return on equity of 27.94% and a net margin of 18.07%.The business had revenue of $166.30 million for the quarter, compared to analysts’ expectations of $149.53 million. During the same quarter last year, the firm earned $0.52 earnings per share. The business’s revenue was up 14.3% on a year-over-year basis. Equities analysts anticipate that Exponent will post 2.28 earnings per share for the current year.

Exponent Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.2%. Exponent’s dividend payout ratio is currently 57.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Exponent in a research note on Tuesday, April 21st. JPMorgan Chase & Co. reduced their price objective on Exponent from $95.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, May 15th. Finally, UBS Group reiterated a “neutral” rating and set a $75.00 price objective on shares of Exponent in a research report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.50.

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.