Shares of Liquidity Services, Inc. (NASDAQ:LQDT - Get Free Report) hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $39.72 and last traded at $36.24, with a volume of 89321 shares traded. The stock had previously closed at $31.85.
The business services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.06. Liquidity Services had a return on equity of 20.94% and a net margin of 6.37%.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the stock. Craig Hallum increased their price target on shares of Liquidity Services from $28.00 to $37.00 and gave the stock a "buy" rating in a report on Friday, December 13th. StockNews.com lowered shares of Liquidity Services from a "strong-buy" rating to a "buy" rating in a research note on Friday. Finally, Barrington Research restated an "outperform" rating and set a $40.00 target price on shares of Liquidity Services in a research report on Monday, February 3rd.
Get Our Latest Research Report on LQDT
Insider Activity
In related news, Director Edward Kolodzieski sold 26,000 shares of the firm's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $31.29, for a total value of $813,540.00. Following the transaction, the director now directly owns 19,229 shares of the company's stock, valued at approximately $601,675.41. This trade represents a 57.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jorge Celaya sold 16,540 shares of Liquidity Services stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $34.10, for a total value of $564,014.00. Following the completion of the sale, the chief financial officer now owns 33,608 shares in the company, valued at approximately $1,146,032.80. The trade was a 32.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,668 shares of company stock worth $3,331,558 in the last quarter. Corporate insiders own 28.40% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LQDT. Pacer Advisors Inc. grew its holdings in shares of 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 buying an additional 76,794 shares in the last quarter. State Street Corp grew its stake in Liquidity Services by 1.7% during the 3rd quarter. State Street Corp now owns 852,306 shares of the business services provider's stock valued at $19,433,000 after acquiring an additional 13,947 shares in the last quarter. Geode Capital Management LLC grew its stake in Liquidity Services by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 515,584 shares of the business services provider's stock valued at $11,757,000 after acquiring an additional 2,392 shares in the last quarter. Rice Hall James & Associates LLC raised its holdings in Liquidity Services by 1.3% in the 3rd quarter. Rice Hall James & Associates LLC now owns 367,302 shares of the business services provider's stock valued at $8,374,000 after acquiring an additional 4,838 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Liquidity Services by 4.9% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 71.15% of the company's stock.
Liquidity Services Trading Up 3.3 %
The company has a fifty day moving average price of $32.32 and a two-hundred day moving average price of $26.05. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 45.04 and a beta of 1.36.
About Liquidity Services
(
Get Free Report)
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.
Further Reading
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