Liquidity Services, Inc. (NASDAQ:LQDT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Thursday.
According to Zacks, “Liquidity Services, Inc. is a leading online auction marketplace for wholesale, surplus and salvage assets. LSI enables its corporate and government sellers to enhance their financial return on excess assets by providing a liquid marketplace and value-added services that integrate sales and marketing, logistics and transaction settlement into a single offering. LSI has developed and deployed highly successful online sales programs on a significant scale for clients including large corporations and government agencies to maximize the market reach and recovery value of surplus assets in a timely manner. “
Liquidity Services (NASDAQ:LQDT) opened at 9.30 on Thursday. Liquidity Services has a one year low of $4.42 and a one year high of $11.49. The company’s 50-day moving average is $9.89 and its 200 day moving average is $9.44. The stock’s market capitalization is $290.98 million.
Liquidity Services (NASDAQ:LQDT) last posted its quarterly earnings results on Thursday, November 17th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.06. Liquidity Services had a negative net margin of 18.94% and a negative return on equity of 4.85%. The business earned $78.50 million during the quarter, compared to analysts’ expectations of $77.21 million. During the same quarter in the prior year, the company posted $0.07 EPS. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities analysts expect that Liquidity Services will post ($0.41) EPS for the current year.
In other news, Chairman William P. Angrick III sold 95,000 shares of the company’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $10.02, for a total value of $951,900.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Segundo Leoncio Casusol sold 27,634 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $8.56, for a total transaction of $236,547.04. Following the completion of the transaction, the insider now owns 27,634 shares in the company, valued at $236,547.04. The disclosure for this sale can be found here. 21.60% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of LQDT. Strs Ohio raised its position in shares of Liquidity Services by 1,300.0% in the third quarter. Strs Ohio now owns 60,200 shares of the company’s stock valued at $676,000 after buying an additional 55,900 shares in the last quarter. Robotti Robert raised its position in shares of Liquidity Services by 2.8% in the third quarter. Robotti Robert now owns 417,794 shares of the company’s stock valued at $4,696,000 after buying an additional 11,425 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Liquidity Services by 3.2% in the second quarter. Principal Financial Group Inc. now owns 172,976 shares of the company’s stock valued at $1,356,000 after buying an additional 5,285 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Liquidity Services by 2.3% in the second quarter. California State Teachers Retirement System now owns 52,276 shares of the company’s stock valued at $410,000 after buying an additional 1,158 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Liquidity Services by 6.9% in the second quarter. California Public Employees Retirement System now owns 265,100 shares of the company’s stock valued at $2,078,000 after buying an additional 17,000 shares in the last quarter. Hedge funds and other institutional investors own 64.61% of the company’s stock.
About Liquidity Services
Liquidity Services, Inc is an online auction marketplace for surplus and salvage assets. The Company operates through the operating auction marketplaces for sellers and buyers of surplus, salvage and scrap assets segment. The Company enables buyers and sellers to transact in an automated online auction environment offering over 500 product categories.
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