Allspring Global Investments Holdings LLC Acquires 61,918 Shares of Liquidity Services, Inc. (NASDAQ:LQDT)

Allspring Global Investments Holdings LLC grew its position in shares of Liquidity Services, Inc. (NASDAQ:LQDT - Free Report) by 107.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 119,432 shares of the business services provider's stock after purchasing an additional 61,918 shares during the period. Allspring Global Investments Holdings LLC owned about 0.39% of Liquidity Services worth $3,856,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its stake in Liquidity Services by 9.5% during the third quarter. Pacer Advisors Inc. now owns 881,234 shares of the business services provider's stock worth $20,092,000 after purchasing an additional 76,794 shares during the last quarter. State Street Corp lifted its stake in Liquidity Services by 1.7% during the third quarter. State Street Corp now owns 852,306 shares of the business services provider's stock worth $19,433,000 after purchasing an additional 13,947 shares during the last quarter. Geode Capital Management LLC lifted its stake in Liquidity Services by 0.5% during the third quarter. Geode Capital Management LLC now owns 515,584 shares of the business services provider's stock worth $11,757,000 after purchasing an additional 2,392 shares during the last quarter. Rice Hall James & Associates LLC lifted its stake in Liquidity Services by 1.3% during the third quarter. Rice Hall James & Associates LLC now owns 367,302 shares of the business services provider's stock worth $8,374,000 after purchasing an additional 4,838 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Liquidity Services by 4.9% during the third quarter. Assenagon Asset Management S.A. now owns 237,725 shares of the business services provider's stock worth $5,420,000 after purchasing an additional 11,022 shares during the last quarter. Institutional investors own 71.15% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on LQDT shares. Craig Hallum lifted their price target on Liquidity Services from $28.00 to $37.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Barrington Research reissued an "outperform" rating and issued a $40.00 target price on shares of Liquidity Services in a research note on Tuesday, February 11th. Finally, StockNews.com lowered Liquidity Services from a "strong-buy" rating to a "buy" rating in a research note on Wednesday.

Insider Buying and Selling at Liquidity Services

In related news, Director Beatriz V. Infante sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $35.36, for a total value of $176,800.00. Following the sale, the director now owns 82,990 shares in the company, valued at $2,934,526.40. This represents a 5.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Mark A. Shaffer sold 6,005 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $35.59, for a total value of $213,717.95. Following the completion of the sale, the vice president now owns 36,083 shares in the company, valued at $1,284,193.97. The trade was a 14.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 162,388 shares of company stock valued at $5,440,791 in the last 90 days. Insiders own 28.40% of the company's stock.

Liquidity Services Stock Down 3.5 %

Shares of NASDAQ LQDT traded down $1.23 during midday trading on Friday, reaching $34.31. The company had a trading volume of 385,548 shares, compared to its average volume of 338,763. Liquidity Services, Inc. has a one year low of $16.79 and a one year high of $39.72. The firm's fifty day moving average price is $33.98 and its 200-day moving average price is $26.84. The stock has a market cap of $1.06 billion, a PE ratio of 45.75 and a beta of 1.36.

Liquidity Services (NASDAQ:LQDT - Get Free Report) last released its earnings results on Thursday, February 6th. The business services provider reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.06. Liquidity Services had a return on equity of 20.94% and a net margin of 6.37%.

About Liquidity Services

Liquidity Services, Inc provides e-commerce marketplaces, self-directed auction listing tools, and value-added services in the United States and internationally. The company operates through four segments: GovDeals, Retail Supply Chain Group (RSCG), Capital Assets Group (CAG), and Machinio. Its marketplaces include liquidation.com that enable corporations to sell surplus and salvage consumer goods and retail capital assets; GovDeals marketplace, which provides self-directed service solutions in which sellers list their own assets that enables local and state government entities, and commercial businesses located in the United States and Canada to sell surplus and salvage assets; and AllSurplus, a centralized marketplace that connects global buyer base with assets from across the network of marketplaces in a single destination.