Short Interest in eBay Inc. (NASDAQ:EBAY) Rises By 30.7%

eBay Inc. (NASDAQ:EBAY) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 22,950,000 shares, an increase of 30.7% from the February 28th total of 17,560,000 shares. Currently, 4.9% of the shares of the company are short sold. Based on an average daily volume of 5,200,000 shares, the days-to-cover ratio is currently 4.4 days.

eBay Stock Performance

eBay stock traded up $0.34 during trading hours on Monday, hitting $67.50. The stock had a trading volume of 2,563,843 shares, compared to its average volume of 4,848,325. eBay has a fifty-two week low of $48.52 and a fifty-two week high of $71.61. The company has a market cap of $31.46 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45. The company has a 50-day moving average of $67.11 and a two-hundred day moving average of $64.95. 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 was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from eBay’s previous quarterly dividend of $0.27. eBay’s payout ratio is 29.07%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EBAY shares. JMP Securities reaffirmed a “market perform” rating on shares of eBay in a report on Monday, December 16th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price objective on shares of eBay in a research report on Thursday, February 27th. Benchmark raised their target price on eBay from $65.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Stifel Nicolaus lowered their price target on shares of eBay from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Finally, Morgan Stanley boosted their price objective on shares of eBay from $70.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, eBay currently has a consensus rating of “Hold” and an average price target of $65.54.

Insider Activity at eBay

In related news, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $62.38, for a total transaction of $350,887.50. Following the completion of the sale, the chief executive officer now owns 542,248 shares in the company, valued at $33,825,430.24. This represents a 1.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephen J. Priest sold 1,033 shares of eBay stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $64.93, for a total transaction of $67,072.69. Following the completion of the transaction, the chief financial officer now owns 65,080 shares in the company, valued at approximately $4,225,644.40. This represents a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,241 shares of company stock valued at $1,061,665 in the last three months. 0.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On eBay

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its stake in eBay by 47.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 77,357 shares of the e-commerce company’s stock worth $4,792,000 after acquiring an additional 24,840 shares in the last quarter. Integrated Advisors Network LLC acquired a new position in shares of eBay in the 4th quarter worth approximately $210,000. Ameriflex Group Inc. bought a new position in eBay in the 4th quarter valued at $38,000. Ascent Group LLC grew its holdings in shares of eBay by 8.2% during the fourth quarter. Ascent Group LLC now owns 13,450 shares of the e-commerce company’s stock worth $833,000 after purchasing an additional 1,024 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of eBay by 17.4% in the fourth quarter. Mackenzie Financial Corp now owns 105,665 shares of the e-commerce company’s stock valued at $6,546,000 after buying an additional 15,639 shares in the last quarter. 87.48% of the stock is owned by institutional investors.

About eBay

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.