Macquarie Group Ltd. boosted its holdings in eBay Inc. (NASDAQ:EBAY – Get Rating) by 20.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,837 shares of the e-commerce company’s stock after purchasing an additional 13,591 shares during the period. Macquarie Group Ltd.’s holdings in eBay were worth $2,976,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the business. Baader Bank Aktiengesellschaft bought a new stake in eBay in the third quarter worth $7,325,000. GHE LLC lifted its stake in eBay by 41.9% in the third quarter. GHE LLC now owns 17,033 shares of the e-commerce company’s stock worth $627,000 after purchasing an additional 5,032 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in eBay by 197.7% in the third quarter. Point72 Asset Management L.P. now owns 1,699,489 shares of the e-commerce company’s stock worth $62,558,000 after purchasing an additional 1,128,532 shares during the last quarter. Guggenheim Capital LLC lifted its stake in eBay by 1.0% in the third quarter. Guggenheim Capital LLC now owns 172,916 shares of the e-commerce company’s stock worth $6,365,000 after purchasing an additional 1,761 shares during the last quarter. Finally, Verition Fund Management LLC lifted its stake in eBay by 79.3% in the third quarter. Verition Fund Management LLC now owns 50,218 shares of the e-commerce company’s stock worth $1,849,000 after purchasing an additional 22,210 shares during the last quarter. 85.51% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts have weighed in on the stock. Citigroup initiated coverage on shares of eBay in a research note on Tuesday, December 13th. They issued a “neutral” rating and a $47.00 price target for the company. Benchmark lowered their price objective on shares of eBay from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, February 23rd. UBS Group upped their price objective on shares of eBay from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, February 23rd. Piper Sandler upped their price objective on shares of eBay from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, February 23rd. Finally, Susquehanna upped their price objective on shares of eBay from $42.00 to $43.00 and gave the company a “neutral” rating in a research note on Monday, February 27th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, eBay has an average rating of “Hold” and an average price target of $49.92.
eBay Price Performance
eBay (NASDAQ:EBAY – Get Rating) last issued its earnings results on Wednesday, February 22nd. The e-commerce company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.46 billion. eBay had a negative net margin of 12.96% and a positive return on equity of 34.14%. The business’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 earnings per share. Analysts anticipate that eBay Inc. will post 3.36 earnings per share for the current fiscal year.
eBay Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Thursday, March 9th. This is an increase from eBay’s previous quarterly dividend of $0.22. eBay’s dividend payout ratio is currently -41.31%.
eBay, Inc operates as a commerce company. The company platforms include online marketplace and its localized counterparts, including off-platform businesses in South Korea, Japan, and Turkey, as well as eBay’s suite of mobile apps. The company technologies and services are designed to give buyers choice and a breadth of relevant inventory and to enable sellers worldwide to organize and offer their inventory for sale, virtually anytime and anywhere.
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