Lyrical Asset Management LP Has $270.24 Million Stake in eBay Inc. $EBAY

Key Points

• Lyrical Asset Management LP reduced its holdings in eBay Inc. by 1.2% in Q1, owning approximately 3,989,883 shares, making eBay its 10th largest holding.
• eBay reported better-than-expected quarterly earnings, with an EPS of $1.37, exceeding estimates of $1.30, and a revenue of $2.73 billion compared to $2.64 billion expected.
• The company announced a quarterly dividend of $0.29 per share, with a dividend yield of 1.2%, set to be paid on September 12th.

Lyrical Asset Management LP reduced its holdings in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,989,883 shares of the e-commerce company's stock after selling 47,051 shares during the quarter. eBay accounts for about 4.2% of Lyrical Asset Management LP's holdings, making the stock its 10th biggest holding. Lyrical Asset Management LP owned approximately 0.87% of eBay worth $270,235,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of EBAY. Harfst & Associates Inc. bought a new position in eBay in the first quarter valued at about $725,000. Neuberger Berman Group LLC raised its position in eBay by 5.8% in the first quarter. Neuberger Berman Group LLC now owns 186,570 shares of the e-commerce company's stock valued at $12,636,000 after purchasing an additional 10,160 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of eBay by 3.9% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 16,151 shares of the e-commerce company's stock worth $1,094,000 after acquiring an additional 604 shares during the last quarter. S Bank Fund Management Ltd bought a new position in shares of eBay during the first quarter worth about $781,000. Finally, National Pension Service raised its position in shares of eBay by 0.7% during the first quarter. National Pension Service now owns 894,594 shares of the e-commerce company's stock worth $60,591,000 after acquiring an additional 5,782 shares during the last quarter. 87.48% of the stock is currently owned by institutional investors.

Insider Transactions at eBay

In other eBay news, CEO Jamie Iannone sold 10,974 shares of eBay stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $75.75, for a total transaction of $831,280.50. Following the completion of the sale, the chief executive officer owned 306,651 shares of the company's stock, valued at $23,228,813.25. The trade was a 3.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jordan Douglas Bradle Sweetnam sold 22,206 shares of eBay stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $77.90, for a total value of $1,729,847.40. The disclosure for this sale can be found here. In the last three months, insiders sold 276,104 shares of company stock worth $22,025,676. 0.64% of the stock is currently owned by company insiders.

eBay Stock Performance

Shares of NASDAQ EBAY traded down $1.67 during mid-day trading on Monday, hitting $99.03. The company had a trading volume of 5,476,596 shares, compared to its average volume of 5,637,004. The company has a market capitalization of $45.26 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 2.43 and a beta of 1.27. eBay Inc. has a 1 year low of $55.29 and a 1 year high of $101.15. The stock's 50-day moving average price is $81.59 and its 200-day moving average price is $72.84. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.05.

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

eBay Announces Dividend

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

Analyst Ratings Changes

EBAY has been the subject of a number of analyst reports. Piper Sandler raised their price objective on eBay from $74.00 to $95.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Stifel Nicolaus raised their price objective on eBay from $62.00 to $68.00 and gave the stock a "hold" rating in a research report on Tuesday, July 29th. Cantor Fitzgerald raised their price objective on eBay from $69.00 to $85.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft raised their target price on eBay from $75.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Evercore ISI raised their target price on eBay from $63.00 to $69.00 and gave the stock an "in-line" rating in a research note on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, eBay presently has an average rating of "Hold" and a consensus target price of $78.19.

About eBay

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.