Isthmus Partners LLC reduced its position in eBay Inc. (NASDAQ:EBAY) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 135,908 shares of the e-commerce company’s stock after selling 5,359 shares during the quarter. eBay makes up 1.7% of Isthmus Partners LLC’s portfolio, making the stock its 23rd largest holding. Isthmus Partners LLC’s holdings in eBay were worth $9,542,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Capital Analysts LLC lifted its position in eBay by 115.3% in the second quarter. Capital Analysts LLC now owns 394 shares of the e-commerce company’s stock worth $28,000 after purchasing an additional 211 shares during the period. Sawyer & Company Inc lifted its position in eBay by 515.4% in the second quarter. Sawyer & Company Inc now owns 400 shares of the e-commerce company’s stock worth $28,000 after purchasing an additional 335 shares during the period. First PREMIER Bank acquired a new position in eBay during the second quarter worth $35,000. Prestige Wealth Management Group LLC raised its stake in eBay by 387.9% during the first quarter. Prestige Wealth Management Group LLC now owns 522 shares of the e-commerce company’s stock worth $32,000 after acquiring an additional 415 shares in the last quarter. Finally, Bogart Wealth LLC raised its stake in eBay by 192.2% during the second quarter. Bogart Wealth LLC now owns 637 shares of the e-commerce company’s stock worth $45,000 after acquiring an additional 419 shares in the last quarter. 90.78% of the stock is owned by hedge funds and other institutional investors.
EBAY has been the subject of several recent analyst reports. Barclays increased their price objective on eBay from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday, August 12th. Credit Suisse Group increased their price objective on eBay from $80.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, August 9th. Cowen increased their price objective on eBay from $65.00 to $72.00 and gave the stock a “market perform” rating in a research note on Monday, August 9th. Mizuho increased their price objective on eBay from $63.00 to $65.00 and gave the stock a “neutral” rating in a research note on Thursday, August 12th. Finally, Piper Sandler increased their price objective on eBay from $79.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 27th. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $72.59.
EBAY traded up $3.24 during midday trading on Wednesday, reaching $74.63. 316,392 shares of the company were exchanged, compared to its average volume of 7,451,831. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.96 and a current ratio of 3.96. eBay Inc. has a one year low of $45.36 and a one year high of $77.83. The stock has a market capitalization of $48.51 billion, a P/E ratio of 3.81, a PEG ratio of 2.10 and a beta of 1.10. The stock’s 50-day simple moving average is $71.65 and its 200 day simple moving average is $65.22.
eBay (NASDAQ:EBAY) last issued its earnings results on Wednesday, August 11th. The e-commerce company reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.16. eBay had a return on equity of 38.34% and a net margin of 115.40%. The firm had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter last year, the business earned $1.02 earnings per share. On average, research analysts anticipate that eBay Inc. will post 3.24 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 17th. Shareholders of record on Wednesday, September 1st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Tuesday, August 31st. eBay’s dividend payout ratio (DPR) is currently 24.57%.
eBay declared that its board has authorized a stock buyback program on Wednesday, August 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the e-commerce company to reacquire up to 6.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
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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