State of Michigan Retirement System Cuts Position in eBay Inc (NASDAQ:EBAY)

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State of Michigan Retirement System cut its holdings in eBay Inc (NASDAQ:EBAY) by 3.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 168,742 shares of the e-commerce company’s stock after selling 6,600 shares during the period. State of Michigan Retirement System’s holdings in eBay were worth $8,851,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Regent Investment Management LLC grew its position in eBay by 7.1% during the second quarter. Regent Investment Management LLC now owns 9,000 shares of the e-commerce company’s stock valued at $472,000 after buying an additional 600 shares during the period. Koshinski Asset Management Inc. purchased a new position in eBay in the second quarter valued at about $202,000. Avestar Capital LLC bought a new position in shares of eBay during the 2nd quarter valued at approximately $622,000. Pacer Advisors Inc. increased its stake in shares of eBay by 7.2% during the 2nd quarter. Pacer Advisors Inc. now owns 200,895 shares of the e-commerce company’s stock worth $10,537,000 after purchasing an additional 13,531 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of eBay in the 2nd quarter worth approximately $662,000. 92.53% of the stock is owned by institutional investors.

NASDAQ EBAY opened at $55.28 on Friday. eBay Inc has a 52-week low of $26.02 and a 52-week high of $61.06. The company has a fifty day moving average of $53.69 and a 200-day moving average of $41.41. The company has a market capitalization of $38.69 billion, a P/E ratio of 8.35, a P/E/G ratio of 1.49 and a beta of 1.40. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.34 and a current ratio of 1.58.

eBay (NASDAQ:EBAY) last issued its quarterly earnings results on Tuesday, July 28th. The e-commerce company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.18. eBay had a return on equity of 77.65% and a net margin of 46.91%. The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue was up 18.2% compared to the same quarter last year. As a group, analysts forecast that eBay Inc will post 2.94 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.16%. eBay’s dividend payout ratio (DPR) is currently 27.59%.

In other news, CFO Andrew John Cring sold 23,240 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $43.00, for a total value of $999,320.00. Following the completion of the sale, the chief financial officer now owns 117,919 shares of the company’s stock, valued at approximately $5,070,517. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 5.02% of the stock is currently owned by insiders.

EBAY has been the subject of a number of recent research reports. Robert W. Baird raised their target price on eBay from $60.00 to $65.00 in a research report on Wednesday. Stifel Nicolaus boosted their price objective on eBay from $66.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday. Guggenheim increased their target price on shares of eBay from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday. SunTrust Banks lifted their target price on shares of eBay from $50.00 to $54.00 and gave the stock a “hold” rating in a research note on Friday, June 26th. Finally, Cfra cut shares of eBay from a “hold” rating to a “sell” rating in a research note on Monday, May 11th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $57.71.

eBay Profile

eBay Inc operates commerce platforms connecting various buyers and sellers worldwide. The company's Marketplace platforms include its online marketplace at ebay.com and the eBay suite of mobile apps; and StubHub platforms comprise its online ticket platform at stubhub.com, and the StubHub mobile apps that connect fans with their favorite sporting events, shows, and artists, as well as enables them to buy and sell tickets.

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Institutional Ownership by Quarter for eBay (NASDAQ:EBAY)

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