Twin Capital Management Inc. Sells 12,320 Shares of eBay Inc (NASDAQ:EBAY)
Twin Capital Management Inc. lessened its stake in shares of eBay Inc (NASDAQ:EBAY) by 8.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,800 shares of the e-commerce company’s stock after selling 12,320 shares during the quarter. Twin Capital Management Inc.’s holdings in eBay were worth $5,404,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in EBAY. Cable Hill Partners LLC boosted its position in shares of eBay by 64.6% during the 1st quarter. Cable Hill Partners LLC now owns 752 shares of the e-commerce company’s stock worth $28,000 after purchasing an additional 295 shares in the last quarter. Brand Asset Management Group Inc. increased its stake in eBay by 69.6% in the 1st quarter. Brand Asset Management Group Inc. now owns 865 shares of the e-commerce company’s stock valued at $32,000 after buying an additional 355 shares during the last quarter. Icon Wealth Partners LLC purchased a new stake in eBay in the 1st quarter valued at about $32,000. Cornerstone Advisors Inc. increased its stake in eBay by 83.8% in the 1st quarter. Cornerstone Advisors Inc. now owns 978 shares of the e-commerce company’s stock valued at $36,000 after buying an additional 446 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC increased its stake in eBay by 71.6% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 961 shares of the e-commerce company’s stock valued at $36,000 after buying an additional 401 shares during the last quarter. 89.00% of the stock is currently owned by institutional investors.
In related news, Director Matthew J. Murphy acquired 6,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $38.79 per share, with a total value of $232,740.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Devin Wenig sold 149,563 shares of eBay stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $41.49, for a total transaction of $6,205,368.87. Following the sale, the chief executive officer now directly owns 1,034,592 shares of the company’s stock, valued at $42,925,222.08. The disclosure for this sale can be found here. Insiders have sold a total of 232,942 shares of company stock valued at $9,661,957 over the last ninety days. 6.22% of the stock is currently owned by insiders.
eBay (NASDAQ:EBAY) last announced its quarterly earnings results on Wednesday, July 17th. The e-commerce company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.19. eBay had a net margin of 22.12% and a return on equity of 36.67%. The firm had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period last year, the firm earned $0.53 EPS. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. Research analysts predict that eBay Inc will post 2.22 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, September 3rd will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.42%. The ex-dividend date is Friday, August 30th. eBay’s payout ratio is 24.14%.
Several equities research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of eBay from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Benchmark increased their price objective on shares of eBay from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Aegis reiterated a “buy” rating and issued a $45.00 price objective (up previously from $43.00) on shares of eBay in a research note on Thursday, July 18th. BidaskClub upgraded shares of eBay from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley increased their price objective on shares of eBay from $34.50 to $36.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.52.
eBay Inc operates commerce platforms connecting various buyers and sellers worldwide. The company's Marketplace platforms include its online marketplace at ebay.com and the eBay suite of mobile apps; and StubHub platforms comprise its online ticket platform at stubhub.com, and the StubHub mobile apps that connect fans with their favorite sporting events, shows, and artists, as well as enables them to buy and sell tickets.
Further Reading: How to execute a trade ex-dividend strategy?
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).
Receive News & Ratings for eBay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for eBay and related companies with MarketBeat.com's FREE daily email newsletter.