1,992 Shares in eBay Inc (NASDAQ:EBAY) Acquired by Orion Portfolio Solutions LLC
Orion Portfolio Solutions LLC acquired a new stake in eBay Inc (NASDAQ:EBAY) in the fourth quarter, Holdings Channel.com reports. The firm acquired 1,992 shares of the e-commerce company’s stock, valued at approximately $72,000.
Other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its holdings in eBay by 32.5% during the 4th quarter. Renaissance Technologies LLC now owns 15,120,028 shares of the e-commerce company’s stock worth $545,984,000 after purchasing an additional 3,707,700 shares in the last quarter. Baupost Group LLC MA boosted its holdings in eBay by 20.1% in the 4th quarter. Baupost Group LLC MA now owns 19,994,970 shares of the e-commerce company’s stock valued at $722,018,000 after purchasing an additional 3,348,970 shares during the period. Marshall Wace LLP boosted its holdings in eBay by 134.0% in the 4th quarter. Marshall Wace LLP now owns 4,115,129 shares of the e-commerce company’s stock valued at $148,598,000 after purchasing an additional 2,356,700 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of eBay during the 4th quarter valued at $68,316,000. Finally, Bank of New York Mellon Corp grew its position in shares of eBay by 19.4% during the 4th quarter. Bank of New York Mellon Corp now owns 9,453,275 shares of the e-commerce company’s stock valued at $341,357,000 after purchasing an additional 1,535,987 shares in the last quarter. Institutional investors and hedge funds own 91.35% of the company’s stock.
NASDAQ EBAY traded up $1.79 during trading on Thursday, hitting $30.16. 14,333,520 shares of the company’s stock traded hands, compared to its average volume of 14,091,029. The stock has a fifty day moving average of $35.19 and a two-hundred day moving average of $36.29. eBay Inc has a 12-month low of $26.02 and a 12-month high of $42.00. The firm has a market cap of $22.03 billion, a P/E ratio of 14.43, a PEG ratio of 0.98 and a beta of 1.17. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.16 and a quick ratio of 1.16.
eBay declared that its Board of Directors has initiated a share buyback plan on Tuesday, January 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the e-commerce company to purchase up to 17.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Monday, March 2nd were issued a dividend of $0.16 per share. This is a positive change from eBay’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Friday, February 28th. eBay’s dividend payout ratio is currently 27.59%.
In related news, CAO Brian J. Doerger sold 3,141 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $36.91, for a total value of $115,934.31. Following the completion of the sale, the chief accounting officer now owns 39,973 shares of the company’s stock, valued at $1,475,403.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew John Cring sold 29,710 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $37.00, for a total value of $1,099,270.00. Following the completion of the sale, the chief financial officer now directly owns 142,661 shares of the company’s stock, valued at approximately $5,278,457. The disclosure for this sale can be found here. Insiders have sold a total of 189,092 shares of company stock valued at $6,749,564 in the last three months. 6.22% of the stock is currently owned by corporate insiders.
A number of brokerages recently issued reports on EBAY. Royal Bank of Canada reiterated a “hold” rating and issued a $31.00 price objective on shares of eBay in a research report on Wednesday, March 18th. Jefferies Financial Group restated a “sell” rating and set a $31.00 target price on shares of eBay in a research report on Tuesday, January 28th. Bank of America lowered their price target on eBay from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Canaccord Genuity reissued a “hold” rating and set a $38.00 price objective (down previously from $40.00) on shares of eBay in a report on Wednesday, January 29th. Finally, Cowen restated a “hold” rating and issued a $37.00 price objective on shares of eBay in a research report on Monday, January 27th. Five investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $40.71.
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.
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