Fernwood Investment Management LLC Has $325,000 Position in eBay Inc. (EBAY)
Fernwood Investment Management LLC lowered its stake in shares of eBay Inc. (NASDAQ:EBAY) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,320 shares of the e-commerce company’s stock after selling 100 shares during the period. Fernwood Investment Management LLC’s holdings in eBay were worth $325,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of EBAY. Westside Investment Management Inc. raised its stake in shares of eBay by 284.0% in the first quarter. Westside Investment Management Inc. now owns 3,567 shares of the e-commerce company’s stock valued at $121,000 after buying an additional 2,638 shares in the last quarter. FNY Partners Fund LP raised its position in shares of eBay by 660.0% in the first quarter. FNY Partners Fund LP now owns 3,800 shares of the e-commerce company’s stock worth $127,000 after buying an additional 3,300 shares during the period. Parallel Advisors LLC raised its position in shares of eBay by 25.5% in the first quarter. Parallel Advisors LLC now owns 4,221 shares of the e-commerce company’s stock worth $140,000 after buying an additional 858 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in shares of eBay by 100.5% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,450 shares of the e-commerce company’s stock worth $149,000 after buying an additional 2,230 shares during the period. Finally, Dupont Capital Management Corp purchased a new position in shares of eBay during the second quarter worth about $167,000. Hedge funds and other institutional investors own 85.71% of the company’s stock.
Shares of eBay Inc. (EBAY) opened at 35.36 on Thursday. The stock has a market cap of $37.85 billion, a price-to-earnings ratio of 5.30 and a beta of 1.36. The firm has a 50-day moving average price of $35.77 and a 200-day moving average price of $34.31. eBay Inc. has a 12 month low of $27.28 and a 12 month high of $37.48. eBay also saw unusually large options trading activity on Wednesday. Traders acquired 2,194 put options on the company. This is an increase of approximately 231% compared to the average volume of 663 put options.
eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.45. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.31 billion. eBay had a net margin of 80.93% and a return on equity of 17.50%. eBay’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 earnings per share. Equities analysts expect that eBay Inc. will post $2.00 EPS for the current fiscal year.
eBay declared that its board has authorized a share buyback program on Thursday, July 20th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the e-commerce company to buy up to 7.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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EBAY has been the subject of a number of research analyst reports. Benchmark Co. raised their target price on eBay from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Susquehanna Bancshares Inc restated a “positive” rating and issued a $41.00 target price (up previously from $40.00) on shares of eBay in a research note on Sunday, July 23rd. Morgan Stanley restated an “underweight” rating and issued a $28.00 target price on shares of eBay in a research note on Saturday, July 22nd. Robert W. Baird restated an “outperform” rating and issued a $38.00 target price on shares of eBay in a research note on Thursday, July 13th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $36.00 target price on shares of eBay in a research note on Tuesday, May 2nd. Three analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $37.05.
In other eBay news, VP Brian J. Doerger sold 10,450 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $36.56, for a total transaction of $382,052.00. Following the transaction, the vice president now owns 24,001 shares of the company’s stock, valued at $877,476.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Harry A. Lawton III sold 34,832 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $35.00, for a total transaction of $1,219,120.00. Following the transaction, the senior vice president now directly owns 83,058 shares in the company, valued at approximately $2,907,030. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,238 shares of company stock worth $3,376,547. 6.78% of the stock is currently owned by insiders.
eBay Company Profile
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company connects buyers and sellers around the world. Its platforms enable sellers around the world to organize and offer their inventory for sale, and buyers to find and purchase it.
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