Ranger Investment Management L.P. bought a new position in shares of Liquidity Services, Inc. (NASDAQ:LQDT – Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 83,292 shares of the business services provider’s stock, valued at approximately $3,258,000. Ranger Investment Management L.P. owned 0.27% of Liquidity Services at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Persistent Asset Partners Ltd purchased a new position in Liquidity Services in the 2nd quarter valued at about $35,000. Quantbot Technologies LP purchased a new stake in Liquidity Services during the 2nd quarter worth approximately $53,000. Tower Research Capital LLC TRC raised its holdings in shares of Liquidity Services by 451.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,700 shares of the business services provider’s stock valued at $64,000 after acquiring an additional 2,210 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Liquidity Services in the first quarter valued at approximately $97,000. Finally, Fifth Third Bancorp lifted its position in shares of Liquidity Services by 4,505.7% in the first quarter. Fifth Third Bancorp now owns 3,224 shares of the business services provider’s stock valued at $99,000 after acquiring an additional 3,154 shares in the last quarter. Hedge funds and other institutional investors own 71.15% of the company’s stock.
Liquidity Services Stock Performance
Shares of NASDAQ LQDT opened at $43.27 on Monday. The firm has a market capitalization of $1.36 billion, a PE ratio of 42.42 and a beta of 1.10. Liquidity Services, Inc. has a fifty-two week low of $21.67 and a fifty-two week high of $44.09. The stock’s 50-day simple moving average is $39.50 and its 200-day simple moving average is $35.28.
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. Barrington Research set a $50.00 price objective on shares of Liquidity Services in a report on Friday, August 7th. Zacks Research upgraded Liquidity Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Wall Street Zen raised Liquidity Services from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Finally, Weiss Ratings upgraded Liquidity Services from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.
View Our Latest Research Report on LQDT
Insider Transactions at Liquidity Services
In related news, Director Jaime Mateus-Tique sold 38,471 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $37.99, for a total transaction of $1,461,513.29. Following the transaction, the director owned 164,380 shares of the company’s stock, valued at $6,244,796.20. This represents a 18.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jorge Celaya sold 11,303 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $35.24, for a total transaction of $398,317.72. Following the completion of the sale, the chief financial officer owned 50,965 shares of the company’s stock, valued at $1,796,006.60. This trade represents a 18.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 132,869 shares of company stock worth $4,994,005 over the last ninety days. 28.06% of the stock is currently owned by company insiders.
Liquidity Services Profile
Liquidity Services, Inc is a technology-driven provider of online marketplaces for surplus and remarketed assets. Through its wholly owned platforms—such as Liquidation.com, GovDeals, Machinio and GoIndustry DoveBid—the company connects sellers of industrial equipment, commercial inventory, government surplus and transportation assets with a broad base of registered buyers. Its solutions blend auction formats, fixed-price listings and managed-service offerings to support efficient asset disposition across a wide range of industries.
The company’s core services include asset valuation, marketing, inspection and logistics coordination.
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