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Connor Clark & Lunn Investment Management Ltd. Has $7.61 Million Stake in eBay Inc. (NASDAQ:EBAY)

eBay logo with Retail/Wholesale background

Key Points

  • Connor Clark & Lunn Investment Management Ltd. significantly reduced its stake in eBay Inc. by 64.7%, now holding approximately $7.61 million worth of shares.
  • eBay reported a quarterly earnings per share (EPS) of $1.37, exceeding analysts' estimates, with revenue increasing 6.1% year-over-year.
  • The company is set to pay a quarterly dividend of $0.29 per share on September 12th, representing an annualized dividend yield of 1.2%.
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Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 64.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,369 shares of the e-commerce company's stock after selling 205,911 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in eBay were worth $7,611,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of EBAY. Orion Capital Management LLC acquired a new position in shares of eBay during the fourth quarter worth approximately $27,000. Abound Financial LLC acquired a new position in shares of eBay during the first quarter worth approximately $29,000. Pinney & Scofield Inc. acquired a new position in shares of eBay during the fourth quarter worth approximately $31,000. Itau Unibanco Holding S.A. acquired a new position in shares of eBay during the fourth quarter worth approximately $33,000. Finally, Transce3nd LLC acquired a new position in shares of eBay during the fourth quarter worth approximately $36,000. 87.48% of the stock is owned by institutional investors and hedge funds.

eBay Stock Performance

Shares of EBAY opened at $95.30 on Tuesday. The company has a market cap of $43.55 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 2.25 and a beta of 1.27. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.05. The stock has a 50-day moving average price of $79.84 and a 200-day moving average price of $71.93. eBay Inc. has a 12-month low of $54.80 and a 12-month high of $95.37.

eBay (NASDAQ:EBAY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The e-commerce company reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.07. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.64 billion. eBay had a return on equity of 38.97% and a net margin of 20.86%. The company's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $1.18 EPS. As a group, equities analysts forecast that eBay Inc. will post 3.86 earnings per share for the current fiscal year.

eBay Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. eBay's dividend payout ratio (DPR) is currently 25.55%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on EBAY shares. JPMorgan Chase & Co. increased their price target on eBay from $66.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Wedbush reissued a "neutral" rating and issued a $72.00 price target on shares of eBay in a research report on Wednesday, June 11th. UBS Group set a $87.00 price target on eBay in a research report on Thursday, July 31st. Argus lowered eBay from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Finally, Daiwa America raised eBay from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $78.19.

Read Our Latest Analysis on EBAY

Insider Transactions at eBay

In related news, SVP Cornelius Boone sold 2,985 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $78.67, for a total transaction of $234,829.95. Following the transaction, the senior vice president directly owned 92,053 shares of the company's stock, valued at approximately $7,241,809.51. This trade represents a 3.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jordan Douglas Bradle Sweetnam sold 23,597 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $77.38, for a total value of $1,825,935.86. Following the transaction, the senior vice president directly owned 44,413 shares in the company, valued at approximately $3,436,677.94. This represents a 34.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 276,104 shares of company stock valued at $22,025,676. 0.64% of the stock is currently owned by corporate insiders.

eBay Company Profile

(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.

Read More

Institutional Ownership by Quarter for eBay (NASDAQ:EBAY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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