FourThought Financial LLC Purchases 589 Shares of eBay Inc. (NASDAQ:EBAY)

Posted by Defense World Staff on Mar 19th, 2023

FourThought Financial LLC lifted its stake in eBay Inc. (NASDAQ:EBAY – Get Rating) by 44.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,905 shares of the e-commerce company’s stock after purchasing an additional 589 shares during the period. FourThought Financial LLC’s holdings in eBay were worth $70,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. CoreCap Advisors LLC bought a new position in shares of eBay in the second quarter worth about $26,000. Almanack Investment Partners LLC. bought a new position in shares of eBay in the third quarter worth about $28,000. Guardian Wealth Advisors LLC bought a new position in shares of eBay in the third quarter worth about $40,000. EverSource Wealth Advisors LLC grew its holdings in shares of eBay by 102.5% in the third quarter. EverSource Wealth Advisors LLC now owns 1,361 shares of the e-commerce company’s stock worth $50,000 after purchasing an additional 689 shares during the last quarter. Finally, Ronald Blue Trust Inc. bought a new position in shares of eBay in the second quarter worth about $72,000. 85.51% of the stock is currently owned by institutional investors.

eBay Stock Performance

Shares of eBay stock opened at $42.06 on Friday. eBay Inc. has a 52 week low of $35.92 and a 52 week high of $60.38. The company has a 50 day moving average price of $46.60 and a 200 day moving average price of $43.32. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $22.58 billion, a P/E ratio of -19.75, a PEG ratio of 1.33 and a beta of 1.37.

eBay (NASDAQ:EBAY – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The e-commerce company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. eBay had a negative net margin of 12.96% and a positive return on equity of 34.14%. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the prior year, the company earned $0.89 EPS. eBay’s quarterly revenue was down 3.9% on a year-over-year basis. Sell-side analysts expect that eBay Inc. will post 3.36 EPS for the current year.

eBay Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.38%. The ex-dividend date is Thursday, March 9th. This is an increase from eBay’s previous quarterly dividend of $0.22. eBay’s dividend payout ratio is -46.95%.

Analyst Ratings Changes

EBAY has been the topic of a number of research analyst reports. Credit Suisse Group upped their price target on shares of eBay from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, February 21st. Piper Sandler increased their target price on shares of eBay from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, February 23rd. Bank of America increased their target price on shares of eBay from $44.00 to $52.00 in a report on Tuesday, February 21st. Cowen dropped their target price on shares of eBay from $48.00 to $46.00 in a report on Thursday, February 23rd. Finally, UBS Group increased their target price on shares of eBay from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, February 23rd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, eBay has a consensus rating of “Hold” and an average price target of $49.92.

eBay Company Profile

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eBay, Inc is a commerce company, whose platforms include an 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. Its 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.