Short Interest in Exponent, Inc. (NASDAQ:EXPO) Grows By 6.7%

Exponent, Inc. (NASDAQ:EXPO) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 1,590,000 shares, an increase of 6.7% from the June 30th total of 1,490,000 shares. Based on an average daily volume of 229,200 shares, the days-to-cover ratio is presently 6.9 days. Approximately 3.2% of the shares of the stock are short sold.

Exponent Price Performance

Shares of NASDAQ:EXPO traded down $1.53 during trading on Thursday, hitting $104.55. 264,350 shares of the company were exchanged, compared to its average volume of 270,972. The firm’s 50 day moving average price is $97.91 and its 200-day moving average price is $88.87. Exponent has a 12-month low of $64.61 and a 12-month high of $108.80. The stock has a market capitalization of $5.30 billion, a P/E ratio of 52.80 and a beta of 0.65.

Exponent (NASDAQ:EXPO) last posted its earnings results on Thursday, July 25th. The business services provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.07. The business had revenue of $132.43 million during the quarter, compared to the consensus estimate of $130.83 million. Exponent had a return on equity of 28.39% and a net margin of 19.35%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 EPS. As a group, equities research analysts anticipate that Exponent will post 2.04 EPS for the current year.

Exponent Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.07%. The ex-dividend date is Friday, September 6th. Exponent’s dividend payout ratio is presently 56.57%.

Insider Activity

In other news, VP Bradley A. James sold 3,528 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $95.00, for a total value of $335,160.00. Following the transaction, the vice president now owns 2,030 shares in the company, valued at $192,850. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Bradley A. James sold 3,528 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $95.00, for a total value of $335,160.00. Following the transaction, the vice president now directly owns 2,030 shares of the company’s stock, valued at $192,850. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carol Lindstrom 932 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. Insiders have sold a total of 52,360 shares of company stock worth $4,996,409 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Exponent

A number of institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. grew its position in shares of Exponent by 24.4% in the fourth quarter. Pacer Advisors Inc. now owns 7,608 shares of the business services provider’s stock valued at $670,000 after purchasing an additional 1,491 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Exponent by 261.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 56,510 shares of the business services provider’s stock valued at $4,975,000 after buying an additional 40,886 shares during the last quarter. Fenimore Asset Management Inc. increased its position in Exponent by 62.8% during the fourth quarter. Fenimore Asset Management Inc. now owns 172,868 shares of the business services provider’s stock worth $15,219,000 after buying an additional 66,664 shares in the last quarter. Trust Point Inc. acquired a new position in shares of Exponent in the fourth quarter worth $770,000. Finally, Asset Management One Co. Ltd. purchased a new stake in shares of Exponent in the fourth quarter valued at $4,340,000. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Truist Financial reiterated a “buy” rating and issued a $120.00 price objective (up previously from $100.00) on shares of Exponent in a report on Friday, July 26th.

Exponent Company Profile

Exponent, Inc, together with its subsidiaries, operates as a science and engineering consulting company in the United States and internationally. The company operates in two segments, Engineering and Other Scientific, and Environmental and Health. The Engineering and Other Scientific segment provides services in the areas of biomechanics, biomedical engineering and sciences, buildings and structures, civil engineering, construction consulting, data sciences, electrical engineering and computer science, human factors, materials and corrosion engineering, mechanical engineering, polymer science and materials chemistry, thermal sciences, and vehicle engineering.