Liquidity Services (LQDT) Sets New 1-Year High at $8.06

Liquidity Services, Inc. (NASDAQ:LQDT) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $8.06 and last traded at $8.02, with a volume of 10671 shares changing hands. The stock had previously closed at $7.73.

Several brokerages have issued reports on LQDT. Zacks Investment Research lowered Liquidity Services from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 4th. Barrington Research reaffirmed a “buy” rating and set a $10.00 price target on shares of Liquidity Services in a research report on Sunday, December 9th. TheStreet upgraded shares of Liquidity Services from a “d” rating to a “c-” rating in a research note on Wednesday, December 12th. ValuEngine cut shares of Liquidity Services from a “hold” rating to a “sell” rating in a report on Saturday, October 6th. Finally, BidaskClub upgraded shares of Liquidity Services from a “hold” rating to a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $9.13.

The firm has a market capitalization of $250.73 million, a price-to-earnings ratio of -15.98 and a beta of 0.82.

Liquidity Services (NASDAQ:LQDT) last posted its quarterly earnings data on Thursday, December 6th. The business services provider reported ($0.14) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.14). The business had revenue of $52.71 million during the quarter, compared to analysts’ expectations of $48.36 million. Liquidity Services had a negative net margin of 5.60% and a negative return on equity of 11.97%. As a group, sell-side analysts forecast that Liquidity Services, Inc. will post -0.34 earnings per share for the current fiscal year.

In other Liquidity Services news, insider James M. Rallo sold 4,785 shares of Liquidity Services stock in a transaction dated Friday, December 7th. The stock was sold at an average price of $6.99, for a total transaction of $33,447.15. Following the completion of the transaction, the insider now owns 4,785 shares of the company’s stock, valued at approximately $33,447.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James M. Rallo sold 4,090 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $6.12, for a total value of $25,030.80. Following the transaction, the insider now directly owns 4,090 shares of the company’s stock, valued at approximately $25,030.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,691 shares of company stock valued at $133,570. Insiders own 22.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Legal & General Group Plc grew its holdings in Liquidity Services by 7.4% during the 3rd quarter. Legal & General Group Plc now owns 55,942 shares of the business services provider’s stock valued at $355,000 after buying an additional 3,865 shares in the last quarter. Aristotle Capital Boston LLC raised its position in Liquidity Services by 2.7% during the 3rd quarter. Aristotle Capital Boston LLC now owns 326,832 shares of the business services provider’s stock valued at $2,075,000 after purchasing an additional 8,452 shares in the last quarter. Northern Trust Corp raised its position in Liquidity Services by 3.0% during the 2nd quarter. Northern Trust Corp now owns 353,820 shares of the business services provider’s stock valued at $2,317,000 after purchasing an additional 10,399 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Liquidity Services by 0.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,184,196 shares of the business services provider’s stock valued at $14,306,000 after acquiring an additional 17,307 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Liquidity Services by 23.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 130,111 shares of the business services provider’s stock valued at $853,000 after acquiring an additional 24,529 shares during the period. Hedge funds and other institutional investors own 65.23% of the company’s stock.

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About Liquidity Services (NASDAQ:LQDT)

Liquidity Services, Inc provides e-commerce marketplace that enable buyers and sellers to transact in an automated environment offering approximately 500 product categories. The company's marketplaces include liquidation.com that enable corporations to sell surplus and salvage consumer goods and capital assets; govdeals.com that enables local and state government entities, including city, county, and state agencies to sell surplus and salvage assets, as well as offers a suite of services that includes asset sales and marketing, and seller self-service; and auctiondeals.com, a self-service solution, which enable sellers list their own assets, and enable commercial businesses to sell surplus and salvage assets.

Further Reading: What is a Fiduciary?

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