Cim Investment Management Inc. Makes New $1.15 Million Investment in eBay Inc. (NASDAQ:EBAY)

Cim Investment Management Inc. bought a new position in shares of eBay Inc. (NASDAQ:EBAY) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 16,368 shares of the e-commerce company’s stock, valued at approximately $1,149,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Analysts LLC grew its holdings in eBay by 115.3% during the 2nd quarter. Capital Analysts LLC now owns 394 shares of the e-commerce company’s stock worth $28,000 after acquiring an additional 211 shares during the period. Sawyer & Company Inc grew its holdings in eBay by 515.4% during the 2nd quarter. Sawyer & Company Inc now owns 400 shares of the e-commerce company’s stock worth $28,000 after acquiring an additional 335 shares during the period. Financial Insights Inc. acquired a new stake in eBay during the 2nd quarter worth $29,000. First PREMIER Bank acquired a new stake in eBay during the 2nd quarter worth $35,000. Finally, Prestige Wealth Management Group LLC grew its holdings in eBay by 387.9% during the 1st 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 during the period. 90.78% of the stock is owned by hedge funds and other institutional investors.

In other eBay news, Director Robert Holmes Swan sold 40,000 shares of the stock in a transaction dated Thursday, August 19th. The shares were sold at an average price of $73.15, for a total value of $2,926,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anthony John Bates sold 19,060 shares of the stock in a transaction dated Wednesday, August 25th. The shares were sold at an average price of $74.12, for a total transaction of $1,412,727.20. Following the completion of the transaction, the director now directly owns 20,360 shares in the company, valued at $1,509,083.20. The disclosure for this sale can be found here. Insiders have sold a total of 79,998 shares of company stock worth $5,892,419 over the last three months. Insiders own 0.21% of the company’s stock.

EBAY has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on shares of eBay in a report on Thursday, September 9th. They set a “hold” rating and a $83.00 target price for the company. Bank of America boosted their price target on shares of eBay from $70.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, August 26th. Barclays boosted their price target on shares of eBay from $78.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, August 12th. Piper Sandler boosted their price target on shares of eBay from $79.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 27th. Finally, Credit Suisse Group boosted their price target on shares of eBay from $80.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, August 9th. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.05.

NASDAQ:EBAY traded down $0.28 on Thursday, hitting $74.62. 145,433 shares of the company’s stock were exchanged, compared to its average volume of 7,220,837. The firm has a 50-day moving average price of $72.78 and a 200-day moving average price of $67.43. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.96 and a quick ratio of 3.96. eBay Inc. has a 52 week low of $45.36 and a 52 week high of $77.83. The company has a market cap of $48.51 billion, a P/E ratio of 3.98, a price-to-earnings-growth ratio of 2.10 and a beta of 1.10.

eBay (NASDAQ:EBAY) last issued its quarterly earnings results on Wednesday, August 11th. The e-commerce company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.83 by $0.16. eBay had a net margin of 115.40% and a return on equity of 38.34%. The firm had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the previous year, the firm posted $1.02 EPS. On average, research analysts expect that eBay Inc. will post 3.24 earnings per share for the current fiscal year.

eBay declared that its Board of Directors has initiated a share buyback program on Wednesday, August 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the e-commerce company to buy up to 6.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 17th. Shareholders of record on Wednesday, September 1st were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, August 31st. This represents a $0.72 annualized dividend and a yield of 0.96%. eBay’s dividend payout ratio (DPR) is presently 24.57%.

eBay Company Profile

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.

Further Reading: Forex

Want to see what other hedge funds are holding EBAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for eBay Inc. (NASDAQ:EBAY).

Institutional Ownership by Quarter for eBay (NASDAQ:EBAY)

Receive News & Ratings for eBay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for eBay and related companies with MarketBeat.com's FREE daily email newsletter.