Sterling Capital Management LLC decreased its position in shares of Liquidity Services, Inc. (NASDAQ:LQDT – Free Report) by 97.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 790 shares of the business services provider’s stock after selling 27,536 shares during the quarter. Sterling Capital Management LLC’s holdings in Liquidity Services were worth $34,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the company. Persistent Asset Partners Ltd acquired a new position in shares of Liquidity Services in the 2nd quarter valued at approximately $35,000. Quantbot Technologies LP acquired a new position in Liquidity Services during the second quarter valued at approximately $53,000. USA Financial Formulas bought a new stake in Liquidity Services during the third quarter worth $83,000. Meeder Asset Management Inc. bought a new stake in Liquidity Services during the first quarter worth $97,000. Finally, Fifth Third Bancorp increased its stake in shares of Liquidity Services by 4,505.7% in the 1st quarter. Fifth Third Bancorp now owns 3,224 shares of the business services provider’s stock valued at $99,000 after purchasing an additional 3,154 shares during the last quarter. 71.15% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Liquidity Services
In other Liquidity Services news, EVP John Daunt sold 715 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $42.75, for a total transaction of $30,566.25. Following the completion of the transaction, the executive vice president owned 38,086 shares in the company, valued at approximately $1,628,176.50. This trade represents a 1.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 28.06% of the company’s stock.
Liquidity Services Stock Down 4.4%
NASDAQ LQDT opened at $44.72 on Friday. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 43.84 and a beta of 1.06. Liquidity Services, Inc. has a twelve month low of $21.67 and a twelve month high of $47.31. The stock has a fifty day simple moving average of $43.09 and a 200 day simple moving average of $37.20.
Liquidity Services (NASDAQ:LQDT – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The business services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11. Liquidity Services had a return on equity of 17.60% and a net margin of 6.79%. The firm had revenue of $129.58 million for the quarter, compared to analyst estimates of $57.83 million. Research analysts expect that Liquidity Services, Inc. will post 1.16 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the company. Weiss Ratings raised Liquidity Services from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded shares of Liquidity Services from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. Zacks Research downgraded shares of Liquidity Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Finally, Barrington Research set a $50.00 target price on shares of Liquidity Services in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Liquidity Services currently has an average rating of “Moderate Buy” and a consensus target price of $50.00.
Read Our Latest Report on Liquidity Services
About Liquidity Services
Liquidity Services, Inc operates online marketplaces and related services for buying and selling surplus, returned, and otherwise excess assets. The company connects governments, businesses, and other organizations with buyers seeking products ranging from consumer goods and industrial equipment to vehicles, heavy machinery, and other capital assets.
Its platforms include GovDeals, which serves public-sector sellers; Liquidation.com, which facilitates the sale of surplus and returned inventory; and Machinio, a marketplace focused on used equipment.
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