Institute for Wealth Management LLC. Lowers Position in eBay Inc (NASDAQ:EBAY)

Institute for Wealth Management LLC. cut its holdings in eBay Inc (NASDAQ:EBAY) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,944 shares of the e-commerce company’s stock after selling 261 shares during the quarter. Institute for Wealth Management LLC.’s holdings in eBay were worth $994,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in EBAY. Guggenheim Capital LLC lifted its stake in eBay by 18.5% in the fourth quarter. Guggenheim Capital LLC now owns 378,778 shares of the e-commerce company’s stock worth $13,678,000 after acquiring an additional 59,062 shares during the period. Brinker Capital Inc. lifted its position in shares of eBay by 12.2% during the fourth quarter. Brinker Capital Inc. now owns 6,623 shares of the e-commerce company’s stock valued at $239,000 after buying an additional 721 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of eBay during the fourth quarter valued at about $14,083,000. Macquarie Group Ltd. lifted its position in shares of eBay by 22.6% during the fourth quarter. Macquarie Group Ltd. now owns 28,081 shares of the e-commerce company’s stock valued at $1,014,000 after buying an additional 5,181 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of eBay by 249.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 45,325 shares of the e-commerce company’s stock valued at $1,637,000 after buying an additional 32,350 shares during the last quarter. 92.53% of the stock is owned by institutional investors.

EBAY has been the subject of several analyst reports. Wells Fargo & Co increased their price target on shares of eBay from $50.00 to $58.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 22nd. TheStreet raised shares of eBay from a “c+” rating to a “b+” rating in a research report on Tuesday. DA Davidson increased their price target on shares of eBay from $57.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus increased their price target on shares of eBay from $66.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Robert W. Baird increased their price target on shares of eBay from $60.00 to $65.00 in a research report on Wednesday. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $57.71.

In other news, CFO Andrew John Cring sold 23,240 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $43.00, for a total transaction of $999,320.00. Following the sale, the chief financial officer now owns 117,919 shares of the company’s stock, valued at approximately $5,070,517. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.02% of the stock is owned by company insiders.

NASDAQ:EBAY traded up $0.56 during midday trading on Friday, hitting $55.28. The company’s stock had a trading volume of 8,942,293 shares, compared to its average volume of 9,885,240. eBay Inc has a fifty-two week low of $26.02 and a fifty-two week high of $61.06. The firm’s 50 day moving average is $53.69 and its 200-day moving average is $41.41. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.58 and a quick ratio of 1.34. The firm has a market cap of $38.69 billion, a P/E ratio of 8.35, a P/E/G ratio of 1.47 and a beta of 1.40.

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

The company 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 is Monday, August 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.16%. eBay’s payout ratio is 27.59%.

About eBay

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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