Gabelli Funds LLC Decreases Holdings in eBay Inc. (NASDAQ:EBAY)

Posted by Defense World Staff on Jun 11th, 2023

Gabelli Funds LLC trimmed its holdings in shares of eBay Inc. (NASDAQ:EBAY – Get Rating) by 6.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,000 shares of the e-commerce company’s stock after selling 4,500 shares during the period. Gabelli Funds LLC’s holdings in eBay were worth $2,820,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Signaturefd LLC boosted its position in eBay by 3.3% during the 4th quarter. Signaturefd LLC now owns 6,704 shares of the e-commerce company’s stock worth $278,000 after purchasing an additional 215 shares during the period. Lingohr & Partner Asset Management GmbH boosted its position in eBay by 2.8% in the 3rd quarter. Lingohr & Partner Asset Management GmbH now owns 8,708 shares of the e-commerce company’s stock valued at $347,000 after buying an additional 237 shares during the last quarter. Eagle Bay Advisors LLC boosted its position in eBay by 49.0% in the 3rd quarter. Eagle Bay Advisors LLC now owns 736 shares of the e-commerce company’s stock valued at $27,000 after buying an additional 242 shares during the last quarter. Quent Capital LLC boosted its position in eBay by 8.5% in the 3rd quarter. Quent Capital LLC now owns 3,215 shares of the e-commerce company’s stock valued at $118,000 after buying an additional 253 shares during the last quarter. Finally, Prestige Wealth Management Group LLC boosted its position in eBay by 24.8% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,313 shares of the e-commerce company’s stock valued at $54,000 after buying an additional 261 shares during the last quarter. 85.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at eBay

In other eBay news, SVP Cornelius Boone sold 5,500 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $44.67, for a total value of $245,685.00. Following the sale, the senior vice president now owns 44,982 shares in the company, valued at $2,009,345.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by company insiders.

eBay Price Performance

Shares of NASDAQ:EBAY opened at $45.81 on Friday. The firm’s 50 day moving average is $44.31 and its two-hundred day moving average is $44.70. eBay Inc. has a 52 week low of $35.92 and a 52 week high of $52.23. The firm has a market capitalization of $24.50 billion, a P/E ratio of 38.18, a PEG ratio of 1.40 and a beta of 1.35. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 1.43.

eBay (NASDAQ:EBAY – Get Rating) last announced its quarterly earnings results on Wednesday, April 26th. The e-commerce company reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. eBay had a net margin of 6.51% and a return on equity of 35.65%. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.48 billion. Analysts anticipate that eBay Inc. will post 3.35 earnings per share for the current year.

eBay Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Thursday, June 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $1.00 annualized dividend and a dividend yield of 2.18%. eBay’s payout ratio is currently 83.33%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EBAY. Cowen decreased their price objective on shares of eBay from $48.00 to $46.00 in a research report on Thursday, February 23rd. Morgan Stanley upped their price objective on shares of eBay from $32.00 to $33.00 and gave the company an “underweight” rating in a research report on Tuesday, February 28th. TheStreet raised shares of eBay from a “c” rating to a “b-” rating in a research report on Wednesday, April 26th. Barclays upped their price objective on shares of eBay from $56.00 to $59.00 and gave the company an “overweight” rating in a research report on Thursday, April 27th. Finally, Benchmark increased their price target on shares of eBay from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, eBay has a consensus rating of “Hold” and a consensus price target of $49.43.

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.