Olstein Capital Management L.P. Has $7.81 Million Stake in eBay Inc. (EBAY)
Olstein Capital Management L.P. cut its position in eBay Inc. (NASDAQ:EBAY) by 22.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 203,000 shares of the e-commerce company’s stock after selling 60,000 shares during the period. Olstein Capital Management L.P.’s holdings in eBay were worth $7,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in EBAY. Captrust Financial Advisors purchased a new position in eBay during the second quarter valued at $108,000. BB&T Investment Services Inc. purchased a new position in eBay during the second quarter valued at $119,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in eBay during the second quarter valued at $123,000. Westside Investment Management Inc. grew its stake in eBay by 1.7% during the second quarter. Westside Investment Management Inc. now owns 3,627 shares of the e-commerce company’s stock valued at $127,000 after acquiring an additional 60 shares in the last quarter. Finally, GWM Advisors LLC bought a new position in eBay during the second quarter valued at $157,000. 86.57% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Brian J. Doerger sold 4,359 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $35.75, for a total value of $155,834.25. Following the completion of the sale, the vice president now owns 23,392 shares of the company’s stock, valued at $836,264. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stephen Fisher sold 69,406 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $37.63, for a total transaction of $2,611,747.78. Following the completion of the sale, the senior vice president now directly owns 144,047 shares of the company’s stock, valued at approximately $5,420,488.61. The disclosure for this sale can be found here. Insiders sold 202,582 shares of company stock valued at $7,540,354 in the last three months. 6.78% of the stock is currently owned by insiders.
Several equities research analysts have recently issued reports on the stock. Guggenheim assumed coverage on shares of eBay in a report on Friday, October 20th. They issued a “neutral” rating for the company. Benchmark Co. reiterated a “buy” rating and set a $45.00 price objective on shares of eBay in a report on Thursday, October 19th. SunTrust Banks, Inc. started coverage on shares of eBay in a research report on Tuesday, August 15th. They set a “hold” rating and a $38.00 target price on the stock. Morgan Stanley set a $34.00 target price on shares of eBay and gave the company a “sell” rating in a research report on Thursday, October 19th. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of eBay in a research report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $38.45.
eBay Inc. (EBAY) traded up $0.43 during trading on Wednesday, hitting $35.96. 5,888,500 shares of the stock were exchanged, compared to its average volume of 8,843,977. eBay Inc. has a fifty-two week low of $27.28 and a fifty-two week high of $39.28. The stock has a market capitalization of $37,113.61, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 2.72 and a beta of 1.36. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.46 and a quick ratio of 2.46.
eBay (NASDAQ:EBAY) last released its earnings results on Wednesday, October 18th. The e-commerce company reported $0.48 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.48. eBay had a net margin of 80.45% and a return on equity of 15.69%. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. equities analysts expect that eBay Inc. will post 1.65 EPS for the current fiscal year.
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eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company connects buyers and sellers around the world. Its platforms enable sellers around the world to organize and offer their inventory for sale, and buyers to find and purchase it.
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