Exa Corp. (EXA) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS
Exa Corp. (NASDAQ:EXA) announced its earnings results on Wednesday. The company reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. The firm had revenue of $19.20 million for the quarter, compared to the consensus estimate of $19.10 million. Exa Corp. had a negative return on equity of 19.36% and a negative net margin of 4.84%. Exa Corp.’s revenue was up 12.9% compared to the same quarter last year.
Shares of Exa Corp. (NASDAQ:EXA) traded down 0.94% on Wednesday, hitting $14.83. The stock had a trading volume of 31,918 shares. The firm has a 50 day moving average of $14.47 and a 200-day moving average of $14.37. Exa Corp. has a 1-year low of $9.81 and a 1-year high of $16.74. The firm’s market capitalization is $219.78 million.
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In other news, Director Wayne D. Mackie bought 10,565 shares of Exa Corp. stock in a transaction that occurred on Friday, October 7th. The shares were acquired at an average price of $14.91 per share, with a total value of $157,524.15. Following the completion of the purchase, the director now directly owns 69,723 shares in the company, valued at $1,039,569.93. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Fidelity Non-Profit Management sold 1,200,000 shares of the stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $14.72, for a total value of $17,664,000.00. Following the completion of the transaction, the insider now directly owns 905,640 shares in the company, valued at approximately $13,331,020.80. The disclosure for this sale can be found here. 9.89% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC boosted its position in Exa Corp. by 20.1% in the second quarter. Parametric Portfolio Associates LLC now owns 67,547 shares of the company’s stock worth $976,000 after buying an additional 11,310 shares in the last quarter. Redmond Asset Management LLC purchased a new position in Exa Corp. during the second quarter worth approximately $269,000. Allianz Asset Management AG purchased a new position in Exa Corp. during the second quarter worth approximately $374,000. State Street Corp purchased a new position in Exa Corp. during the second quarter worth approximately $1,993,000. Finally, Teachers Advisors Inc. purchased a new position in Exa Corp. during the second quarter worth approximately $315,000. 76.09% of the stock is currently owned by institutional investors and hedge funds.
EXA has been the topic of several recent research reports. Needham & Company LLC lifted their target price on Exa Corp. from $15.00 to $16.50 and gave the stock a “buy” rating in a report on Tuesday, August 30th. Zacks Investment Research raised Exa Corp. from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Thursday, September 1st. Finally, Canaccord Genuity lifted their target price on Exa Corp. from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, August 30th.
About Exa Corp.
Exa Corporation develops, sells and supports simulation software and services that manufacturers use in design and engineering processes. The Company focuses primarily on the ground transportation market, including manufacturers in the passenger vehicle, highway truck, off-highway vehicle and train markets, as well as their suppliers.
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