Regent Investment Management LLC lifted its stake in eBay Inc (NASDAQ:EBAY) by 7.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,000 shares of the e-commerce company’s stock after acquiring an additional 600 shares during the period. Regent Investment Management LLC’s holdings in eBay were worth $472,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of EBAY. Arden Trust Co bought a new position in shares of eBay in the 1st quarter valued at approximately $26,000. Alpha Windward LLC bought a new position in eBay in the 2nd quarter worth approximately $26,000. Rocky Mountain Advisers LLC bought a new position in eBay in the 2nd quarter worth approximately $26,000. FDx Advisors Inc. increased its position in eBay by 380.5% in the 1st quarter. FDx Advisors Inc. now owns 26,643 shares of the e-commerce company’s stock worth $30,000 after buying an additional 21,098 shares during the period. Finally, TCI Wealth Advisors Inc. increased its position in eBay by 131.7% in the 1st quarter. TCI Wealth Advisors Inc. now owns 1,059 shares of the e-commerce company’s stock worth $32,000 after buying an additional 602 shares during the period. 92.53% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Andrew John Cring sold 23,240 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $43.00, for a total transaction of $999,320.00. Following the completion of the transaction, the chief financial officer now directly owns 117,919 shares of the company’s stock, valued at $5,070,517. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.02% of the stock is owned by corporate insiders.
eBay (NASDAQ:EBAY) last posted its quarterly earnings data on Tuesday, July 28th. The e-commerce company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.18. The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.80 billion. eBay had a return on equity of 77.65% and a net margin of 46.91%. eBay’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 earnings per share. On average, equities analysts anticipate that eBay Inc will post 2.94 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.16 per share. The ex-dividend date is Monday, August 31st. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. eBay’s dividend payout ratio is currently 27.59%.
Several brokerages have commented on EBAY. ValuEngine downgraded eBay from a “hold” rating to a “sell” rating in a research report on Thursday, July 2nd. Credit Suisse Group boosted their price objective on eBay from $53.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. SunTrust Banks boosted their price objective on eBay from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Friday, June 26th. Barclays boosted their price objective on eBay from $77.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Benchmark boosted their price objective on eBay from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $57.71.
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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