CCM Investment Group LLC purchased a new stake in eBay Inc. (NASDAQ:EBAY - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 42,867 shares of the e-commerce company's stock, valued at approximately $2,879,000.
Other institutional investors have also made changes to their positions in the company. Marvin & Palmer Associates Inc. bought a new stake in shares of eBay in the first quarter valued at approximately $2,958,000. Assenagon Asset Management S.A. lifted its stake in eBay by 0.5% during the first quarter. Assenagon Asset Management S.A. now owns 53,089 shares of the e-commerce company's stock worth $3,596,000 after purchasing an additional 246 shares during the last quarter. Portolan Capital Management LLC lifted its stake in eBay by 210.2% during the fourth quarter. Portolan Capital Management LLC now owns 238,132 shares of the e-commerce company's stock worth $14,752,000 after purchasing an additional 161,372 shares during the last quarter. IFP Advisors Inc lifted its stake in eBay by 59.6% during the first quarter. IFP Advisors Inc now owns 3,857 shares of the e-commerce company's stock worth $261,000 after purchasing an additional 1,440 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in eBay by 2.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 79,452 shares of the e-commerce company's stock worth $5,381,000 after purchasing an additional 2,095 shares during the last quarter. 87.48% of the stock is currently owned by institutional investors.
eBay Stock Up 0.1%
Shares of eBay stock opened at $93.14 on Friday. eBay Inc. has a one year low of $54.80 and a one year high of $93.50. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.00 and a quick ratio of 1.00. The stock's 50-day moving average is $79.43 and its 200 day moving average is $71.67. The firm has a market cap of $42.56 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 2.25 and a beta of 1.27.
eBay (NASDAQ:EBAY - Get Free Report) last announced its earnings results on Wednesday, July 30th. The e-commerce company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.30 by $0.07. eBay had a return on equity of 38.97% and a net margin of 20.86%. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the company earned $1.18 EPS. The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that eBay Inc. will post 3.86 EPS for the current year.
eBay Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, August 29th. This represents a $1.16 annualized dividend and a dividend yield of 1.2%. eBay's dividend payout ratio is presently 25.55%.
Analysts Set New Price Targets
Several equities research analysts have weighed in on EBAY shares. Daiwa America upgraded eBay from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 12th. Barclays restated an "overweight" rating and set a $92.00 target price (up from $77.00) on shares of eBay in a research note on Thursday, July 31st. Daiwa Capital Markets upgraded eBay from a "neutral" rating to a "buy" rating and set a $70.00 target price for the company in a research note on Monday, May 12th. Robert W. Baird upped their target price on eBay from $75.00 to $80.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Finally, Citigroup cut their target price on eBay from $80.00 to $79.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, eBay has an average rating of "Hold" and an average target price of $78.19.
View Our Latest Report on EBAY
Insiders Place Their Bets
In other news, SVP Julie A. Loeger sold 75,952 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $93.25, for a total value of $7,082,524.00. Following the completion of the sale, the senior vice president directly owned 53,107 shares in the company, valued at $4,952,227.75. This trade represents a 58.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Cornelius Boone sold 2,985 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $78.67, for a total value of $234,829.95. Following the completion of the sale, the senior vice president owned 92,053 shares of the company's stock, valued at approximately $7,241,809.51. This represents a 3.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 276,104 shares of company stock worth $22,025,676 in the last quarter. 0.64% of the stock is currently owned by company insiders.
About eBay
(
Free Report)
eBay Inc, together with its subsidiaries, operates marketplace platforms that connect buyers and sellers in the United States, the United Kingdom, China, Germany, and internationally. The company's marketplace platform includes its online marketplace at ebay.com, off-platform businesses, and the eBay suite of mobile apps.
See Also
Want to see what other hedge funds are holding EBAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for eBay Inc. (NASDAQ:EBAY - Free Report).
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