Connor Clark & Lunn Investment Management Ltd. Grows Position in eBay Inc. (NASDAQ:EBAY)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in eBay Inc. (NASDAQ:EBAY) by 204.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 318,280 shares of the e-commerce company’s stock after buying an additional 213,650 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in eBay were worth $19,717,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of EBAY. Golden State Wealth Management LLC purchased a new stake in eBay in the 4th quarter valued at $27,000. Quarry LP bought a new position in eBay in the 3rd quarter valued at $36,000. New Wave Wealth Advisors LLC bought a new position in eBay in the 4th quarter valued at $36,000. Versant Capital Management Inc grew its stake in eBay by 115.5% in the 4th quarter. Versant Capital Management Inc now owns 836 shares of the e-commerce company’s stock valued at $52,000 after purchasing an additional 448 shares during the period. Finally, Washington Trust Advisors Inc. grew its stake in eBay by 37.8% in the 4th quarter. Washington Trust Advisors Inc. now owns 839 shares of the e-commerce company’s stock valued at $52,000 after purchasing an additional 230 shares during the period. 87.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on EBAY shares. Cantor Fitzgerald upped their price objective on eBay from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. UBS Group upped their price objective on eBay from $66.00 to $72.00 and gave the company a “neutral” rating in a research note on Monday, February 24th. Wells Fargo & Company restated an “equal weight” rating on shares of eBay in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price target on shares of eBay in a research note on Thursday, February 27th. Finally, Morgan Stanley increased their price target on eBay from $70.00 to $72.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $65.54.

eBay Stock Performance

NASDAQ:EBAY opened at $64.25 on Friday. The business’s 50-day moving average price is $66.89 and its two-hundred day moving average price is $64.33. eBay Inc. has a twelve month low of $48.52 and a twelve month high of $71.61. The stock has a market cap of $29.94 billion, a P/E ratio of 16.14, a PEG ratio of 2.22 and a beta of 1.45. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14.

eBay Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.81%. This is a boost from eBay’s previous quarterly dividend of $0.27. eBay’s dividend payout ratio (DPR) is presently 29.07%.

Insider Activity at eBay

In related news, CFO Stephen J. Priest sold 5,252 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $63.63, for a total transaction of $334,184.76. Following the transaction, the chief financial officer now directly owns 65,080 shares of the company’s stock, valued at approximately $4,141,040.40. This trade represents a 7.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jamie Iannone sold 5,625 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $62.38, for a total value of $350,887.50. Following the transaction, the chief executive officer now directly owns 542,248 shares in the company, valued at approximately $33,825,430.24. This represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,524 shares of company stock valued at $1,390,509. Corporate insiders own 0.38% of the company’s stock.

eBay Company Profile

eBay Inc, together with its subsidiaries, operates marketplace platforms that connect buyers and sellers in the United States, the United Kingdom, China, Germany, and internationally. The company’s marketplace platform includes its online marketplace at ebay.com, off-platform businesses, and the eBay suite of mobile apps.