Power Corp of Canada Acquires New Shares in eBay Inc. (NASDAQ:EBAY)

Posted by on Mar 16th, 2023

Power Corp of Canada bought a new position in eBay Inc. (NASDAQ:EBAY – Get Rating) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,848 shares of the e-commerce company’s stock, valued at approximately $289,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. CoreCap Advisors LLC purchased a new position in shares of eBay during the 2nd quarter valued at about $26,000. Almanack Investment Partners LLC. bought a new position in shares of eBay during the 3rd quarter valued at approximately $28,000. Guardian Wealth Advisors LLC bought a new position in shares of eBay during the 3rd quarter valued at approximately $40,000. Ronald Blue Trust Inc. bought a new position in shares of eBay during the 2nd quarter valued at approximately $72,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in eBay by 102.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,361 shares of the e-commerce company’s stock valued at $50,000 after acquiring an additional 689 shares during the period. 85.51% of the stock is owned by hedge funds and other institutional investors.

eBay Stock Performance

Shares of EBAY stock opened at $40.81 on Thursday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 2.18 and a current ratio of 2.18. eBay Inc. has a one year low of $35.92 and a one year high of $60.38. The company’s 50-day simple moving average is $46.69 and its 200-day simple moving average is $43.35. The stock has a market capitalization of $21.91 billion, a price-to-earnings ratio of -19.16, a PEG ratio of 1.37 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 EPS 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 business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter last year, the company posted $0.89 earnings per share. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. Equities analysts anticipate that eBay Inc. will post 3.36 earnings per share for the current fiscal year.

eBay Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be given a dividend of $0.25 per share. This is a boost from eBay’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $1.00 annualized dividend and a dividend yield of 2.45%. eBay’s dividend payout ratio (DPR) is presently -46.95%.

Analyst Ratings Changes

EBAY has been the subject of several research reports. Benchmark lowered their target price on eBay from $62.00 to $58.00 and set a “buy” rating for the company in a report on Thursday, February 23rd. Cowen reduced their target price on eBay from $48.00 to $46.00 in a research report on Thursday, February 23rd. Susquehanna upped their target price on eBay from $42.00 to $43.00 and gave the company a “neutral” rating in a research report on Monday, February 27th. StockNews.com assumed coverage on eBay in a report on Thursday. They issued a “hold” rating on the stock. Finally, Citigroup initiated coverage on eBay in a report on Tuesday, December 13th. They issued a “neutral” rating and a $47.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, eBay currently has a consensus rating of “Hold” and an average target price of $49.92.

About eBay

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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.

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Institutional Ownership by Quarter for eBay (NASDAQ:EBAY)

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